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Hassan Shittu

Journalist

Hassan Shittu

About Author

Hassan, a Cryptonews.com journalist with 6+ years of experience in Web3 journalism, brings deep knowledge across Crypto, Web3 Gaming, NFTs, and Play-to-Earn sectors. His work has appeared in…

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September 2, 2025

Blockchain-based lender Figure Technology Solutions Inc. is preparing to go public this month in one of the most closely watched listings in the crypto-fintech sector.

The company and its backers are seeking to raise up to $526 million through an initial public offering, according to a filing with the U.S. Securities and Exchange Commission.

According to a Bloomberg report, Figure plans to sell 21.5 million shares priced between $18 and $20 each, while existing shareholders are offering an additional 4.9 million shares. At the top of that range, the firm would command a market capitalization of $4.13 billion, surpassing its $3.2 billion valuation from a 2021 venture round.

The company is expected to price its shares on September 10, with trading set to begin on Nasdaq under the ticker symbol FIGR. Goldman Sachs, Jefferies, and Bank of America are leading the offering.

Figure IPO Follows Strong Revenue Growth and Blockchain Expansion

Founded in 2018 by Mike Cagney, the former chief executive of SoFi Technologies, Figure has positioned itself as a developer of blockchain-based solutions to streamline consumer lending.

The firm began with home equity line of credit (HELOC) products and has since expanded into crypto-backed loans and a digital asset exchange.

To date, it has originated or purchased more than $16 billion in loans on-chain. In August, the company increased its HELOC borrowing limit from $400,000 to $750,000 to capture a larger share of equity-rich homeowners.

Figure has also moved into artificial intelligence, using OpenAI’s technology to evaluate loan applications and Google’s Gemini chatbot to improve customer interactions.

According to its filing, customers for partner-branded HELOC loans in the first half of 2025 had a weighted average FICO score of 756, slightly higher than the 749 average for its own-branded loans.

The company’s growth trajectory has accelerated in 2025. For the six months ending June 30, Figure reported a net income of $29.1 million on revenue of $190.6 million, compared with a net loss of $15.6 million on $156 million in revenue during the same period last year.

Investors include Apollo Global Management, 10T Holdings, and Ribbit Capital. Despite the IPO, Cagney will continue to control a majority of the voting power, the filing shows.

Michael Tannenbaum, formerly with Brex and SoFi, was appointed CEO in 2024, tasked with guiding the company’s public market debut and scaling its blockchain-based lending products.

Beyond lending, Figure is pursuing regulatory approval for what it says could be the first U.S.-approved interest-bearing stablecoin structured as a security.

Figure’s offering follows a series of confidential filings earlier this year, with the company formally submitting its registration in mid-August.

Marketing presentations to investors emphasize its ability to pair blockchain efficiency with traditional financial rigor, noting cost reductions in loan origination and securitization.

In addition to loan products, Figure recently rolled out its Intellidebt solution, which has already helped customers pay off $133 million in debt by consolidating credit cards, auto loans, and personal loans into single payment structures.

Crypto IPO Rush Accelerates as Gemini and Circle Join Wall Street Frenzy

Crypto-linked companies are racing to public markets this fall, capitalizing on renewed investor appetite and favorable conditions in the U.S.

According to recent filings, Gemini Space Station, the parent of crypto exchange Gemini, founded by Cameron and Tyler Winklevoss, is seeking up to a $2.22 billion valuation in its Nasdaq debut.

The New York-based firm plans to sell 16.67 million Class A shares at $17 to $19 each, potentially raising $317 million. Shares will trade under the ticker GEMI, with underwriters granted an option to buy an additional 2.5 million shares.

Ripple has backed Gemini’s listing with a $75 million credit facility, expandable to $150 million.

The surge in activity comes after Circle Internet Group’s successful market debut earlier this year, which more than doubled its value. It now boasts a $30 billion market cap.

The strong performance has fueled optimism that 2025 could mark a turning point for digital asset firms after years of regulatory and market headwinds.

Wall Street banks are fielding heightened demand from technology and crypto issuers. Goldman Sachs’ co-head of equity capital markets, Will Connolly, said firms are accelerating timelines, with some originally targeting 2026, now asking to move forward this year.

JPMorgan’s Keith Canton projects that dozens of IPOs could close before year-end, raising more than $15 billion.

Beyond traditional listings, crypto-focused special purpose acquisition companies (SPACs) are also entering the fray. Bitcoin Infrastructure Acquisition Corp., a Cayman Islands-based blank-check firm, filed to raise $200 million to target Web3, DeFi, and blockchain finance companies, listing on Nasdaq under the ticker BIXIU.

Other listings include Bullish, a Peter Thiel-backed exchange that raised $1.15 billion in its NYSE debut, entirely in stablecoins. Bullish joined Coinbase and Circle among the best-performing crypto IPOs of 2025, with Circle and CoreWeave delivering 336% and 132% returns, respectively.

With supportive policy shifts under the Trump administration and a buoyant risk environment, crypto IPOs are gaining momentum as firms rush to secure market share before year-end.

Welcome to Slate Sundays, CryptoSlate’s new weekly feature showcasing in-depth interviews, expert analysis, and thought-provoking op-eds that go beyond the headlines to explore the ideas and voices shaping the future of crypto.

Stephan Lutz is the CEO of BitMEX, the industry’s longest-standing crypto futures exchange, dating all the way back to when BTC was still in diapers.

From his swanky Singapore office, a busy skyline of skyscrapers behind him, he smiles confidently through the camera, rolling his eyes only slightly as I ask about his background. “I’ve told it so many times already,” he groans.

I jokingly suggest we switch to the AI version of him for a moment, or that we cover the topic very briefly, but Stephan isn’t a man who does things in brief. Our chat went on for more than an hour. It’s not often that you meet someone who can articulate their thoughts on the GFC, Brexit, crypto derivatives, and memecoins in the same breath.

From the bulge bracket to BitMEX

You might call Stephan something of an overachiever. With a background in business administration, economics, banking, and finance, he cut his teeth as a corporate finance analyst at Dresdener Bank.

He then moved to the consultancy side, scaling Deutsche Börse, Europe’s largest stock exchange operator, before working his way up to partner at PwC. He shares:

“I advised large bulge bracket investment banks during Brexit, the ECB, for example, on certain financial stability matters. I did a lot of work around bank recovery and resolution planning after the great financial crisis, and I was part of one of the teams that said what needed to be liquidated in the end.”

From mopping up the spills of 2008 to providing insights into a Brexit-driven financial climate, Stephan was approached by BitMEX in 2020, which he says:

“Led to a situation that no one had seen coming apart from me.”

With his blue-chip background in consultancy and finance, not even a crypto-native firm like BitMEX knew how fascinated Stephan was by blockchain technology, having become enchanted by its possibilities very early on at Deutsche Börse.

In 2010, he couldn’t see it replacing the Börse’s high-speed securities booking infrastructure with its five transactions per second speed, but he knew it was the future.

“I always followed the crypto industry, more so on the technology side, and the underlying real-world use cases for that. So, when BitMEX asked in 2020, it was like, finally, I can get my hands “dirty” with something that I’m interested in! It took me three days to accept the job without even negotiating the salary, and people said, ‘You’re head of capital markets at one of the biggest audit and advisory firms in the world. What are you doing?!’”

He smiles, with a wicked glint in his eye. Stephan doesn’t strike me as a person who cares too much about what other people think; despite the incredulity of his peers, he ran toward BitMEX with open arms:

“They asked me specifically because of my background, a regulation/compliance/audit guy, helping with adding credibility. Of course, I have all of this, but I was always a rebel, and I always liked to do things differently. They thought they hired a very risk-averse guy, and in the end, I’m actually rather the opposite.”

The OG crypto derivatives exchange

BitMEX is the industry’s “OG” derivatives exchange, founded in 2014, and while its trading volume is 80% institutional, it remains the playground of individual traders: around 80% of its half a million or so users are retail accounts. Stephan says:

“We are strong in crypto derivatives, and especially Bitcoin-denominated crypto derivatives. We are the OG brand, the original.”

10 years of operations in most industries is just a trifle, but in crypto, it equates to decades. BitMEX was built on the ashes of Mt. Gox and has survived, arguably, thrived throughout many a bump in the road. I ask Stephan how BitMEX continues to compete in a now crowded market. He reflects for a moment before replying:

“Let me give you an example of what we are not. We don’t operate a launchpad like many Asian exchanges, because that means you need to have new projects flowing in, and then you sell them. It’s a marketing tool. You have a spot exchange next to it. We don’t do this. We look at top coins, or top pairs, or top contracts. 10 assets make up 99% of our volumes. Why? Because we provide derivatives, futures, and perpetual swaps. That’s it. ”

While he’s proud of the fact that BitMEX is open to everyone, he’s quick to emphasize that he would never recommend his mom or kids to onboard with BitMEX if it were the first thing they wanted to do in crypto.

“I would say, no, no, no, no, don’t do this, because you need to have a certain level of education and experience.”

Yet, in the spirit of live and let live, if someone wants to take a risk, they should be able to do it without being mollycuddled or gatekept:

“I think we live in a free world, and it should be a free world.”

Of course, he highlights BitMEX’s role in user education and the plentiful resources the exchange puts out to ensure that traders are taking an informed risk.

“We are totally transparent. Even our technical documentation is publicly available. We give BitMEX Alpha out regularly, the crypto traders’ digest, and we do other courses… I mean, if you close your eyes, we can’t do anything about it, but if you’re going in with eyes wide open, you know what you’re going to do.”

Built on the rubble of Mt. Gox

Launching on the debris of Mt. Gox, which saw 142,000 BTC drained from its users, BitMEX has always been security-conscious. It’s one of the few exchanges in crypto that has never been hacked as a result.

Since the crypto winter of 2022, when “the shit hit the fan,” and FTX blew up, dragging half the industry with it, Stephan says BitMEX overhauled its entire frontend and backend infrastructure and processes to put “more focus on risk management.” He laughs:

“Despite everything you read about it, BitMEX is one of the most conservative crypto places on this planet. Why? Because we do just a few things. Number one, we have always been very focused on derivatives for professionals, and number two, we have full segregation of assets.”

In a business terrain fraught with landmines at every turn, BitMEX has never compromised on customer fund security. All assets are secured via secure multi-party computation (MPC), and all transfers are protected by transaction rules that assure any attack is blocked at a policy level.

“Our funds and customer funds have never been commingled. Our engine checks on a second-by-second basis. If all positions don’t add up to zero, the engine stops, and we investigate.”

I confess to Stephan that my memories of BitMEX go back to the cowboy days of retail traders getting rekt, and Crypto Twitter baying for BitMEX’s blood. The company has come a long way since then. He pauses:

“To this cowboy, “Wild West” thing, we could have done more in terms of educating people, but we have even been sued for market manipulation, and all those have been proven wrong in court, officially. All of those legal cases have gone away by now. We have fought them all through. The evidence was clear. The engine worked as intended. If I put in an order that’s using up 100% of my collateral, and the market moves against me, then I am liquidated. That’s just how it works.”

He says that in the early days, people were new to the concept of futures, and that led to more liquidations. Fast-forward to today, and there has been a sweeping sophistication and institutionalization of the space, just like in traditional finance.

“It was the same in TradFi. All this equity trading became retail in the 80s, right? I mean, all this Wolf of Wall Street stuff. In the 10 years we have been in crypto, I would say, in terms of professionalization, we are maybe where the TradFi world was around the early 2000s or so, maybe a little bit earlier.”

Bridging TradFi and crypto with copy trading

BitMEX launched its new copy trading feature earlier this month, which Stephan describes as bridging the worlds of TradFi and crypto. In TradFi, he explains, users have many options to earn a passive income, such as exchange-traded funds, index trackers, and more.

“Why do people love ETFs? I mean, next to, hey, it’s efficient because you pay less fees than for active management. It’s copy trading basically.”

Copy trading enables users to benefit from the experience and success of professional traders and easily replicate their strategies.

“It just means, if Stephan does something, I want to have the same. It’s like in Harry and Sally, with the restaurant scene, I want to have the same, and those two, oh, this lady, right?” Why is that good? If you have traders who are good, and you open this up, there are two things. The copy followers actually learn something, because they will see what is traded when, and it’s like a passive investment. I just follow the lead of someone else.”

BitMEX’s copy trade feature enables users to emulate multiple traders at once, to not “put all your eggs in one basket,” and the call can be reversed as well: if you find a trader whose strategy you disagree with, you can set up your preferences to do exactly the opposite.

“So if a trader buys, for example, Ethereum, I sell Ethereum, and the other way around, and then you can calibrate by saying, I copy it by 100%, I copy it by, let’s say, something between 0 and 100%. So, calibrating your risk level. You really can pick and choose what is good for your risk level.”

Genius acts, institutional plays, and BitMEX’s next moves

As an Asia-based exchange, BitMEX has never catered to U.S. traders, but with a changing of the guard at the White House and a relaxation of rules surrounding crypto, is that likely to change in the future? What does Stephan think of the Trump administration and the latest moves to come out of Washington? He pauses for a moment before replying:

“I think the GENIUS Act was genius. They basically turned a competitive disaster, relative disaster, into a competitive advantage within a couple of days.”

So, is BitMEX actively exploring the U.S. market, then? He laughs:

“It depends on what you mean by ‘actively’. We are actively exploring what we would need to do to re-enter the U.S., which is, it would cost us the better part of 18 and 24 months to do that in a valid way, because you need to be on the ground, we are not.

You need to then start with the right license, and go state by state, it takes time… So we are looking at this, but don’t expect us to open up a BitMEX office in the next half year.”

What else is on the cards for BitMEX for the rest of 2025 and beyond? Stephan says he will be sharing news at TOKEN2049 in October, and I can’t help but wonder if there will be any news of a stateside expansion despite his coy denial.

In other plans, he says, BitMEX will roll out its institutional-grade custody solution, having recently moved its data centers from Dublin to Tokyo in a strategic move to cater to institutional traders. He explains:

“The majority of all the crypto exchanges outside of the U.S. run their data centers in Tokyo. I mean, no one knows that. Why it’s an institutional thing for the market makers in particular, it makes hedging between venues easier. It’s not creating new issues to trade, but we enhance efficiency for our institutional customers through this capital efficiency, so they need to deploy less capital.”

Standing on the shoulders of giants

We’ve gone way over time, and the sky behind Stephan is dusky and tinged with pink, but as we wrap up the interview, I have one more question. I’m dying to know what it’s like to follow in the footsteps of such an outspoken CEO, like Arthur Hayes.

He pauses for the longest time since we’ve been recording, and I fleetingly wonder if I’ve lost audio, before he carefully says:

“It’s good, it’s an honor, and it’s difficult.”

He says the “legacy is great,” and the name opens doors for him; even when he was a partner at PwC, he didn’t receive so much enthusiasm for getting in a room with him.

“When I was at PwC, and I called someone to pitch for my idea for a consulting project or whatever, it was like, hey, I’m Stephan, I’m the capital markets leader at PwC in Europe, and would you have time for me? And the answer never was a no. It might be, I only have time in eight weeks from now, which is a semi-no.”

He doesn’t have that problem now, but admits that it’s challenging at times because being the co-owner and CEO of a firm is not the same as being a CEO only. He can’t always execute as fast as he would like to or as decisively as his predecessor. Still, he smiles, he’ll take it anyway.

“The privilege is I can go to basically any person in this industry and say, ‘Can we have a chat?’ And usually I get one, which is a big help already in driving the business. I would say this is the privilege I was handed over.”

Mentioned in this article

So far this week, we’ve covered the different types of crypto trading and where that trading actually happens.

Cool, cool. But once you get your hands on some crypto… then what?

Today’s edition is here to answer that question by walking you through the different types of crypto wallets – aka where your crypto lives once you buy it.

Yesterday, we introduced the idea of custodial wallets (when someone else, like a crypto exchange, holds your keys) vs non-custodial wallets (when you hold your keys).

But there’s another way to divide crypto wallets: they can be hot and cold.

Ready to dig in? Lessgo

Hot wallets

These are wallets that are connected to the internet in some way. This connection makes them quick, easy, and convenient for regular use.

Some examples of hot wallets include:

1/ Online wallets

For example: MetaMask.

Online wallets are web-based and can be accessed through your browser.

They’re super convenient – no downloads, just a login. This makes them especially beginner-friendly, since setup usually just involves creating a username and password.

Good for people who want quick access to their crypto from anywhere, on any device.

However, because they’re always online, they’re more vulnerable to phishing attacks, browser hijacking, and platform hacks.

2/ Mobile wallets

For example: Zengo.

Mobile wallets are apps installed on your phone, great for fast, on-the-go transactions.

You can use them to scan QR codes, pay in crypto at supported stores, trade tokens, or interact with DeFi – all from your phone.

Many mobile wallets, like Trust Wallet or MetaMask, also support multiple chains and come with user-friendly interfaces.

Great for fast, on-the-go transactions.

But keep in mind: they rely on your phone’s security. If it gets hacked, lost, or stolen, your wallet could be compromised – especially if you haven’t backed up your recovery phrase or set up biometric authentication.

3/ Desktop wallets

For example: Electrum.

These are software programs you download onto your computer.

They give you more advanced tools, like full-node access, detailed settings, or privacy features.

Plus, when installed on a secure computer, they can offer better protection than web or mobile wallets, especially if you keep them offline (which technically turns them into a cold wallet).

So, it’s typically used by people who want more control and features.

Downsides: they’re less portable, and if your PC gets infected with malware or crashes without a backup, you could lose access to your funds.

And now, moving on to…

Cold wallets

These are wallets that live offline.

That’s what makes them ultra-secure – they’re immune to things like online hacks or phishing.

Cold wallets are not ideal for buying coffee, but they’re definitely the go-to choice for anyone planning to hold their crypto long-term.

Some examples of cold wallets include:

1/ Hardware wallets

For example: Ledger Flex.

These are small physical devices that store your private key.

Here’s what using one looks like:

1. You plug the device into your computer or phone;

2. You open a companion app (like Ledger Live) to tell it: “Hey, I want to send some Bitcoin”;

3. The hardware wallet checks the request and asks you to confirm it;

4. Once confirmed, the wallet signs the transaction inside the device – your private key never touches the internet.

So, even if your laptop is full of viruses, hackers can’t steal your crypto, because the private key stays locked inside the hardware wallet.

Great for: storing large amounts of crypto safely, especially long-term.

Downsides: costs money, takes a few minutes to set up.

2/ Paper wallets

For example: uhh… A4 paper?

This is the most low-tech option: you just write your public address and private key on a piece of paper.

… And that’s it.

It costs nothing, and it’s fully offline. But here’s the catch:

To use the crypto on a paper wallet, you have to type your private key into a wallet app or website – and the second you do that, it’s not so safe anymore.

Also: it’s paper. Spill your drink on it, or lose it, and your crypto is gone.

Good for: deep cold storage of small amounts.

Downsides: super easy to lose, damage, or leak by accident.

So, are you hot or cold?

• Hot wallets are great for quick trades, daily use, and small amounts of crypto – but they’re more vulnerable since they’re always online.

• Cold wallets are better for long-term storage and larger amounts. They stay offline, which makes them much safer from hacks – but they’re not very convenient for daily use.

Actually, most people end up using both: a hot wallet for daily stuff, and a cold wallet for long-term hodling.

Whichever you choose, we hope today’s guide helped you understand where your crypto actually lives – and how to keep it safe

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Over the past 24 hours, Ripple’s $XRP coin reclaimed the $3 level before falling back just below. But is this a sign of a bullish resurgence or a temporary high before it slips right down again?

With the White House releasing its crypto policy report and $RLUSD’s market cap growing, signs may point to the former.

These positive developments could lead to yet another altcoin rally, and train the spotlight on new cryptos like Bitcoin Hyper ($HYPER) and Snorter Token ($SNORT).

White House Ruling, $RLUSD Growth Boost $XRP Rally

$XRP is currently rallying as its issuer, Ripple Labs, potentially comes closer to the end of its legal battle with the Securities and Exchange Commission (SEC).

On July 30, the White House released its eagerly awaited crypto report, which clarifies the role of the SEC and Commodity Futures Trading Commission (CFTC).

According to the report’s proposal, the CFTC will oversee the spot crypto markets, which could reduce the risk of the SEC getting its hands on Ripple Labs in the future. This is seen as a green flag, boosting confidence in Ripple and its $XRP coin.

Aside from the White House report, the news of $RLUSD reaching a $600M market cap added fuel to $XRP’s surge.As Ripple’s stablecoin, $RLUSD requires $XRP for fees for transactions on the XRP ledger. These $XRP coins are then burned, which reduces supply and increases the token’s utility and value.

Thanks to these developments, $XRP was trading above the $3 mark for several hours this morning, and is up by 3.74% in the last 24 hours.

3 New Cryptos to Watch Out for as $XRP Surges

With Bitcoin ($BTC) down at the moment, altcoins appear to be picking up the slack in the crypto market. Ethereum ($ETH) and $XRP are leading the way, with a growth of 1.93% and 3.74% over the past day, respectively.

This altcoin surge bodes well for new cryptocurrencies, giving them much-needed attention as traders rotate to coins with greater growth potential. If you’re on the hunt for high-risk, high-reward tokens, consider the following:

1. Bitcoin Hyper ($HYPER) – Delivers Speed, Flexibility, and Low Fees to the Bitcoin Ecosystem

As the first crypto, Bitcoin has a level of prestige that no other coins have. But its status as a pioneer also has downsides; transactions are slow and expensive, and the chain has limited scalability.

But thanks to Bitcoin Hyper ($HYPER), Solana-level speeds, low transaction costs, and expanded features on the Bitcoin ecosystem may finally be at hand.

The key to this is the creation of a Bitcoin Layer 2. More than just making Bitcoin faster and cheaper, it’ll retain the robust security the chain is known for.

The project has already raised over $6.6M since its token presale began, making it one of the best presales of 2025. You can still get $HYPER for only $0.012525 via the Bitcoin Hyper website.

You can stake your tokens and enjoy a 156% p.a. reward rate, or HODL for growth, which, based on our Bitcoin Hyper price prediction, could be some 2,683% by the end of 2025.

2. Snorter Token ($SNORT) – Makes Finding the Next Big Crypto Easy

Finding the next big crypto can be difficult these days, considering how many coins are launched on various chains regularly. Even more difficult is filtering out potential scams from new cryptos with real growth potential.

This is where Snorter Token ($SNORT) comes in. It’s an ICO for a project aiming to develop Snorter Bot, a Telegram-native bot that simplifies buying and trading crypto.

With Snorter Bot, you’ll be able to snipe, buy crypto, manage your portfolio, and more. It’ll also come with a rugpull and honeypot detection feature that will help you avoid scams.

To get the most out of the bot, you can buy its native $SNORT token. Priced at only $0.1003 at the Snorter Token presale page, $SNORT will unlock exclusive features, like lower transaction fees, unlimited snipes, and governance rights.

You can also stake your tokens, if you prefer, and earn rewards at a rate of 157% p.a. Our Snorter Token buying guide has all the details you need to buy and stake $SNORT.

3. Bitcoin Penguins ($BPENGU) – Investing in New Crypto Made Quick and Easy

If you want to get your new crypto ASAP, look no further than Bitcoin Penguins ($BPENGU). Lasting just one month from July 28 to August 27, the presale will have 15 stages, with the price increasing by 5% each time.

This allows you to appreciate your investment fairly quickly by joining the presale early. $BPENGU tokens are currently priced at $0.00122, but with three stages done and a price increase happening in less than 20 hours, it’s best to act as quickly as you can.

Once the presale concludes, the tokens will be claimable and listed on exchanges on September 2. You can opt to get your tokens right away or HODL and let them appreciate over time.

Are Altcoins, New Cryptos Back on the Table?

With $XRP’s most recent rally, investors are cautiously optimistic about a new round of altcoin surge. The White House’s July 30 report and $RLUSD’s $600M market cap should help put some legs on $XRP’s and the altcoin market’s rebound.

This should also benefit new cryptos like Snorter Token ($SNORT) and Bitcoin Hyper ($HYPER) as they work towards raising funds for their respective projects.

Disclaimer: Please do your own research before you invest. This is not investment advice.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

Blockchain Banter Live

As the host of Blockchain Banter, I recently sat down with Dr. Mark Richardson, Project Lead at Bancor and Carbon DeFi, and Yves Burri and Oliver Giera, the Founder and Co-founder of Aureus — a Real World Assets (RWA) protocol that’s quickly becoming a go-to solution for institutions entering the space.

This episode unpacks why now is the time for RWAs, and the pieces coming together to make it possible.

What Held Them Back? Enforceability

https://medium.com/media/3dc915b57e46591df33c8e31f269d0de/href

“If you go into the office of a $100 million fund and pitch tokenized assets, they won’t rely on regulation that will hopefully rule in their favor. They need certainty. They need to know: ‘Can I enforce my rights in court?’”

Aureus spent years fusing together institutional-grade infrastructure with meticulously designed legal blueprints and compliant frameworks — and for the first time, the answer to institutions’ biggest question is an unequivocal yes.

“Now, institutions aren’t just curious — they’re actively reaching out. They want to be among the first movers.”

But enforceability alone doesn’t complete the picture. Compliance without privacy isn’t enough.

COTI and the Compliance-Privacy Paradox

https://medium.com/media/53b7b513e191b9248468ff26ecbd8c68/href

Institutions have another non-negotiable requirement: not just privacy, but the right kind of privacy.

As Yves put it, Monero is a cypherpunk’s dream — but for a regulated market? “It’s dangerous to even list.” The issue isn’t privacy itself — it’s unaccountable privacy.

“Society is okay with Aunt Josephine having privacy over her bank account. But when Osama Bin Laden asks for privacy to buy remote controllers, that’s where lines get drawn.”

Yves mentioned there were a number of privacy solutions out there, but only with COTI’s Privacy-on-Demand technology did Aureus find a privacy solution that doesn’t jeopardize compliance.

“It stays sealed unless a legitimate authority has a reason to look inside.”

With enforceability addressed and privacy secured, one barrier still remained — an institutional-grade trading system that could actually support large asset transactions.

This is where “Bancor’s Carbon DeFi completes the puzzle”.

Bancor and the Institutional DEX Problem

https://medium.com/media/6df0a676ccd92e6b18b12b4f222fa3b1/href

“The infrastructure that you have to provide to cope with the compliance, scale, and just general structure and experience of a traditional finance player — this has not been there in DeFi three, four years ago.”

“Carbon DeFi, the single-sided order book curves that you provide — this not only complies with what a private equity or private debt [holder] would want… It goes beyond that. It allows them to effectively scale in and out of assets based on parameters they can define.”

In other words, Carbon DeFi doesn’t just meet institutional expectations — it lets them trade on their own terms, with programmable precision.

“It’s almost like you can define a term sheet with very elaborate terms that they’re used to, and you can put it onchain as a passive order.”

And unlike most DEXs, Carbon DeFi is resilient by design.

“There’s no sketchy or elaborate mechanisms that people could run sandwich attacks or try to move your order curve in any way. There’s simply no incentive — you would just lose money and essentially play into the hands of the strategy maker.”

This level of control and predictability? Unmatched and native to the protocol, with no third party dependencies or risks involved.

“Many of these things are such a novelty. But they really, for us, make such a strong case when we talk to these institutional players… Nothing else offers this level of flexibility — not even close.”

Not All DEXes are Built the Same

https://medium.com/media/c38afaf734a3a81dc3acfe49d0af7984/href

“You guys are titans of the DeFi industry. You invented the AMM and in my opinion, you kind of invented DeFi… but now you’ve invented a much better product than even the AMM — which is Carbon DeFi.”

“Nobody is going to sell a $20 million infrastructure asset on Uniswap… but now with Carbon DeFi, with your idea of an onchain order book, you brought a solution. We couldn’t really do what we want to do without this part of the puzzle.”

For Aureus, Bancor was the final layer that brought their institutional blueprint to life.

*If you’re a builder and want to integrate Carbon DeFi directly, contact bizdev@bancor.network for licensing opportunities.

From Idea to Execution

With COTI’s Privacy-on-Demand and Bancor’s Carbon DeFi, each solved a fundamental piece — from compliant privacy to programmable, institutional-grade trading infrastructure. But it was Aureus bringing them together, and bringing crypto closer to true institutional adoption.

Watch the full episode — Presented by Bancor

https://medium.com/media/ed1106cf32e41acedc42129996ad6c18/href

Blockchain Banter is a live, unscripted discussion series where industry experts, builders, and thought leaders come together to share knowledge, challenge ideas, and explore the evolving landscape of DeFi and blockchain.

Follow me on X and LinkedIn, and reach out if you’re interested in joining a future episode – I love connecting with builders, thought-leaders, and especially skeptics.

Aureus

Aureus is engineering a new era of sovereign, resilient finance — a trusted bridge that liberates trillions in real-world assets and channels them into the world’s most liquid capital markets. Our ecosystem is anchored by AUg, a gold-backed settlement token, and a fully regulated exchange for tokenised equities. By fusing institutional-grade decentralised infrastructure with radically simple user experience — and upholding our Swiss Standard of Trust — we are building a fairer, more robust global economy.

COTI

COTI is renowned for its “Privacy-on-Demand” solution, a revolutionary approach to on-chain confidentiality. By utilizing an innovative implementation of garbled circuits, COTI enables encrypted and compliant transactions, protecting users from front-running and other malicious attacks without compromising on-chain liquidity.

Bancor

Bancor is a pioneer in decentralized finance (DeFi), established in 2016. It invented the core technologies underpinning the majority of today’s automated market makers (AMMs) and continues to develop the foundational infrastructure critical to DeFi’s success — focusing on enhanced liquidity mechanics and robust onchain market operation.

For more on Bancor

Website | Blog | X/Twitter | Analytics | YouTube | Governance

Carbon DeFi

Carbon DeFi, Bancor’s flagship DEX, enables users to do everything possible on a traditional AMM — and more. This includes custom onchain limit and range orders, with the ability to combine orders into automated buy low, sell high strategies. It is powered by Bancor’s latest patented technologies: Asymmetric Liquidity and Adjustable Bonding Curves.

For more on Carbon DeFi

Website | X/Twitter | Analytics | Telegram

All products of Bancor are governed by the Bancor DAO.

Simply Powerful Trading — Powered by Bancor

Crypto’s Turning Point — RWAs and the Rise in Regulation was originally published in Bancor on Medium, where people are continuing the conversation by highlighting and responding to this story.

The Aqua1 Foundation claimed it was operating independently in response to journalist Jacob Silverman’s report. However, the foundation did not answer some important questions. However, among all the dramas, there are strong rumors that the WLFI Crypto token will be released for deals this week or next week.

Silverman published the investigation Monday, claiming that he found a link between Aqua1 Foundation and Web3port through shared web hosting and duplicates.

Femme!

Rumors that will lead to Aqua1, $ wlfiThe $100 million backer, which has been banned by the Chinese company Web3port, is swirling.

Aqua1 denies that, but Dave Lee (aka David Jia Hua Li), who shared his AWS footprint and past connections, keeps the question alive.

Crypto or geopolitical chess? pic.twitter.com/izexshozhp

– Vanessa (@_0xvane) July 16, 2025

More twists and turns on AQUA1/WLFI Crypto Drama claim Dave Lee is affiliated with market makers below burns

He said the founder of Aqua1, known as Dave Lee in X, is actually David Li, and the contact profile for its outreach platform lists him as Web3port’s partner and senior project manager.

The Aqua1 Foundation was scrutinized in late June after purchasing a $100 million worth of governance token from World Liberty Financial, a cryptocurrency project supported by former US President Donald Trump and his family.

The investigation raised concerns that entities supporting the president’s debt initiative could have links with Web3port, a company accused of manipulating cryptocurrency prices.

Lee attempted to distance himself from Web3port and said he left his previous role in his “previous employer” due to “a fundamental difference in vision and strategy.” However, he has not explicitly confirmed or denied that he is David Lee or that Aqua1 is connected to Web3port.

Silverman is a journalist known for his critical reports about Trump and his relationship with the cryptocurrency industry. Last week, he published an article nationwide entitled “Does Trump’s biggest code patronage exist?” He raised questions about the legitimacy of the Aqua1 Foundation, particularly after committing $100 million to WLFI Crypto.

Silverman reported that the public presence of Aqua1 is composed primarily of numbers known only as “Dave Lee” by obscure websites, social media accounts being suspended. In a follow-up survey on his site, he said Lee is Web3port’s David Li based on LinkedIn records and analysis of past meeting appearances.

I have identified “Dave Lee” (@leedave_aqua), a person with a pseudonym behind the Aqua 1 Foundation. Last month, Trump announced a $100 million contract with World Liberty Financial. I think it’s important to know who will pay the US president. https://t.co/6dipcpm54v

– Jacob Silverman (@silvermanjacob) July 14, 2025

Discovered: Top Solanamime Coins to buy in July 2025

Aqua1 responds to Silverman: threatens legal action

Following the release of the report, Aqua1 issued a statement on X, claiming it was “operated independently and has no fair, financial or operational relationships with unrelated entities.” It warned that it would pursue legal action against defamation or effectively false reports.

The statement appeared to deny its relationship with Web3port, but did not mention the company by name and did not address whether Web3port qualifies as an associated entity.

One of Silverman’s important findings is that Aqua1 and Web3port shared the same server IP address and along with several other crypto-related domains. Initially, Aqua1 ignored this point. However, when pushed on social media, Lee responded to Aqua1 by claiming that it had “no relation to any other teams or entities.”

“The shared IP was simply due to early transition hosting. I brought in the CTO and core IT members when I left,” Lee wrote to X.

“After many attempts to contact his colleagues and the WLF, I got an email last night,” Silverman said in a leaked message exchange. “It didn’t include any denials at all and didn’t clarify the details of my report.”

Official Statement of Aqua1

I’ve noticed recent online speculations about AQUA1 and its team. To prevent the spread of incorrect information, we would like to clarify the following:

Team background

Dave Lee has joined AQUA1 as a co-founder…

– Aqua1 Foundation (@aqua1fndn) July 15th, 2025

In a screenshot of the email received by Silverman, Lee outlined the ongoing development of stubcoins, real-world assets and initiatives in the Middle East. The message stated that certain details are subject to regulatory and compliance restrictions and cannot be publicly disclosed at this time.

“However, if there is a specific point you want to clarify, we are pleased to provide factual information and do our best to support accurate reporting. We value constructive dialogue and are open to continuous engagement,” reads the email screenshot.

However, through the front and rear exchanges between Lee and Silverman, Lee informed him whether he was David Lee, who belongs to Web3port.

WLFI Crypto is rumoured to go live for a deal soon

In that case, there is only 7 hours left $ wlfi A governance vote to make tokens tradeable.
Once approved, this will allow open market transactions for the first time.
Do you have any insight into when the first exchange list will occur? pic.twitter.com/8bradv1sdl

– cryptoprofilers (@cryptoprofilers) July 16, 2025

There are only a few hours left to go to governance votes to be voted for WLFI Crypto holders on whether to make tokens tradeable. Currently, it is 99.94% in favour of enabling WLFI for transactions, and once this vote is over, it is possible that the date WLFI will be listed on the exchange will be announced.

It seems like a natural conclusion given that Binance’s list is built on the world’s Liberty Financial, its USD1 stubcoin, and Binance’s BNB smart chain. The close relationship between the two companies is transparent, so investors can expect a list of the world’s largest crypto exchanges on the first day.

Coinbase is one of the famous exchanges that may not list WLFI on the first day due to the continued tension between Binance and its co-founders CZ and the World Liberty Financial Project. There are rumours that Coinbase has adjusted its recent Bloomberg hits with WLFI Crypto and CZ, but the exchange has denied these claims.

However, aside from Coinbase, traders can expect a day listing of WLFIs on Binance, Bybit, OKX and other top tier exchanges due to the hype and demand surrounding the launch of this token. The exchange will want to secure a share of the expected liquidity that will be poured into WLFI upon launch.

Keep an eye out for the official world Liberty Financial Social Media Channels at the time when WLFI Crypto is published for the transaction.

Exploration: 20+ Next Cryptographs to Explode in 2025

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On June 11, PayPal announced plans to launch its U.S. dollar-backed stablecoin, PayPal USD (PYUSD), on the Stellar blockchain network, pending regulatory approval from the New York State Department of Financial Services. If approved, the move would mark the expansion of PYUSD beyond its current availability on Ethereum and Solana.

PayPal described Stellar as a blockchain tailored for low-cost, high-speed payments with strong real-world utility. By adding support for Stellar, the company aims to improve the accessibility and usability of PYUSD for payments, cross-border transfers, and financial services. The integration is expected to enhance daily payment options and provide users with expanded access to financing tools such as working capital and small business loans—areas where Stellar is already active.

The press release emphasized Stellar’s existing global infrastructure, including a broad network of on- and off-ramps, local payment systems, and digital wallets, which could help bring PYUSD to users in over 170 countries. PayPal also highlighted potential benefits for liquidity and settlement through PayFi, an emerging digital financing mechanism that would allow businesses to access real-time capital disbursed in PYUSD on Stellar.

May Zabaneh, PayPal’s vice president for digital currencies, said the partnership would help advance the use of blockchain in cross-border payments. Denelle Dixon, CEO of the Stellar Development Foundation, said the collaboration could help bring practical stablecoin use to emerging markets and small businesses globally.

PYUSD is issued by Paxos Trust Company and is fully backed by cash and cash-equivalent reserves, with a fixed redemption value of $1.00 per token.

Earlier this in a short video released by Stellar Foundation, Ian Burrill, a Senior Director at PayPal who manages the crypto engineering team, explained why his firm was excited about the launch of PYUSD on Stellar. Burrill said that Stellar is a fast, low-cost network and it extends PYUSD’s reach to 180 plus countries. He went on to say that enabling merchants to use PYUSD on Stellar lets them send money in real-time, which makes for more efficient capital management.

Technical Analysis

• Stellar’s XLM token recorded significant price appreciation during a 24-hour trading period from July 11 at 17:00 UTC to July 12 at 16:00 UTC, with shares moving within a $0.071 range representing approximately 20.59% volatility between a session low of $0.345 and high of $0.416, according to CoinDesk Research’s technical analysis model.
• The most notable trading activity occurred during early morning hours on July 12 at 01:00, UTC when XLM shares advanced from $0.354 to $0.393 on substantial volume of 551.38 million units, significantly exceeding the 24-hour average of 234.19 million and establishing technical support near the $0.354 price level.
• The upward momentum persisted through July 12 at 11:00 UTC, reaching a session high of $0.416, before encountering resistance in the $0.400-$0.403 range where institutional profit-taking appeared to limit further advances.
• In the final hour of trading from July 12 at 15:47 UTC to 16:46 UTC, XLM demonstrated renewed strength with a 3.89% advance from $0.37 to $0.39, extending the session’s positive momentum.
• The most significant price movement occurred between 16:03-16:08 UTC when shares climbed from $0.374 to $0.385 on elevated volume of 13.16 million and 17.14 million respectively, well above the hourly average of 3.2 million units.
• This activity established technical support around $0.385-$0.387 where shares consolidated through the session’s final 30 minutes, with market participants eyeing potential continuation toward the $0.39-$0.40 resistance levels identified in broader technical analysis.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Q2 2025 sent a decisive message: After the turbulent phase, Crypto has returned to the top! The cryptocurrency sector has posted a robust 21.72% return, surpassing all major US equity indices by wide margins.

The crypto market has left US stocks in the dust. According to 99Bitcoins Q2 2025 Crypto Market Report It was released on July 10, 2025 “Most US equity indexes were under 15% in quarterly (QTD) earnings, with only the S&P 500 information technology sector rising 18.4%. The broader S&P 500 was just 7.37%.

Interestingly, the crypto industry fell 18% in the first quarter of 2025. Therefore, the second quarter rebound is a significant recovery. Cryptocurrency profits for the second quarter of 2025 outperformed performance in the past few years, falling 14.44% in the second quarter of 2024.

Discover: 9+ Best High Risk, High Reward Crypto Buy in July 2025

So, what has helped drive Crypto’s outperformance?

Why did it help drive Bitcoin domination to 63% over four years? The interest of institutional investors stood out. Retailers shifted their focus to Altcoins, but the institutions favored Bitcoin.

Investors’ interest in Crypto was featured in the second quarter, according to a 99bitcoins report. “In April, blockchain-related mentions in SEC filing reached a record high of 5,830, perhaps due to the Trump administration’s pro-cryptic approach,” the report said.

Additionally, the US government has passed major laws and executive orders that provide much needed regulatory clarity and broadly support the crypto market. In particular, the removal of IRS reporting rules for the Defi platform and relaxed requirements for banks engaged in cryptographic activities has boosted confidence across the sector.

After hitting lows in March 2025, Crypto Fear and greedy indicators rebounded into the “greedy” territory for over 60 days, supported by positive policy signals.

Just yesterday, Bitcoin (the world’s most valuable code was pushed over $117,000, and buyers stepped in today, lifting BTC ▲6.76% to an all-time high of $118,409. The fear and greedy index from 99 Bitcoin shows a read of “67”.

Read more: Bitcoin hits ATH without FOMO, Bitcoin Hyper raises $2.3 million

Chris Wright, Head of Global Marketing at 21Shares, shows the weight. “This will result in a net inflow of about $55 billion in 2025, representing an increase of about $20 billion year-on-year. If this trend continues, the total assets under management will be doubled, exceeding the current $110 billion, and more than doubled by the end of the year.”

Stablecoins steal spotlight

Job openings in the Web3 sector suddenly increased in June 2025. Ripple, Arbitrum Foundation, Stellar and Ava Labs are one of the companies that actively employ a variety of roles, and OKX and Kraken announced the expansion of their web3 teams. “This type of employment is typical in bull markets and reflects a strong belief in the industry’s growth potential,” the report states.

However, Stablecoins have led to demand across the sector. According to the report, 81% of SMBs (SMBs) who are familiar with Crypto are interested in using Stablecoins for their daily operations.

Additionally, the number of Fortune 500 companies planning to use Stablecoins has been a triple since 2024.

The circle’s successful IPA – if the company’s stock price rises 168% on its debut, it is evidence of Stablecoin-related appetite and exposure.

Discover: 16 Next Cryptocurrency Explosions in 2025: Experts’ Cryptocurrency Prediction and Analysis

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90 hours+

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2000+

Crypto project reviewed

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