- 14 Aug 202619:30Analytics
MAJOR UPCOMING EVENTS THIS AUGUST!A full list of Major Upcoming Events, to be updated
Source - 14 Aug 202618:30Project update
JPMorgan Ended Banking Relationship With Polymarket Over Regulatory ConcernsJPMorgan Chase ended its banking relationship with prediction-market platform Polymarket last year amid regulatory concerns, according to the Financial Times.
The bank reportedly notified Polymarket in October to find a new banking partner. Polymarket has since established a relationship with another lender, although its identity remains undisclosed.
JPMorgan still maintains ties with Polymarket across multiple entities and operational integrations and could remain a candidate to underwrite a potential IPO.
Polymarket said it continues to have a “close, active relationship” with JPMorgan, including in areas related to customer fund flows.
Source - 14 Aug 202617:30Project update
Binance bStocks Becomes Second-Largest Tokenized Stock IssuerBinance bStocks has overtaken xStocks to become the second-largest tokenized stock issuer, with $610.6M in value, according to Token Terminal.
Ondo Finance remains the market leader at roughly $927M, while xStocks follows closely behind at $601.2M.
bStocks reached more than $600M in value within two months of launching, highlighting the rapid growth of tokenized equities and Binance’s ability to leverage its large crypto user base.
The tokenized stock market tracked by Token Terminal has expanded from roughly $80M to $2.7B over the past year, more than 30x growth.
Binance’s bStocks allow eligible users to gain exposure to U.S. equities through onchain tokens, with supported positions convertible 1:1 to and from the underlying stocks.
Source - 14 Aug 202616:30Project update
Kraken Parent Reports $508M Q2 Revenue as Growth Expands Beyond TradingPayward, the parent company of Kraken, reported $508M in adjusted revenue in Q2, up 17% YoY, while remaining adjusted EBITDA positive at $23M despite weaker crypto spot volumes.
Platform transaction volume fell 13% YoY to $310B, but Payward gained spot market share for the third consecutive quarter as activity expanded beyond crypto trading.
Asset-based and other revenue now accounts for 60% of total revenue, up from 55% a year earlier, highlighting Payward’s shift toward a broader financial platform.
Funded accounts jumped 42% to 6.6M, while assets on the platform reached $40B, with the company pointing to strong momentum in Europe following its MiCA authorization.
Payward is also expanding through acquisitions, recently adding Bitnomial, Reap, and Magic Labs’ wallet infrastructure to its derivatives, payments, and embedded-wallet offerings.
The company’s IPO plans remain on hold, with no new timeline announced.
Source - 14 Aug 202614:30Project update
Radiant Prime Integrates Chainlink Proof of Reserve for Onchain TransparencyRadiant Prime is adopting Chainlink to verify the reserves backing its tokenized investment strategy, adding an independent layer of transparency to its market-neutral approach.
Chainlink Proof of Reserve enables smart contracts and DeFi protocols to monitor and verify the assets backing tokenized strategies, strengthening transparency and reducing reliance on trust.
Radiant Prime combines 200+ research signals, delta-neutral hedging, automated execution, and continuous risk controls to generate market-neutral returns across liquid digital-asset markets.
The integration adds another layer of verifiable transparency alongside Radiant Prime’s existing verification infrastructure from RedStone and Accountable.
Source - 14 Aug 202612:00Project update
RedotPay delays its US IPO amid Binance lawsuitRedotPay, the largest crypto card provider, has pushed back its planned US IPO from this year to 2027 or later, per Bloomberg, as it works through regulatory approvals and a costly legal fight.
The delay follows a Hong Kong suit from Binance-linked entities against RedotPay's founders seeking about $473 million. They allege the founders broke a partnership agreement and improperly diverted more than 470,000 Binance Card users onto RedotPay's own card, a cohort Binance argues helped inflate RedotPay's valuation.
The listing, worked by JPMorgan, Goldman Sachs and Jefferies, had targeted a valuation above $4 billion and a raise of over $1 billion. RedotPay says it will vigorously defend all claims.
Source - 14 Aug 202611:00Project update
Plume and Shinhan to build a tokenized Won bond fundRWA blockchain Plume has signed an MOU with Shinhan Asset Management, one of Korea's leading managers with about 133.6 trillion won under management, to develop a KRW-denominated tokenized fund.
The proof of concept will put a fund backed by ultra-short-term Won bonds onchain, testing how won-denominated products can move onto blockchain rails. The pilot is set to run in an offshore jurisdiction outside South Korea, working around local restrictions while the two prove out the model.
It is another step in Korea's fast-moving push to tokenize won assets, and follows Plume's earlier work on a KRW1 stablecoin with BDACS as it builds out won-denominated onchain infrastructure.
Source - 14 Aug 202610:15Project update
Databricks raises $5B at a $190B valuationAI data company Databricks has closed a $5 billion funding round at a $190 billion valuation, a sharp jump from around $134 billion just six months earlier.
The round was led by Coatue, with Blackstone, MGX and T. Rowe Price joining alongside existing backers like Andreessen Horowitz, Thrive Capital and Temasek. Databricks' annualized revenue run-rate has passed $7 billion, growing more than 80% year over year, as CEO Ali Ghodsi leans hard into the AI boom.
The step-up cements Databricks among the most valuable private companies in the world and shows investor appetite for AI infrastructure leaders is still running hot despite bubble worries.
Source - 14 Aug 202609:30Project update
SharpLink to stake $200M of ETH through LidoSharpLink, one of the world's largest corporate holders of ETH, is putting $200 million of it to work through Lido, the biggest liquid-staking protocol on Ethereum.
The allocation is roughly 106,000 ETH, about 12% of SharpLink's 888,938 ETH as of Aug 3. It comes back as wstETH held in custody with Anchorage Digital, and adds Lido to the company's existing staking and restaking strategy as it pushes to make its treasury maximally productive for shareholders.
Lido already accounts for the majority of liquid-staked ETH, with roughly $16.5B staked through it, so a treasury this size leaning in further concentrates staked ETH in the market's dominant protocol.
Source - 14 Aug 202608:45Project update
FG Nexus exits its ETH treasury after a $45M lossFG Nexus, the Nasdaq-listed merchant bank formerly known as Fundamental Global, has wound down its Ethereum treasury less than a year after launching it, selling every token and holding no crypto by June 30.
An Aug 12 SEC filing shows its discontinued digital-asset operation lost $45.2 million in the first half, against just $144,000 of staking revenue. That figure is the total loss from the wound-down unit, including ETH markdowns and impairments, not a clean realized sale loss. The firm held more than 50,000 ETH at its peak and pulled in roughly $61 million of cash from the sales.
The board now plans to reallocate that capital into cash-flowing real estate, targeting manufactured-housing parks and a possible tie-up with FG Communities, though that deal is still preliminary.
Source