Decentralized Finance

XRP remained above the key $1 level after a stable United States inflation reading reduced expectations for a September rate increase. The token still faces pressure from the Coreum bridge hack, bearish momentum signals, and a possible downside scenario if support fails.

Harmony’s ONE token fell about 26% in Asian morning trading after an apparent exploit created roughly 4 billion new tokens. The team said it is working with exchanges to freeze funds while preparing a software patch and considering rollback options.

Blockchain Association CEO Summer Mersinger is pushing back against criticism of the Clarity Act, arguing that the bill supports innovation, competition and consumer protection. The debate centers on stablecoin rewards, DeFi oversight, tokenized securities and whether crypto market structure rules should favor open competition or incumbent institutions.

Fun CEO Alex Fine says standalone crypto onramps and bridge interfaces are likely to disappear as applications embed payments into their own products. The shift would move Web3 closer to a Web2 style experience, where users focus on the app action rather than the payment plumbing underneath.

Ethereum remains central to decentralized finance, but the rapid growth of perpetual futures has shifted much trading activity toward faster venues such as Hyperliquid, Solana, Arbitrum and Base. Market participants increasingly frame Ethereum less as the main execution venue for high speed perps and more as a settlement, collateral and liquidity foundation for onchain markets.

Coinbase Canada’s new CEO Eric Richmond says the exchange wants to bring more advanced crypto products to Canadian users, including derivatives, decentralized finance services and tokenized assets. He argues that Canada needs a permanent, harmonized digital asset framework rather than relying on temporary exemptions and fragmented guidance.

The Senate’s Digital Asset Market Clarity Act is moving closer to a vote after lawmakers released an integrated draft. Key disputes remain over ethics rules, state enforcement powers, illicit finance provisions and agency representation.

Allbridge Core has halted operations after a flash loan exploit drained roughly $1.65 million from its Solana liquidity pools. The incident centered on a $1.12 million Kamino flash loan used to manipulate USDC and USDT pool ratios before funds were bridged away.

Bonzo Lend suffered an estimated $9.05 million loss after an attacker exploited a verification flaw in a third-party Supra oracle contract on Hedera. The incident triggered a sharp decline in liquidity, with Bonzo’s total value locked falling 77% and Hedera’s network TVL dropping nearly 40% in 24 hours.

The FCA’s new crypto framework is being viewed as a major step toward regulatory clarity for digital assets in Britain. Market participants say its support for global liquidity and overseas stablecoins is promising, though authorization hurdles and unresolved DeFi questions could slow adoption.

Ethereum Foundation co-executive director Hsiao-Wei Wang has resigned after returning from sabbatical and reassessing her priorities. Her exit follows Tomasz Stańczak’s departure and deepens concerns over the foundation’s leadership shake-up.