This partnership fills the critical gap of closed US markets at night, offering investors, especially in Asia, on-chain access to SEC-regulated institutional flows.

Pyth also introduces Pyth Pro, a premium offering at $10,000/month providing access to over 2,000 real-time multi-asset flows, integrated into a three-tier range (Crypto, Crypto+, and Pro).

This article is brought to you with the help of a press release shared by Pyth Network. (en savoir plus)

An exclusive strategic move for Pyth

Pyth Network takes a decisive step by announcing an exclusive partnership with Blue Ocean ATS, a leader in overnight trading on US stocks. Until the end of 2026, Blue Ocean will exclusively provide its data to Pyth, making the network the only on-chain infrastructure capable of distributing institutional price feeds, registered with the SEC, during critical after-market hours.

It represents nearly 11,000 National Market System symbols and around $1 billion in traded volume each night. This fills one of the biggest “black holes” in the current financial infrastructure: the Wall Street overnight window.

Filling the gap in overnight markets

From 2-10 AM CET each week, traditional American markets are closed. However, global markets continue to operate, amidst geopolitical reports and earnings announcements that impact prices. Asian investors, in particular, require reliable data to adjust their US stock exposures.

Blue Ocean ATS was designed to address this issue. Since 2021, it has emerged as the pioneer in overnight trading on NMS stocks with over 5,000 tickers traded each night, a status as an SEC-regulated ATS supervised by FINRA, and a record of nearly $5 billion processed in a single session.

With this exclusivity, Pyth now brings these data on over 100 blockchains, paving the way for sophisticated equity strategies in DeFi and giving on-chain applications direct access to regulated institutional feeds.

Pyth Pro, a comprehensive and restructured offering

Simultaneously, Pyth unveils Pyth Pro, its new premium offering tailored for institutions and large enterprises. For $10,000/month, clients gain access to over 2,000 multi-asset price feeds (stocks, commodities, currencies, bonds, cryptocurrencies…) with sub-millisecond latency and dedicated support.

The range is now structured into three tiers:

• Pyth Crypto (free): crypto feeds every second.
• Pyth Crypto+ ($5,000/month): crypto feeds in milliseconds.
• Pyth Pro ($10,000/month): global multi-asset coverage, including redistribution rights.

By combining an aggressive pricing strategy with exclusive partnerships like Blue Ocean ATS, Pyth confirms its ambition: to become the global reference for financial data distribution in a world where the line between TradFi and DeFi is increasingly blurred.

The article Pyth Network: A Strategic Partnership with Blue Ocean ATS appeared first on Coin Academy.

From Categorical Rejection to Pragmatism

In January 2024, when the first spot Bitcoin ETFs emerged in the US, Vanguard promptly shut the door. The official stance? These products were deemed too risky to generate long-term solid returns, a historical creed of the house founded by Jack Bogle. However, Salim Ramji’s arrival at the helm of the company raised doubts. As the former head of ETFs at BlackRock and a key figure in the launch of IBIT, he was seen as a leader favorable to digital assets. Yet, by August 2024, he reiterated that Vanguard had no intention of launching its own crypto ETFs.

Today, the nuance is significant: while Vanguard still has no plans to issue its products, the asset manager is indeed considering opening access to third-party ETFs. In essence, clients could soon invest through the Vanguard platform in competitors’ Bitcoin or Ethereum funds.

An Impossible Demand to Ignore

Behind this shift, a simple realization emerges: the pressure comes from the investors themselves. According to a source close to the matter, the firm is “methodically analyzing” options to address a growing demand. With nearly 50 million clients and a reputation as a long-term stalwart, Vanguard can no longer afford to remain a bystander.

Regulatory context also favors this change. Under the Trump administration, the SEC not only eased pressure on the sector but also approved new standards accelerating the entry of crypto ETFs into the market. Within this framework, ignoring the trend would mean disconnecting from a portion of the market.

A Game-Changer for the Industry

If Vanguard follows through with this reversal, the leverage effect will be massive. The company is twice the size of its direct competitor in the US, and its entry, even indirectly, into the world of crypto ETFs would skyrocket their legitimacy among a more conservative audience. Michael Saylor, co-founder of MicroStrategy, did not hesitate to point out that Vanguard is already a major shareholder in companies exposed to Bitcoin, despite its official anti-crypto stance. On the other hand, analyst Eric Balchunas of Bloomberg sums up the situation with a hint of irony:

Vanguard is looking to end its ban on Bitcoin ETFs. It’s smart, Bitcoin and Ethereum ETFs are extremely popular, and Salim knows exactly how it works.

The potential approval from Vanguard not only signifies new access for its millions of clients but could also definitively dispel the idea that Bitcoin and Ethereum remain marginal assets in traditional finance.

The article Vanguard Eyes Opening Access to Competitor’s Crypto ETFs appeared first on Coin Academy.

Des liquidations, puis des remboursements en USDT

As soon as the incident was noticed, Aster reassured users with a message: ‘all funds are SAFU.’ A few hours later, the platform confirmed that it had fully reimbursed in USDT the liquidated traders, along with compensation for fees related to positions and liquidations. A quick response, distributed in less than three hours according to the project.

On paper, everything seems resolved. But behind these reimbursements lies a much deeper unease.

Un bug ou une négligence opérationnelle ?

Speculations quickly arose: several users accused Aster of mismanaging the transition between the testing phase and the official launch of the XPL market, some even suggesting that the Aster team had confused the XPL token with a stablecoin (Plasma being a blockchain specialized for USDT). During the preparatory phase, the index was artificially set at $1, with a price capped at $1.22. As demand for the token increased, traders were unable to place higher orders. Once these safeguards were removed, the system found itself ‘in the void,’ unable to track the real price, causing this sudden spike to $4 before quickly dropping back down.

Aster, on the other hand, has not confirmed any of these explanations, merely promising an internal investigation. But doubt lingers. For a platform already boasting volumes surpassing Hyperliquid, this technical fragility is anything but trivial.

Especially since the project is supported by YZi Labs, an entity linked to Changpeng Zhao’s circle. This situation only fuels criticism of the governance and reliability of the decentralized exchange.

Des millions en jeu, une transparence limitée

The exact amount of compensated liquidations remains unknown. Community estimates mention several million dollars, yet Aster has not disclosed any specific figures. This opacity further breeds mistrust: transactions on the Aster DEX are not visible on-chain.

Plasma, XPL et la croissance fulgurante d’Aster

This incident comes at the worst time for Plasma, as its mainnet had just launched, already boasting several billion dollars in locked stablecoins and a fully diluted valuation of the XPL token exceeding 12 billion.

As for Aster, its token skyrocketed in a few days, going from a valuation of 560 million to over 15 billion. The platform even took the lead in daily on-chain perpetual volumes in September, surpassing Hyperliquid and all competitors.

But this rapid growth, coupled with opaque mechanisms like ‘hidden orders’, invisible orders in the order book contrary to the transparency typically emphasized in DeFi, fuels growing mistrust.

Une vitrine qui se fissure

The XPL incident is not just a mere ‘technical glitch.’ It raises fundamental questions about the robustness of Aster and its design choices. The quick response in terms of reimbursements may save face in the short term, but trust is already shaken. In an industry where even the slightest technical flaw can cost fortunes, Aster’s trajectory resembles both a meteoric rise and a ticking time bomb.

The article Aster: Controversy Hits Rising Crypto Platform appeared first on Coin Academy.

Yield Basis: an impermanent loss-free AMM

The promise is simple yet ambitious: a reinvented AMM model designed to completely eliminate the risk of impermanent loss (IL). In traditional pools, every price divergence between assets leads to erosion of earnings. With Yield Basis, this problem vanishes, paving the way for deeper liquidity and finally attractive returns for Bitcoin holders. A wager that could appeal to institutions, previously reluctant to lock up BTC on-chain for less than 2% annual returns.

Capped pools and locked governance

To manage initial growth, the protocol starts with three pools, each capped at $1 million in deposits. This cap strategy limits systemic risks while creating scarcity that could boost early user interest. On the governance front, Yield Basis directly draws inspiration from Curve with its vote-escrow system (veYB). Token holders must lock their YB to influence decisions and earn protocol fees, distributed in crvUSD or wrapped Bitcoin.

A “value-protecting” model

The innovation doesn’t stop at pool mechanics. Unlike most DeFi projects, token emissions are not handed out to liquidity providers. They are dependent on position performance, a system dubbed “value-protecting” by Egorov. This choice aims to align incentives with real yield creation, rather than artificial token inflation.

$5 million and a strategic launch

Yield Basis raised $5 million in early 2025 to fund its development. The protocol also kicks off with the launch of the Legion and Kraken joint launchpad, where the community can participate in token sales. A spotlight move that immediately places the project among the big players.

A vision beyond Bitcoin

While Bitcoin serves as the initial testing ground, Egorov already has broader ambitions. The model could adapt to Ethereum, tokenized commodities, or even stocks. This transformation could turn Yield Basis into a new star of decentralized finance, extending the promise of secure returns to a range of assets.

The article Innovative DeFi Protocol: Yield Basis Revolutionizes Bitcoin Yield Generation appeared first on Coin Academy.

Ethereum and Solana Plunge

Bitcoin, still up by 16% since January, stumbled heavily as it dropped below the symbolic mark of 109,000 dollars, its lowest level in a month.

Ethereum also suffered losses: down 8% in 24 hours, the asset now trades close to 3,850 dollars, wiping out its gains since the beginning of August. The contrast is stark: ETH has already lost 22% since its record last month.

Solana, on the other hand, continues its descent. From being above 250 dollars two weeks ago, it is now below 200 dollars, down 8% just on Thursday.

The Wave of Liquidations Shakes the Markets

The severity of the movement can be attributed to a true market derivatives flush. When prices drop too rapidly, leveraged positions are automatically closed, amplifying the decline. After the 400 million in ETH, Bitcoin follows with 265 million dollars liquidated.

This kind of event highlights the fragility of a market where leverage is prevalent. In one night, thousands of retail and institutional traders saw their bets shattered.

Crypto-related Stocks in the Red

The panic also affected listed companies. MicroStrategy (MSTR), Michael Saylor’s investment vehicle and largest corporate BTC holder, dropped as much as -10%, hitting a five-month low. The stock has erased all its gains for the year and now shows a negative performance of -1.5% since January.

A similar scenario unfolds for companies exposed to Ethereum and Bitcoin: Bitmine (BMNR), Sharplink Gaming (SBET), and mining giants Marathon Digital (MARA) and Riot Platforms (RIOT) lost between 7 and 8% in the session.

Support Levels for Bitcoin

With this latest nosedive, the market is eyeing a key level: 107,000 dollars, the floor from late August-early September. Order books show a liquidity “cluster” at this level, possibly serving as a last line of defense if the market does not recover soon.

But the atmosphere remains tense. Amid hopes for central bank interest rate cuts and unleashed volatility, the crypto world once again demonstrates that nothing is ever guaranteed.

The article Cryptocurrency Market in Chaos: A Dive into Recent Turmoil appeared first on Coin Academy.

In Marking a Historic Milestone for a Listed Company

SharpLink becomes the first public company to native plan its stock on Ethereum. To achieve this, it has appointed Superstate as its digital transfer agent. The goal is to make its shares accessible in the form of tokens compliant with current regulations. The ambition is clear: to demonstrate that blockchain can generate value for shareholders, streamline markets, and transform financial infrastructure.

Tokenization and DeFi, an Alliance in Preparation

SharpLink and Superstate aim to go beyond a simple issuance on-chain. The two companies are already working on solutions to allow tokenized shares to move in the DeFi, particularly via automated market makers (AMM). An approach aligned with the SEC’s Crypto Project, aimed at modernizing digital financial market regulations. “SharpLink will be the first public company to tokenize its shares on Ethereum with Opening Bell, a major milestone,” commented Robert Leshner, CEO of Superstate.

A Strategy Aligned with Ethereum

This shift is not coincidental. Since June, SharpLink has adopted a treasury strategy centered on Ethereum. As a result, they have accumulated over 830,000 ETH (about $3.3 billion) and generated 3,815 ETH in staking rewards, totaling nearly $15.3 million. The company is now the second-largest corporate holder of Ethereum, just behind Tom Lee’s BitMine. At the helm is Joseph Lubin, co-founder of Ethereum and CEO of ConsenSys, who stands by this strategic choice:

As one of the largest ETH holders, this step reinforces our belief that Ethereum will be the foundation of the next generation of financial infrastructure.

An Accelerating Underlying Trend

SharpLink is not alone in the race. Forward Industries (Solana) and Galaxy Digital have already used Opening Bell to tokenize securities, and players like Robinhood, Coinbase, and xStocks have also launched similar solutions. The tokenization of shares is moving from the experimentation stage to the reality of the market. Meanwhile, the SBET stock fell by 5% on Thursday afternoon, in line with the overall crypto market decline. A drop that contrasts with the magnitude of the announcement but confirms that investors are closely monitoring this still nascent transformation.

The article Revolutionizing Finance: Tokenization of Shares on Ethereum appeared first on Coin Academy.

Foundations for a Digital Money System

Plasma is not just another blockchain. Its goal is clear: to become the go-to infrastructure for digital dollar transfers. Its proprietary consensus, PlasmaBFT, already enables fee-free transactions in USDT, at least during the launch phase.

The network is EVM-compatible, allowing developers to easily deploy their existing applications. And the launch was not solitary – over 100 DeFi protocols are already integrated, including Aave, Ethena, Fluid, and Euler.

A High-Pressure Start

The enthusiasm surrounding the project is not new. In June, Plasma made waves with a community deposit campaign: $1 billion raised in just 30 minutes. The operation highlighted massive demand for a dedicated stablecoin infrastructure.

A similar trend was seen during the public sale: $50 million raised, with total demand exceeding $373 million. And the campaign on Binance Earn set a record with $1 billion subscribed, touted as the largest in the exchange’s history in this format.

XPL Soaring at Launch

Market-wise, the excitement is tangible. The fully diluted valuation (FDV) of the XPL token has already surpassed $9 billion on platforms like Hyperliquid. A market cap that immediately positions Plasma among the giants.

CEO Paul Faecks didn’t hold back: “Stablecoins are the 2.0 currency. Enabling universal access to the dollar, irrespective of local economic context, will unlock unprecedented opportunities.”

On Aave, the enthusiasm is equally electric: the Plasma market exceeds a billion dollars in less than 24 hours, setting a historical record for the DeFi platform.

Public Outreach with Plasma One

Plasma isn’t stopping at developer infrastructures. The company unveiled Plasma One this week, a “neobank”-type application centered around stablecoins. Goal: to provide a simple interface for saving, spending, and sending digital dollars. The official launch is slated before the year’s end.

The article Plasma Revolutionizing the World of Stablecoins appeared first on Coin Academy.

Abu Dhabi’s Strategic Move

Abu Dhabi confirms its ambitions in digital assets: M2 Capital, the investment arm of M2 Holdings, has invested $20 million in Ethena and its governance token ENA. This move is not just a financial investment but a clear statement of intent: to make the Middle East, particularly the United Arab Emirates, a nerve center for regulated crypto innovation.

Ethena, Already a DeFi Giant

Launched in early 2024, Ethena has surpassed $14 billion in total value locked (TVL) in less than two years. Its flagship product, the stablecoin USDe, is based on a native crypto model, collateralized by digital assets, and stabilized through delta-neutral hedging strategies. Alongside it, sUSDe, a yield-bearing token, has shown double-digit growth this year, competing with traditional savings accounts.

According to Conor Ryder, Ethena’s research head, “Stablecoins are the most crucial instrument in the crypto ecosystem. Providing a native synthetic dollar is both the biggest challenge and opportunity.”

A Bridge Between Global Finance and the Gulf?

M2’s investment aims not only to strengthen Ethena but also to integrate its products into M2 Global Wealth’s wealth management offerings. The goal is to provide institutions and affluent clients in the region with direct access to the returns of synthetic dollars while adhering to a strict regulatory framework.

We are setting a new standard of trust, security, and integrity in the regional digital asset market.

Perfect Timing for the Middle East

The context favors this alliance. The United Arab Emirates is among the most advanced jurisdictions in the world due to a clear and proactive regulatory environment, spearheaded by the Abu Dhabi Global Market (ADGM). With licenses from ADGM and the Securities and Commodities Authority of the Bahamas (SCB), M2 already operates a multi-regulated platform capable of attracting international capital. The integration of Ethena’s products adds a new dimension: regulated access to crypto returns for regional high-net-worth individuals.

A Strategy of Continuous Expansion

This is not M2’s first foray into large-scale projects. Earlier this year, the group participated in funding the Sui Foundation and supported SUI Group Holdings in a $450 million fundraising effort to bolster its treasury.

The article Abu Dhabi’s Crypto Ambitions with M2 Capital Investment in Ethena appeared first on Coin Academy.

An unprecedented banking consortium for a Euro stablecoin

The participating players are no small fry: ING, Banca Sella, KBC, Danske Bank, DekaBank, UniCredit, SEB, CaixaBank, and Raiffeisen Bank International. Together, they have established a company in the Netherlands, which will apply for an electronic money establishment license from the Dutch Central Bank.

Europe may be catching up, but not so fast: the first issuance is expected in the second half of 2026. The consortium specifies that other banks may join the project, and a CEO will be appointed soon, subject to regulatory approval.

A response to American dominance

Today, the global stablecoin market remains dominated by Tether (USDT) and Circle (USDC), two American giants. With this project, Europe aims to take back control and establish a standard for digital Euro payments. Instant transactions, reduced fees, 24/7 availability: the stablecoin promises to streamline cross-border payments, supply chain management, and digital asset settlements.

According to the consortium, this initiative is not just a technical innovation: it is part of a broad strategy for European autonomy in payments, a sector considered critical for the economy.

MiCA, a catalyst for trust?

The decision to place this stablecoin within the MiCA regulatory framework (Markets in Crypto-Assets) is significant. Europe wants to demonstrate that it is possible to innovate in digital finance while upholding high standards of transparency and oversight. Each bank will be able to develop its own services around this stablecoin, including digital wallets or custody solutions.

Floris Lugt, Head of Digital Assets at ING and spokesperson for the project, sums up the ambition:

Digital payments are essential for building a new Euro financial infrastructure. The programmability of the blockchain allows for instant and transparent settlements. This is an evolution that must be supported by the entire banking sector, with common standards.

Competition already underway

This project will not be alone in the field. Last week, the Societe Generale’s Forge subsidiary announced the listing of its dollar stablecoin, USDCV, on Bullish Europe. The initiative of the nine banks adds a geopolitical dimension: a battle of Euro and dollar stablecoins, but this time under European banking auspices.

For the crypto markets and institutions alike, the arrival of a MiCA-compliant Euro stablecoin represents a turning point. If the promise is kept, Europe could finally work to catch up and establish a strong alternative to the American giants in the sector.

The article Unveiling the Euro Stablecoin Initiative: Banking Consortium Makes a Move appeared first on Coin Academy.

These collapses highlight the limits of asset-backed debt (ABS), a system that has enticed investors and banks but whose opacity masks the financial reality of companies.

Major banks like JPMorgan, Fifth Third, and Jefferies are heavily exposed, while regulating shadow banking becomes a major challenge to avoid a new systemic crisis.

Deux faillites qui changent la donne

In early September, Tricolor Holdings, a lender specializing in subprime auto loans, collapsed after missing an interest payment. Shortly after, First Brands Group, a heavily indebted auto parts supplier, began bankruptcy discussions. These two companies, which were once considered solid by the markets, collapsed in a matter of weeks.

These rapid falls shed light on a worrying reality: lending standards have significantly loosened in the United States. Tricolor had received an AAA rating for its bond issuances, while First Brands was flirting with almost $10 billion in debt.

L’ombre du marché des dettes adossées à des actifs

The common thread between the two companies? The massive use of asset-backed debt. Tricolor turned its subprime auto loans into bonds, attracting yield-hungry investors. First Brands, on the other hand, used invoice factoring and other off-balance-sheet financing to artificially boost its liquidity.

This mechanism, meant to secure lenders by relying on tangible assets, has shown its limitations. Some investors now claim they had no real visibility on the financial situation of these companies. One of them, who exited Tricolor in time, even calls it “one of the worst collapses ever seen” in the ABS market (asset-backed securities).

Les grandes banques aussi dans la tourmente

The scandal has now reached Wall Street. JPMorgan Chase and Fifth Third Bank are among the institutions exposed to hundreds of millions of dollars in losses through Tricolor’s auto loans. Many are puzzled: how could one of the world’s most sophisticated banks validate debt issues without detecting financial irregularities?

At First Brands, the shock is equally brutal. Jefferies was still marketing a $6 billion loan in August, assuring investors that the group had a billion in cash reserves. A few weeks later, the company is negotiating emergency financing to avoid bankruptcy, while its junior debt is trading at only a few cents on the dollar.

Le risque systémique refait surface

Since the 2008 financial crisis, some credit has moved from bank balance sheets to unregulated players. This “shadow banking industry” has become essential to fund households and businesses. But its opacity is concerning. Monetary authorities in Europe and the US are closely monitoring the situation.

According to Tomasz Piskorski, a professor at Columbia, the Tricolor earthquake could have an immediate impact:

Rating agencies will tighten their control, reducing credit availability.

A sign that could weigh on the real economy, already weakened by rising defaults.

Un marché encore sous tension

Despite the panic, Wall Street is not turning off the tap. Goldman Sachs is preparing a new $300 million securitization this week, based on subprime credit cards. According to Dylan Ross, head of asset-backed finance at TCW, investors’ appetite remains intact:

Very few investment-grade structured products have actually been affected since the financial crisis.

One key question remains: how long can the markets continue to ignore warning signals? Because behind Tricolor and First Brands, a significant portion of American credit is trembling, threatening to turn two isolated bankruptcies into a true crisis of confidence.

The article Shaky Financial Shakeup: Bankruptcies and Market Turmoil appeared first on Coin Academy.