Author: 行政

Visa’s September 18 data refresh lowered its adjusted stablecoin volume measure, while its adjusted transaction count fell by less than 2%. The divergence reflects a change in how recorded activity is classified, leaving payment trends unanswered.The Visa Onchain Analytics changelog attributes the reset to a fuller set of address labels and revised filters. Its underlying Allium identity set grew from about 15 million labeled addresses to roughly 600 million. Visa says the definition of adjusted volume stayed the same: it aims to exclude labeled exchanges, contracts, bots, bridges, other infrastructure, and minting and burning. With more addresses identified, more transfers…

When a payment app tells you a transfer is complete, you start making decisions. You hand over whatever you’ve sold, spend the money you’ve received, or close the app and get on with your day. That little confirmation you get is enough for you to stop thinking about whether the transaction worked.Crypto companies want to offer that reassurance almost instantly, even when the blockchain underneath still needs time to finish settling the payment. One way to do it is to have an operator promise the result early and put money behind that promise.Puffer, a company building transaction infrastructure for Ethereum,…

Sydney Sweeney is helping sell sports predictions, which is a pretty good indication that prediction markets have moved beyond the people who enjoy arguing about probability on the internet.Novig’s Sept. 9 campaign announcement introduced the actress as a partner and equity holder in its sports-focused exchange. The campaign, called “Just Sports,” runs across digital, social, video, and outdoor advertising through football season. It’s designed to get people to notice an app, recognize the brand, and give it a try, which is exactly what hiring someone as famous and popular as Sweeney is supposed to do.Without giving in to the controversy…

Buying a tokenized stock sounds as though it should be simple. You pick a company you know, buy a token representing its shares, and hold it in a digital wallet. The appeal is familiar stock investing with some of the convenience of crypto, potentially including trading beyond the hours of a traditional exchange.Then you encounter a rule saying trading might have to stop for three months, and the idea of always-available stocks needs a little more explanation.The pause is part of the SEC’s Sept. 17 framework for experimental Tokenized Securities Venues, or TSVs. Repeat breaches of a stock’s trading volume…

Crypto projects spent about $638 million with token buybacks through late August 2026, according to Allium Labs data.That is already a record, up from $545 million over the same stretch of 2025. Hyperliquid accounted for roughly $370 million and Pump.fun for about $200 million, together close to 90% of the total.On Sept. 25, staff at the Securities and Exchange Commission (SEC) addressed the legal tension that has shadowed those programs since they began. The more openly a project ties its token to business returns, the easier it becomes to argue that holders are investing in a security.What SEC staff saidThe…

A hypothetical payment stablecoin issuer within the Federal Reserve’s proposed supervisory scope, with $1 billion in circulation and no revenue from activities outside its reserve assets, would start with a $20 million baseline operational-risk capital charge under the Fed’s proposal announced Sept. 24. A separate loss-history adjustment and any other applicable capital charges would still have to be applied. The issuer would also need reserves backing its coins.The proposal gives the growth of a stablecoin a direct capital consequence: more coins outstanding mean a larger baseline operating-risk charge, even if the issuer earns nothing from custody or other activities. The…

In 2021, Christie’s sold a Beeple NFT for $69.35 million, and Sotheby’s took another $24.40 million for 101 Bored Ape Yacht Club NFTs, giving cartoon primates the kind of auction-house treatment usually reserved for Fabergé eggs.But now, not five years later, one of the marketplaces that helped sell the digital art revolution is explaining how customers could take their belongings with them when it closed.Nifty Gateway, the NFT marketplace owned by crypto exchange Gemini, announced its closure in January as its parent decided to concentrate on its primary financial app. The exit arrangements included plans for a bulk withdrawal tool…

The Federal Reserve’s proposed rules for the payment stablecoin issuers it supervises include a crisis clock measured in hours. An issuer whose reserves fall below the value of its outstanding tokens would have 24 hours to notify the Fed and submit a plan to restore full backing.Unless it closes the gap or the Fed directs it to proceed with that plan, the issuer must begin liquidating reserves and redeeming tokens by 5 p.m. on the next business day. The Fed says that window comes to less than 48 hours in many cases.The 392-page proposal also lets the issuer keep minting…

Not that long ago, Washington fined Tether for misleading people about the dollars behind its tokens. Today, the company’s insatiable appetite for American debt is the main argument for sending those tokens further around the world.The distance between those two positions tells us a great deal about where crypto ended up. Tether built a business giving people access to dollars through markets and wallets outside conventional banking. It became the largest stablecoin issuer, then put much of the money backing that business into US government debt. The company, which operated beyond much of America’s financial establishment, has now become one…

MAXYZ, a group of former Balancer contributors, is asking for up to 6 million currently non-circulating BAL to seed a successor protocol. If the granted tokens reach other eligible holders before Balancer’s proposed wind-down redemption snapshot, the same treasury would be divided among more BAL. In exchange, MAXYZ proposes a contingent allocation from a future fork to the Balancer treasury, an asset with no realized value today.The fork proposal, posted Sept. 20 and expanded in a Sept. 23 FAQ, sits beside a separate wind-down plan to let BAL holders burn their tokens for a pro rata share of the DAO’s…