Crouton Digital | Official

#Bitget #Security #XRP #ETH 💻

Bitget lost $351.6M - and the private keys weren't compromised

September 24, 18:31 UTC: unauthorized transfers out of Bitget. Private keys intact. Attackers hit the critical backend of the wallet infrastructure and routed malicious transactions through it. $351.6M gone.

Per Lookonchain, the breakdown by stolen asset:
⏺️ 102.93M XRP - ~$157.5M (the single largest position)
⏺️ 31,890 ETH - ~$86M
⏺️ USDT, USDC, BNB, AVAX - the remainder

Cold wallets and the decentralized Bitget Wallet were untouched. Withdrawals are suspended; trading and deposits continue. The User Protection Fund stands at $464M - it covers the declared loss.

🟢 Mandiant and SlowMist are running the investigation. Bitget CEO Gracie Chen went live on X with preliminary findings:

"We found IP addresses matching the VPN choice of a certain North Korean group; the pattern is very similar to what the North Korean team has done before."

On-chain researcher Specter linked the stolen XRP to the "AFX EXPLOITER" cluster, which has previously been attributed to TraderTraitor. The connection to Lazarus remains unconfirmed. The FBI formally attributed the $1.5B Bybit hack to North Korean actors in early 2025. Bybit CEO Ben Zhou has already updated LazarusBounty, his cross-chain tracking service built to surface and freeze stolen assets. North Korean involvement remains a working hypothesis - not an official verdict.

🟢 The structural irony: XRP accounts for nearly half the haul - and it cannot be frozen. Ripple has no kill-switch for individual addresses in the XRP Ledger. USDT and USDC issuers have already started locking attack-linked addresses. The largest single piece of the theft stays liquid.

Neither Bybit in February 2025 ($1.5B) nor Bitget today broke cryptography. Both attacks targeted the operational layer around custody - there, a signing-interface compromise; here, a backend authorization breach. Different exchange, same playbook. $464M in the protection fund covers the loss on paper, but the structural question remains: why were $351.6M within reach of one compromised backend system?

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#DeFi #Funding #Jumper #LIFI 😪

Jumper splits from LI.FI and opens its first $JUMP sale via Legion

Jumper breaks off from LI.FI. $40B+ lifetime volume, over 15% market share, and its first standalone fundraise. Public $JUMP sale opens September 29 on Legion. Parent LI.FI has raised $51.7M from investors including Multicoin, CoinFund, and Dragonfly. Jumper is going it alone for the first time.

🟢 Sale terms:
⏺️ Date: September 29, 2026
⏺️ Price: $0.075 / $JUMP, FDV $75M
⏺️ Public allocation: 4% of supply
⏺️ Hardcap: $3M (softcap $2M)
⏺️ Unlock: 50% at TGE, 50% linear over 4 months
⏺️ TGE Q4: under 5% of supply in circulation

A 33.33% airdrop (screenshot).

🟢 $40B+ in cumulative volume and 100K+ MAU are Jumper's own figures. The team calls itself the top bridge aggregator by volume - DefiLlama's last 30 days put it at fourth. The market share number checks out though: roughly 15.7% of aggregator volume.

Jumper Perps are coming within weeks.

$JUMP utility has not been officially disclosed. Jumper CEO Marko Jurina says the token will be the sole ownership asset and that company value will align with holders. The actual mechanism - fees, buybacks, distributions - is not published.

🟢 At $75M FDV, Jumper sits below $RUNE (~$215M on CoinGecko) and well above $AXL (~$51M on September 23). Axelar gives useful context: over the last 30 days, the protocol collected roughly $6.6K in fees, zero in protocol revenue.

The Jumper WL is live now - linked to Legion Score, and it looks like queue position depends on it.

$40B moved through Jumper, but none of it through a token that doesn't exist yet. Buying a $75M FDV before the protocol spells out how it shares value with holders is a blind bet. The real trigger here is the full tokenomics - not TGE.

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#Cosmos #Security #Validators #IBC 💻

The Cosmos EVM attack: why halting the chain became part of the defense

We at Crouton Digital run validator infrastructure across the Cosmos ecosystem, so this incident deserves a closer look. What matters here is not only how the vulnerability worked, but how the networks responded once the attack began.

Between August 20 and 25, attackers hit six Cosmos-based chains through a flaw in the shared Cosmos EVM module. Around $5.7M in assets were sold off through DEXs and CEXs. No private keys were compromised.

🟢 The bug let an attacker inflate an EVM balance through a vesting account, then use it to zero out another account and walk away with that account's real tokens. It all happened inside a single supply-neutral transaction, so the chain's total supply never moved.

🟢 The fix landed on the main branch back on May 15 and shipped in v0.6.2 and v0.7.2 on August 19. But on the morning of August 20, a Push Chain developer publicly posted a detailed write-up of the vulnerability and how to exploit it.

About twelve hours later, the first attack hit MANTRA.

The catch: this was not a routine rolling upgrade. The change touched how balances are calculated, so the whole network had to move to the new version in a coordinated way.

MANTRA has 38 independent validators. In 20 hours, an upgrade like that had to be prepared, tested and rolled out in sync.

🟢 In the middle of the crisis, chains started halting block production.

⏺️ MANTRA stopped 14 minutes after the second attack
⏺️ KiiChain stopped after 18 repetitions of the exploit, and more than half (~54%) of the drained KII stayed on the chain
⏺️ TAC halted about 4 hours after being hit, having already received the upgrade notice

In total, Cosmos Labs coordinated with roughly 40 chains. Another 13 potentially exposed networks closed the gap with no further incidents, and one more halted before any funds left.

After the second confirmed incident, Cosmos Labs was already telling chains to halt immediately rather than attempt a coordinated upgrade on the fly. Going forward, the team has committed to formalizing when a halt, the kill switch, should take priority over an upgrade.

For a validator the takeaway is practical: security is not just having the patch. What matters is how fast the team can apply it, and whether it is ready to stop the chain before the damage becomes irreversible.

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#Zcash #ZEC #NFT #privacy 👀

Zcash is pumping, but there are no NFTs on mainnet. Let's look at what people are actually paying for

Your feed is full of ZEC mints and whitelists? Some call it the new meta, others say it isn't NFTs at all. Meanwhile, the money being spent is real. Here's how it works.

🟢 Basics: Zcash has three address types
⏺️ zs1... Sapling, the older shielded format
⏺️ t1... transparent, works like Bitcoin. The balance and full transaction history are public forever
⏺️ u1... Unified Address, the modern format, which can include Orchard and other receivers

When a project asks specifically for a u1 or t1, that's not a formality. Hand over a t1 along with your Twitter and you've publicly tied the two together, permanently.

🟢 Why there are no NFTs on Zcash mainnet

On Zcash mainnet there is exactly one defined asset: ZEC itself. There is no mechanism for issuing arbitrary assets.

The path toward that is ZSA - Zcash Shielded Assets. ZIP 226 and 227 are written, ZSA has passed a security review by Least Authority, and a public ZSA testnet has been running since August. Note that it is a separate network of its own, not the regular Zcash testnet, and assets there carry no real value. The specs are still Draft. ZSA is not among the listed changes in the current NU7 plan for November 5. NU7 is not an NFT launch.

🟢 There are two models being used right now

⏺️ First: payment plus a record. You send ZEC with a memo, and the platform writes in its own index that the identifier is now yours. On-chain, all that exists is the payment.

⏺️ Second: an actual ZSA on testnet. The asset ID is cryptographically derived from the issuer key, and ownership is held in a shielded note. That's how ZecBit works.

The second is closer to what a native asset should be. Economically, both land in the same place: you don't hold a mainnet asset today.

🟢 What the grants committee said

ZecBit asked ZCG for $48k to build NFT infrastructure. Rejected. From the meeting minutes: one committee member pointed to 🚩 red flags, another reported cases of people who paid for testnet ZSAs and never got a refund.

‼️ In its own application, the project states that mainnet activation is outside its control.

As for verifiability: an outside observer cannot reconstruct the ownership graph from the shielded pool. Volumes, holder distribution and part of the trading activity have to be taken on the platform's word.

🟢 Where do Solana and Bitcoin come in?

$ZCAT is a token on Solana that pays holders in ZEC. It has nothing to do with NFTs on Zcash. BITFOOTS mints through Zcash, but delivers the inscription on Bitcoin via Ordinals. Calling something a Zcash NFT doesn't mean the asset is actually on Zcash.

The hype is real: new highs, and an ecosystem waking up for the first time in years. But the layer where that demand could actually live on-chain doesn't exist yet. A testnet asset becomes a mainnet asset only if a specific team makes it happen, and the protocol doesn't answer for them.

Against that backdrop, don't be surprised if projects show up to farm grants, extract cash, or sell the promise of a future migration without being able to guarantee the outcome. There is still no committed date for ZSA on mainnet. Whether a given team actually delivers on moving its asset over is a separate question entirely.

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✨ #Weekly Summary ✨

🟢 Market spent a month on hype, the bill just landed

🟢 Fed raises to 4%, first hike in three years

🟢 Warsh says inflation stayed too high for too long

🟢 Trump demands rates at 1% right after the hike

🟢 Arc mainnet live, BlackRock and Visa validate

🟢 Circle lends USDC against BTC collateral

🟢 Deutsche Bank opens crypto custody for institutions

🟢 Robinhood adds redemptions and votes to its tokens

🟢 Coinbase opens the Oura IPO to its users

🟢 S&P Global agrees to acquire OpenZeppelin

🟢 Strategy adds 950 BTC, stack now 846,000

🟢 Strive adds 1,355 BTC, stack now 26,355

🟢 BitMine adds 27,562 ETH, stack now 5.98M

🟢 ByteDance borrows $29.6B from 28 banks for AI

🟢 Hyperliquid opens lending on HyperCore, ATH at $91

🟢 NEAR ships private perps built on Hyperliquid

🟢 Aave proposes loans against custodied BTC

🟢 World launches World Money with Stripe inside

🟢 Avalanche powers the UAE national digital wallet

🟢 Ethereum and Base part ways on the wallet standard

🟢 dtcpay raises $25M Series A from SBI Group

🟢 Anthropic may list in November at up to $2T

🟢 Anthropic opens a biology lab for AI drug research

🟢 OpenAI weighs a round at a $1.2T valuation

🟢 Trump calls AI fears overblown and driven by rivals

🟢 Apple plans AI servers on M8 Ultra chips

🟢 Apple and Google hunt for stablecoin specialists

🟢 China freezes robot IPOs after the Unitree crash

🟢 SEC clears limited onchain stock trading

🟢 CFTC files its own crypto rules without Congress

🟢 House panel advances the BTC reserve bill

🟢 House panel approves a federal crypto tax plan

🟢 DOJ charges two Robinhood engineers with fraud

🟢 DOJ says Iran oil money moved through Binance

🟢 Polymarket 26 users charged in South Korea

🟢 Zcash hits $1,400 after Paradigm reveals a stake

🟢 Zcash votes to cut block time to 25 seconds

🟢 Glassnode privacy is the only sector above its high

🟢 Solana transactions get three times bigger

🟢 Base DeFi TVL hits an all-time high of $5.7B

🟢 Hyperliquid monthly active addresses reach 291.9K

🟢 Standard Chartered puts a $10 target on ARB by 2030

🟢 a16z over $35B in real assets now sit onchain

🟢 Hayes buys $5.5M of ENA, targets $0.50

🟢 Fetch.ai one hacker drains three AI projects

🟢 ZetaChain kills its L1, ZETA moves to Solana

🟢 Balancer proposes winding down and paying out

• Market Stats (Sep) +26B 🔼
• Total crypto market cap: ~$2.89T
• BTC: ~$86K | Dominance: ~60%
• Sentiment: Greed 71

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#Bitcoin #CLARITY #Fed #Arc #Macro 🧾

The market spent a month buying expectations. This week the bill arrived

On August 22, when bitcoin was ripping 25%, we wrote that the move was riding on announcements rather than money, and we named what would test it: the Clarity Act vote and which way rates would go. Both closed inside three days.

🟢 On September 15 the Senate failed the procedural vote: 49 for, 50 against, with 60 needed. The bill didn't even clear a simple majority. Every Democrat voted no, along with four Republicans - Collins, Hawley, Moran and Tillis.

What killed it matters. The structure itself, splitting oversight between the SEC and CFTC, drew almost no objections: Republicans took in over 120 Democratic amendments and called the text their last and final. What sank it was the ethics provision, the one covering Trump's and his family's crypto holdings. Lummis, the bill's chief champion, summed it up in two words: it's over.

The industry spent years and hundreds of millions on this framework, and the president's conflict of interest took it down.

🟢 On September 16 came a 25 basis point hike to 3.75-4%, unanimous, 12 votes out of 12. First increase since July 2023. The driver is inflation, pushed along by oil above $110 after the strike on the Saudi pipeline.

The dot plot is harsher than the decision itself: 16 of 18 committee members expect another hike before year-end, and the 2027 median implies no cuts at all. Bitcoin barely flinched on the news, holding near $75.7k. But money is getting more expensive, and that is exactly the air risk assets struggle to breathe.

🟢 On September 16 Circle launched the Arc mainnet: BlackRock and Visa among the validators, 10 billion ARC minted, over $370M in USDC moved in during the first two hours. Sounds loud, but that's roughly 0.05% of all USDC, liquidity is thin, spreads are wide, and half the apps are still raw.

☠️ The Robinhood Chain style meme season did not show up on day one. What did show up, the day before launch, hit the people getting ready for it: a trader says he lost around $600,000 while looking for a way to bridge into Arc. A fake Cloudflare check, a script run with admin rights on Windows, and from there the whole machine gets cleaned out. The malicious links were hidden inside meme coin metadata, which is where aggregators pull them from - meaning the trap sat on the exact step where a trader goes to vet a token. The same playbook we covered separately.

Clarity failed, and rates went up instead of down. The expectation didn't hold on either count. While Congress stalls, the regulators are writing the rules themselves: the SEC already has Regulation Crypto Assets on the table, comments run until October 20, and its chairman said plainly that the agency will deliver with or without legislation. The framework is coming anyway - just not from the people everyone was waiting on, and without a public vote.

➡️Crouton.digital | About us⬅️

✨ #Weekly Summary ✨

🟢 Kalshi caught its own insider, 39 wins out of 43

🟢 Robinhood stock token is an IOU, broker keeps the vote

🟢 PPI August producer prices run hotter than forecast

🟢 Treasury lifts a single buyback to $6B

🟢 Trump promises $5,000 to adults if the GOP wins

🟢 Circle buys payments firm Tazapay for $400M

🟢 Block files for a federal bank charter

🟢 Nasdaq puts $100M into Kraken parent at $21B

🟢 Consensys spins MetaMask out as its own company

🟢 Robinhood strikes a prediction markets deal

🟢 Strive adds 1,375 BTC, stack now 24,531

🟢 BitMine adds 28,086 ETH, stack now 5.93M

🟢 Strategy skips BTC, doubles its buyback to $2B

🟢 Tron gets the first staked ETF in the US

🟢 Ethereum aims for a quantum-safe L1 by 2029

🟢 Ethena brings USDe and sUSDe to TRON

🟢 Sky starts burning SKY, 5% of surplus monthly

🟢 Pump.fun pays holders, drops the cashback mode

🟢 Pump.fun Custom Pairs let memecoins pair to stocks

🟢 Scroll pivots from L2 to AI agent infrastructure

🟢 Linera sale cancelled, raised only 57% of target

🟢 Amodei calls to slow the AI race, Altman agrees

🟢 Altman rules out an OpenAI IPO in 2026

🟢 Nvidia eyes up to $10B in the Anthropic IPO

🟢 Anthropic says Moonshot routed users into Claude

🟢 FBI accuses six Chinese firms of copying models

🟢 Hinton backs a UK bill to curb superintelligence

🟢 Brin takes hands-on control of Gemini

🟢 JPMorgan cuts lending to an AI fund after big losses

🟢 CLARITY Act final text out, Trump takes the ethics deal

🟢 SEC may make the chain the official share registry

🟢 Germany plans a 25% crypto tax from 2027

🟢 SBF appeals to the Supreme Court for a retrial

🟢 Solana record 263K new tokens minted in a day

🟢 ARK says bots drive most Robinhood Chain use

🟢 FOMO leaves 95% of traders flat or down

🟢 Binance holds 47.7% of derivatives volume

🟢 Kaiko says USDT and USDC still hold 94%

🟢 ETH ETF took in $1.75B in August, best since 2025

🟢 Quantum attack on BTC just got twice as cheap

🟢 Hyper Foundation holds 48.8% of all staked HYPE

🟢 Blockstream refuses to pay the Liquid hackers

🟢 Chainflip loses $736K to a memo exploit on Tron

🟢 Bitwise closes its Dogecoin ETF within a year

🟢 Coinbase renames Base App back to Coinbase Wallet

🟢 Hunter Biden memecoin drops 95% on day one

• Market Stats (Sep) -4B 🔽
• Total crypto market cap: ~$2.63T
• BTC: ~$77K | Dominance: ~60%
• Sentiment: Greed 70

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#Robinhood #RWA #Tokenization #SEC #AMC 🏹

The stock token turned out to be an IOU, and the vote stayed with the broker

On September 3 AMC CEO Adam Aron unloaded six adjectives on X at Robinhood's tokens tied to his company's shares: contemptible, outrageous, disgusting, detestable, inexcusable, vile. He demanded the trading stop and threatened the SEC.

Tenev's first reply was three words: "What's the concern?" Then on September 9 he went on CNBC and laid out the structure, which mostly ended the argument.

🟢 By Robinhood's own disclosure, Stock Tokens are tokenized debt securities issued by Robinhood Assets (Jersey) Limited. They give economic exposure to the underlying security and grant no legal or beneficial rights in it, or against its issuer. They are not registered in the US and are not sold to US persons. Coverage runs to AMC plus 190+ companies that never signed up.

The collateral shares sit with a US custodian, Alpaca Securities LLC. The shares are physically in the States, the obligation to you is in Jersey, and your claim runs against the offshore entity, not AMC.

🟢 The votes attached to those collateral shares do not vanish, and they are not yours. Asked point blank whether the company intends to vote them, Tenev said the plans have not been announced. His position in short: an issuer controls the rights on the stock it issues, "but that doesn't mean they control everything about it."

For contrast, Kraken's tokenized equities do carry voting rights. The model where the holder stays a shareholder exists, Robinhood simply picked a different one.

🟢 Tellingly, the pushback came from competitors, not from crypto skeptics:

⏺️ Graham Rodford, Archax - "A tokenized stock should mean the stock, tokenized"
⏺️ Carlos Domingo, Securitize - one AMC token pair changed hands at roughly 60x the reference share price on thin liquidity. His verdict: tokenization was meant to improve markets, not make them worse
⏺️ Armani Ferrante, Backpack - Aron's complaint has "real substance": buying the token does not necessarily create demand for the share, so the issuer gets nothing out of any of this

🟢 ARK Invest research director Lorenzo Valente pulled the chain apart by contract. The 0x Settler route, the standard path for Robinhood Wallet swaps, accounted for 0.5% of transactions. Fold in every unidentified contract and the ceiling lands near 5%, with GMGN and OKX the largest identified outside sources. We read it this way: the chain pulled in traders who were already on-chain.

The legal wrapper looks like a trick, but there was no alternative: the official record of securities ownership lives off-chain, so the token could never have been anything but an IOU.

On September 1 the SEC proposed changing that - release 34-106246 would let the master securityholder file run on a distributed ledger, up to the blockchain being that file outright. Comments close November 3. And on the row itself AMC shares jumped 21% to $3.07, powered by exactly the meme mechanic Aron was arguing against.

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#Kalshi #Polymarket #CFTC #Hyperliquid

39 winning contracts out of 43. Kalshi's insider was caught by Kalshi

On August 28 the CFTC fined White House teleprompter operator Gabriel Perez $172,539.02 for trading contracts on the words in Trump's speeches. Of 43 trades, 39 won.

The regulator did not open the case: Kalshi's own surveillance flagged the anomaly and handed it over. The order dropped on a Friday at 8:14 p.m. ET.

🟢 Perez had worked for Trump since 2016 and saw speech drafts before they were delivered. Between December 2025 and February 2026 he traded mention contracts - bets on whether the president says a specific word - around the State of the Union, Davos, the National Prayer Breakfast and rallies in Pennsylvania, North Carolina, Iowa and Georgia.

Profit $107,539.02, plus a $65,000 penalty discounted for "exemplary cooperation" and a three-year trading ban; he did not admit the findings, and Manhattan prosecutors passed on a criminal case.

The conclusion is obvious.: on a market that sells a price, the tell is not position size but hit rate, and only the venue with the whole book in front of it can see that.

⏺️ February - a MrBeast-linked editor: $20,397.58 for trading on unreleased videos
⏺️ May - Google engineer Michele Spagnuolo: more than $1.2M on Polymarket off internal Year in Search data, charged by the Southern District of New York
⏺️ July 31 - George Santos: the CFTC clawed back $17,569.98 in profit plus a $17,500 penalty and a three-year ban across its registered venues
⏺️ August 31 - Kalshi's first-ever lifetime ban, same Santos, plus a $71,356 fine, exactly four times his $17,839.57 in winnings

The same notice sanctioned candidates who bet on their own races, and the gradient there is the point. Laurie Buckhout, a Republican in North Carolina, bought under $1,000 of contracts on her own campaign, cooperated with the inquiry and drew three years plus $2,589.96: "I bet on myself. Literally. It was a dumb mistake." Santos refused to cooperate - and got a lifetime ban.

🟢 So who is really watching the price?
Both CFTC orders grew out of Kalshi referrals. The regulator has the tools: it treats these contracts as swaps and applies Section 6(c)(1) of the Commodity Exchange Act and Regulation 180.1. It is busy elsewhere - more than twenty states are suing the venues over sports contracts, New York wants Kalshi stopped, and the same evening the Perez order landed, Kalshi lost at the Ninth Circuit.

Robert DeNault, Kalshi's head of enforcement, put the job plainly: compliance exists to "catch bad actors, punish them, and deter other people from doing it again."

On July 20 Hyperliquid announced the permissionless phase of HIP-4: anyone can list an event market by staking 500,000 HYPE, roughly $30M at that day's price. The stake locks for six months, and validators can slash it by vote for a badly defined market, a wrong settlement, or a resolution left hanging more than a week.

So the bond answers for how the market was built, while nobody there answers for what the trader knew walking in. The lesson travels past Kalshi: a prediction market is worth exactly what its surveillance is worth.

➡️Crouton.digital | About us⬅️

✨ #Weekly Summary ✨

🟢 Robinhood Chain tops fee charts, but ARB is what pumped

🟢 Metropolis Monad hackathon open, $5K RPC credits

🟢 Banks Circle's distributors now mint their own coin

🟢 Fed odds of a September rate hike hit 66%

🟢 Hayes bets a French bank crisis forces money printing

🟢 G20 finance chiefs promise clear digital asset rules

🟢 Banks 21 firms team up on a dollar stablecoin

🟢 Standard Chartered opens spot BTC and ETH desks in the UAE

🟢 Coinbase files to bring stock perps to the US

🟢 Kraken parent pushes its IPO back to mid-2027

🟢 Polymarket takes $300M more at a $21B valuation

🟢 LSE preps a launch of tokenized shares

🟢 South Korea targets February 2027 for tokenized markets

🟢 Hanwha builds a tokenized securities arm on Avalanche

🟢 Remixpoint dumps every altcoin, goes BTC only

🟢 Capital B buys 376 BTC, its biggest hit this year

🟢 Hyperliquid Strategies lifts its equity facility to $2.5B

🟢 X Money payments go live for US Premium users

🟢 Ethereum will let you pay gas without holding ETH

🟢 Ethena ships Ethena Pay neobank on Avalanche

🟢 Polymarket adds futures with leverage up to 20x

🟢 Uniswap Labs buys PONS tokens, PONS +13%

🟢 Aster locks team tokens for another full year

🟢 SEC sets a roundtable on 24/7 stock trading

🟢 OpenAI ships GPT-6 Astra, built for computer use

🟢 Anthropic releases Claude Fable 5.1 and Mythos 5.1

🟢 Google ships Gemini 3.8 Flash and a cyber model

🟢 Sanders files a bill to ban superintelligence

🟢 Kalshi hands Santos its first lifetime ban

🟢 Binance signs three deals with Kazakhstan

🟢 Binance plans a CIS settlement hub in Kazakhstan

🟢 Robinhood Chain earns $3.75M a day, tops all networks

🟢 DefiLlama August was the best DEX month since March

🟢 FOMO 95% of its traders made nothing or lost

🟢 Injective halts 4 hours after a $4.88M exploit

🟢 Harmony shuts its chain, moves ONE to Ethereum

🟢 Router Protocol closes, burns 303M ROUTE

🟢 Hunter Biden drops a memecoin on Base on Sept 9

• Market Stats (Sep) +3B 🔼
• Total crypto market cap: ~$2.67T
• BTC: ~$79K | Dominance: ~60%
• Sentiment: Greed 73

➡️Crouton.digital | About us⬅️

#Stablecoins #USDC #Banks #GENIUS #Payments 🏦

Circle paid Coinbase $908M for distribution. Now the distributors are minting their own

On September 1, 21 institutions - Bank of America, Citi, Goldman Sachs, Deutsche Bank, UBS, Wells Fargo, Fidelity, MUFG and others - committed to a joint company for a dollar stablecoin: entity in H2 2026, token in market in H1 2027. The company name, the token name, the blockchain and the reserve custodian are all still open. Circle stock fell about 6% that day. This is at least the fifth alliance being assembled on the same field.

🟢 Why do these alliances hit Circle rather than Tether?
Circle lives on reserve interest: 99% of its 2024 revenue came from it, per the company's own filing. On June 30 the Open Standard consortium unveiled Open USD, a token backed by more than 140 companies including Visa, Mastercard, Stripe, BlackRock, BBVA and Coinbase.

Partners keep the reserve earnings minus a small fee to the issuer. The GENIUS Act bars paying interest to the holder, but not to distribution partners, and the whole model grew inside that gap.

🟢 Why is Coinbase backing a competitor's token?
Circle paid Coinbase $908M to distribute USDC in 2024 alone. The exchange joined Open USD two months before that revenue-sharing deal came up for renewal in August 2026. CRCL fell 17.55% to $62.63 on the announcement day, and on August 3 Morgan Stanley cut its target from $106 to $38.

🟢 How many of these alliances are already stacked up? At least five, and they only look separated by timeline on paper:
⏺️ Open USD - 140+ companies, launch promised this year
⏺️ USDG by Paxos - live since late 2024
⏺️ Qivalis - 37 European banks, euro token in H2 2026, EMI license pending at the Dutch central bank
⏺️ BankChain Alliance - 39 state banking associations, network slated for H1 2027, tech partner still unpicked
⏺️ The 21-firm group - dollar in H1 2027, euro next

BBVA sits in Open USD and in the new consortium at the same time. And the euro token the 21 parked behind the dollar is what Qivalis expects to ship before this year is out.

🟢 What does the only live example show?
USDG has run on exactly this model since late 2024: reserve income shared with partners including Robinhood, Kraken and Galaxy Digital. In eighteen months it gathered about $3B against roughly $73B for USDC. This was referred to by Clear Street analyst Owen Lau, calling the June sell-off a re-reaction. Yield sharing collects partners on paper, distribution brings the volume, and so far one does not convert into the other.

The launch date is the least useful detail here. The blockchain and the reserve custodian decide who ends up running the rails. And watch the number that moves without press releases - USDC's offer of $77 billion at the end of March to roughly $73B by August, with share around 25.3% at the end of August. It was leaking long before any bank consortium shipped a token.

➡️Crouton.digital | About us⬅️

#Monad #Metropolis #Hackathon #RPC 😂

$5,000 in dedicated RPC credits. Any track works

Monad launched Metropolis, a global online hackathon running September 1 to October 13, with a prize pool above $250,000. Intake is open at hackathon.monad.xyz. Crouton Digital is the sponsor.

🟢 Four tracks
⏺️ Onchain Finance & Trading
⏺️ Consumer Products & Payments
⏺️ Social, Attention & Culture
⏺️ Trust, Identity & AI Infrastructure

🟢 Our bounty sits outside the tracks
$5,000 in credits toward a dedicated Monad RPC endpoint, sized to what your project actually needs. At our rates that covers roughly three months of runtime.

The bounty is track-agnostic on purpose. Sponsors usually pin a bounty to one track, and builders end up bending the idea to fit the sponsor. RPC matters equally across all four, so there is nothing to bend - build what you meant to build.

🟢 The public RPC is live right now, hackathon or not
If you are building on Monad Mainnet, the endpoint is open. No token, no signup
⏺️ monad-mainnet-rpc.crouton.digital
⏺️ Limits: 20 RPS / 1,200 RPM. Chain ID 143.
⏺️ Enough for development and testing.

Hit the ceiling or need WSS - DM @Antons_CroutonDigital. We will size a dedicated endpoint to your load. This stands whether you are in Metropolis or just building on Monad.

➡️Crouton.digital | About us⬅️

#Robinhood #Arbitrum #L2 #RWA #DeFi 💵

Robinhood built the top fee-earning chain. The token that pumped was ARB

On September 1 Robinhood Chain pulled $2.13M in fees over 24 hours, out-earning every other network on that metric, including Arbitrum One, whose stack it runs on. By the September 2 snapshot fees had reached $3.75M. That same day ARB gained more than 25% and broke the $0.07-0.10 range it had held since June. Not HOOD. Here is why.

🟢 The condition sits in the Arbitrum license: any chain on their stack that settles outside Arbitrum One and Nova owes 10% of protocol revenue - 8% to the DAO treasury, 2% to the Developer Guild. ARK Invest analyst Lorenzo Valente broke down how that differs from what Ethereum charges.

The chain's gross revenue went from $54,676 on August 22 to $1,087,896 on August 30, and Arbitrum's share scaled from $5,400 to $108,000 over the same stretch. Meanwhile the settlement cost paid to Ethereum did not rise, it fell, from $247.79 to $155.30. Ethereum charges a fixed price for posting data, Arbitrum takes a real cut of revenue. So on a record day Arbitrum scales with the chain while Ethereum barely moves.

🟢 Tokenized equities, the entire reason this chain exists, are nowhere near the revenue leaderboard. The top earners over 24 hours were speculation venues:
⏺️ GMGN, a trading bot - about $1.11M (August 31 snapshot)
⏺️ Pons, a launchpad - about $1M
⏺️ Uniswap - $367K in revenue on $9.12M in fees (September 2 snapshot)

Morpho holds $483.89M in TVL on this chain against $0 in revenue for the day. The value is there, the cash flow is not.

On July 2 Robinhood CEO Vlad Tenev told CNBC: "What's the benefit of making a million different memecoins?" Six days later he posted on X that the chain works great for memes too.

🟢 So where does the fee a user pays actually end up?

This is the interesting part. Not one of the flows stays in the chain. Pons routes roughly 80% of its protocol fees into an automated buyback and burn of its own token. Uniswap switched fees on for this chain in late July, and they feed the UNI burn. Arbitrum's cut lands in the DAO treasury, and ARB holders get no direct distribution - a governance vote decides how that money is spent.

Now look at the gap between price and cash. ARB's market cap added roughly $170M in a day. Actual payments from Robinhood Chain into the Arbitrum treasury over the entire previous month came to $531,641. That is a gap of more than three hundred times. The order book is thin behind it: about a third of all depth within 2% of price sits on a single venue, BTCC.

A user pays a fee inside a broker's app, and the scarcity shows up in three token economies the broker does not control. We read it this way: Robinhood assembled the traffic and pays the gas, while the rent goes to the layer beneath the chain and the apps above it.

The test arrives around September 29, when the 90-day gas subsidy ends. It has been running since the July 1 launch, and in mid-August Robinhood cut the threshold from $5 to $0.50, which widened it. So every record we are looking at describes a market where transacting costs almost nothing. Once users start paying instead of the broker, we find out what was demand and what was free gas.

The lesson travels well past Robinhood. A brand with 23 million customers brings traffic in a week, and the economics go to whoever owns the layer below you and the app above you. Running your own chain does not by itself make you the owner of its money.

➡️Crouton.digital | About us⬅️

✨ #Weekly Summary ✨

🟢 Metropolis we sponsor the Monad hackathon, $150-250K

🟢 Mastercard report changed how we compare chains

🟢 Strategy is back, bought 4,603 BTC for $370M

🟢 Strive adds 1,800 BTC, stack now 23,156

🟢 BitMine adds 53,501 ETH, stack now 5.9M

🟢 Bernstein sees BTC at $150K by mid-2027

🟢 Schwab adds spot SOL, AVAX and LINK

🟢 ICE takes a stake in tZERO, NYSE goes onchain

🟢 BankChain banks from 39 states build their own network

🟢 Mirae Asset puts $109B into digital assets

🟢 Coinbase launches tokenized stocks on Base

🟢 LayerZero builds ATLAS with Citadel and DTCC

🟢 Hyperliquid turns USDC reserve yield into HYPE burns

🟢 Ethena buys out seed VCs, 95% of revenue to buybacks

🟢 Entropy raises $14M for a pre-IPO market

🟢 YZi Labs funds 24 startups at $500K each

🟢 a16z raises $1.1B for AI hardware

🟢 Ethereum devs start shielding staking from quantum

🟢 Solana narrowly votes to double disinflation

🟢 Pump.fun adds HyperEVM token trading

🟢 Nvidia revenue $96.2B, more than doubled y/y

🟢 Nvidia in talks to buy Hugging Face for $12.9B

🟢 Anthropic files its IPO prospectus in September

🟢 OpenAI and 100+ firms unite against rogue agents

🟢 Altman expects AGI by the end of 2026

🟢 Musk admits Grok trails Anthropic

🟢 Gates calls for a tax on AI and robots

🟢 Apple Macs go to AI labs by the tens of thousands

🟢 SpaceX builds a $100B second Starbase

🟢 Grayscale debuts the first US Zcash ETF

🟢 World Liberty lands Abu Dhabi money for its bank

🟢 CFTC fines a teleprompter operator $172K

🟢 Tornado Cash Storm retrial pushed to April 2027

🟢 Crypto funds took in $3.2B, most since Oct 2025

🟢 Zcash mining pays 4.5x more than Bitcoin

🟢 Robinhood Chain app TVL passes $1 billion

🟢 Hyperliquid does more than half of all RWA volume

🟢 a16z whale keeps stacking HYPE

🟢 Multicoin hackathon on Monad, $150-250K, we sponsor

🟢 TradFi perps now beat Binance BTC volume 2x

🟢 Moonwell loses $8.7M in DAI on Base

🟢 Ledger bug can swap the transaction you signed

🟢 CertiK counts 52 wrench attacks in H1, +33%

🟢 Durov launches Gram Wallet inside Telegram

• Market Stats (August) +1B 🔼
• Total crypto market cap: ~$2.64T
• BTC: ~$79K | Dominance: ~60%
• Sentiment: Extreme Greed 70

➡️Crouton.digital | About us⬅️

#Mastercard #Research #Infrastructure #RWA 👁

Chain comparisons broke. Mastercard showed what replaces them

The Mastercard and Sei report came out built on 40+ interviews with practitioners. The interesting part is not the conclusions, it is that the unit of measurement changed.

🟢 How this used to be researched
Take the chains, list their specs in a column, get a table with a winner. TPS, finality, fees, decentralization. Every comparative review of the last fifteen years works this way, our own included.

🟢 What breaks the habit
Mastercard assigned weights: six institutional use cases, five dimensions, a score at every intersection. And the same property carries different weight depending on the job.

Performance:
⏺️ Payments - 10
⏺️ Subscription billing - 10
⏺️ Fintech-grade operations - 7
⏺️ Cross-border settlement - 3
⏺️ Treasury - 2
⏺️ Tokenized RWAs - 2

What ranks first where speed sits at the bottom:
⏺️ Treasury - governance and operational maturity, 10
⏺️ Cross-border settlement - settlement reliability, 10
⏺️ Tokenized RWAs - ecosystem maturity, 10

A spread from 2 to 10 on a single parameter means something simple: a chain is no longer judged on its own. What gets judged is a pair, the chain against a specific job. "Which chain is best" has no answer, not because the question is hard but because half of it is missing.

🟢 The authors go through the existing evaluation frameworks - BCG, McKinsey, academic models - and name a shared gap: the dimension of who is buying and what they need is absent from almost the entire literature. So for fifteen years the industry compared tools without ever asking about the job. Hence the endless TPS arguments that nobody can win.

Full report in PDF

What follows from this: a chain comparison with no use case attached says almost nothing. The first question is no longer "how many TPS does it do" but "what work are we measuring it against".

Mastercard × Sei do not answer that question for specific chains either. What they offer is a frame for evaluation rather than a finished ranking. And that is probably the most valuable thing in the report: not a list of winners, but the attempt to make the market compare infrastructure through an actual workload.

➡️Crouton.digital | About us⬅️

#Monad #Hackathon #Metropolis #Crouton 😂

$150K-$250K and six weeks. We are a sponsor and infrastructure partner at Metropolis on Monad - if you are interested, hit our DMs.

Monad is launching Metropolis, a six-week hackathon running September 1 to October 13, with a $150K-$250K prize pool across four tracks. Crouton Digital is coming in as a sponsor and infrastructure partner.

🟢 Online and open from anywhere.

Four tracks:
⏺️Onchain finance and trading
⏺️Consumer products and payments
⏺️Social protocols and attention economies
⏺️Trust, identity and AI infrastructure

Running alongside it are one-day hacker houses in six cities: San Francisco, New York, London, Buenos Aires, Shenzhen, Singapore.

The strongest teams move into a residency after the finals: two intensive weeks, workshops on AI, security and go-to-market, and a demo day with funds.

🟢 The fourth track is verification, identity and infrastructure for agent transactions. A week ago we broke down a report from Anthropic on how swarms of AI agents slide into sabotage and collusion: an agent has no stake it is afraid to lose, no persistent identity and nowhere to complain.

A validator is exactly that machine. Stake behind a signature, slashing for bad behavior, reputation built block by block. Crouton Digital runs validators and RPC across 45+ PoS networks, so we look at this track from the operator side. We want to see who assembles that layer for agents and what it ends up running on.

Even without winning you do not walk away empty-handed: a working prototype on the EVM, six weeks of mentorship, and introductions to the Monad team and other builders in an ecosystem that ran 2,550 developers through its programs in 2026 and paid out $292,000 in prizes. Winners get taken further - residency, a demo day in front of funds, milestone-based grants.

⭐️ If you are a builder and this is your thing, message us at @Antons_CroutonDigital.

➡️Crouton.digital | About us⬅️

✨ #Weekly Summary ✨

🟢 Anthropic report on AI agents fighting reads like a spec

🟢 ALIGN the drop landed, here is what it is for

🟢 Bitcoin up 25% in three days, what is behind it

🟢 Ramps who controls the way in and out of BTC

🟢 Trump says the US may buy BTC in size

🟢 BlackRock keeps its 1-2% BTC allocation call

🟢 Citi launches BTC custody later this year

🟢 Metaplanet builds a US BTC treasury on Nasdaq

🟢 Jane Street holds over $1B in spot BTC ETFs

🟢 Strategy sold $2B in MSTR, bought no BTC

🟢 Strive buys 1,110 BTC for $81.5M

🟢 Tether Ardoino: we are no longer a crypto firm

🟢 Coinbase debuts tokenized stocks on Base

🟢 X may pay influencers in stablecoins

🟢 Shinhan Korean bank issues funds on Solana

🟢 Alibaba raises $10.2B in Hong Kong for AI

🟢 Coinbase adds 50x perps via Hyperliquid

🟢 Hyperliquid Trump says SEC works on US access

🟢 Hayes launches Flop Network for AI agents

🟢 Ripple raises $275M for prime brokerage

🟢 Ethena backs USDe with a $1B FalconX line

🟢 Compound opens a $52M institutional program

🟢 Wyoming moves its stablecoin to Chainlink

🟢 Nethermind quits LayerZero for Chainlink

🟢 Kinetiq announces Elysium L2 for Hyperliquid

🟢 NEAR banks test quantum-safe transfers

🟢 Groq raises $350M at half its old value 🔗

🟢 Optimism one vote moved $49M from airdrops

🟢 Kraken parent joins Project Glasswing

🟢 Bybit says AI saved it $700M this year

🟢 Binance ships Agent OS for AI agents

🟢 Unitree robot maker jumps 6x on debut

🟢 a16z DOJ probes a conflict of interest

🟢 CFTC bans ex-FTX execs for five years

🟢 Binance two staff detained in the UAE

🟢 FBI may have IDed the Coldcard hacker

🟢 Pakistan opens crypto licensing, Sept 5 deadline

🟢 Polymarket Korea joins 30+ blocking it

🟢 Strategy back in profit, over $1B unrealized

🟢 DEX share of spot volume at a record 24%

🟢 Solana Q2 network fees down 44% q/q

🟢 Aave holds 62.8% of DeFi USDT deposits

🟢 a16z crypto card volume hits $759M a month

🟢 MANTRA halts its whole network after an incident

🟢 BitMart picks restructuring over shutdown

🟢 Phantom drops Sui support on Sept 24

• Market Stats (August) +450B 🔼
• Total crypto market cap: ~$2.63T
• BTC: ~$79K | Dominance: ~60%
• Sentiment: Extreme Greed 80

➡️Crouton.digital | About us⬅️

#Bitcoin #Regulation #Gold #AI 🏛

Bitcoin was built as a free harbor. Who controls the on- and off-ramps now?

Bitcoin was built so that entry and exit depended on nobody. Eighteen years later it is worth checking who controls both.

🟢 Seized coins used to go to auction. Germany dumped almost 50k BTC in the summer of 2024 around $58k, then watched bitcoin run past $100k four months later. A March 2025 executive order ended that practice in the US: seized bitcoin is held as a reserve asset and cannot be sold.

The reserve now holds around 198-200k BTC, the finally forfeited part. On top of that, 127,271 BTC from the Prince Group case are still in process. Together that is roughly 325-330k across addresses linked to the government. Not one coin was bought on the market. Yet.

The state stopped being a liquidator and became a holder.

🟢 The rules came as a package. On August 18 the SEC proposed Regulation Crypto Assets, the first rule written specifically for crypto offerings in its ninety-year history. The same day the Treasury announced its bond buybacks. On the 19th Trump gathered two dozen industry leaders and regulators at the White House.

Once it is an asset, someone writes the access rules. On August 14 the OCC granted preliminary approval to World Liberty Trust, whose sponsor is 38% owned by an entity tied to the president's family. Circle, Ripple, Paxos, BitGo, Fidelity and Coinbase took the same charters earlier. Issuing a digital dollar is now a license you apply for.

Exit works the same way: from August 23 Binance stops processing operations with eleven platforms, HTX and EXMO among them. Entry gets granted, exit gets closed.
At that same meeting Trump mentioned the CFTC is working on a compliant path for Hyperliquid in the US. HYPE jumped 20% within the hour. The president said an exchange out loud, and the market repriced its token.

🟢 On August 10 the Bitcoin Policy Institute and 40+ organizations, including Coinbase, Block, Strategy, MARA, Galaxy, Kraken and Trezor, sent a letter to the AI labs. One ask: give open-source maintainers the same trusted access to strong models that corporate partners already have. Public filters block legitimate vulnerability research while attackers work with no such limits.
Whoever fixes the network now waits for permission.

🟢 The US holds 8,133 tonnes of gold, the largest reserve in the world. On the books it sits at $42.22 an ounce, a number from 1973, about $11B against a market value above a trillion. Bill S.954 proposes revaluing the gold certificates at market and spending the difference on bitcoin for the reserve. No bars need to move anywhere, one number in the ledger gets rewritten.

The switch just isn't in the hands of whoever drafted the mechanism. The executive branch cannot expand the reserve on its own: that takes budget authorization from Congress, and the Treasury has not changed its position against open-market purchases.

⏺️The haven is still standing, it just got privatized. This is not a verdict yet: the bill has not passed, revaluing gold feeds inflation, and Treasury and Commerce have spent eighteen months failing to split the reserve between them.

While the owners sort it out, the industry gets some breathing room. The trajectory is obvious though: the space where you can move without anyone's permission shrinks every quarter. Not through bans - through licenses, lists and procedures. You can still route around almost all of it, you just have to do it more often every year.

➡️Crouton.digital | About us⬅️

#Bitcoin #Macro #Treasury #Liquidity 🤑

Bitcoin is up 25% in three days, and plenty of people are asking what's actually behind it

From $64k on Wednesday to $79.5k+ by Saturday. The timeline calls it stealth QE (quantitative easing) and the start of a bull run. The fuel was specific, and most of it has burned off.

🟢 On August 18 the US Treasury said it would double its long-end buybacks: from $2B to at least $4B per operation, covering the 10-20 and 20-30 year sectors, running September 9 through November 4. The 30-year yield fell from 5.34%, its highest since 2007, to around 5.19% in a day.

What moved next was positioning, not crypto. The market had sat in a $62-67k range since July, with shorts piled up to a record on expectations of a trip to $50k. Breaking $66k and the 200-day set off a cascade: roughly $1.29B in shorts wiped in a single hour, then anywhere from $3B in 24 hours to about $4B across Thursday and Friday.

⏺️ August 18: the SEC proposed Regulation Crypto Assets
⏺️ August 18: the Treasury announced the bond buybacks
⏺️ August 19: Trump gathered two dozen people at the White House - Coinbase, Ripple, Robinhood, Kraken, Gemini, Nasdaq, NYSE, Chainlink Labs, plus SEC Chair Atkins and CFTC Chair Selig

The Treasury came first, the market had already traded the buyback before the summit, and Trump added a second leg on top of the move: he urged Congress to pass the Clarity Act and left the door open to the US buying bitcoin in size.

He also mentioned the CFTC is working on a compliant path for Hyperliquid - HYPE jumped 20% within the hour.

The meeting had been scheduled a week earlier. Not a coincidence and not a conspiracy, just a coordinated week: the regulator writes a rule, the Treasury takes pressure off yields, the president gathers the industry and spells out what he wants from Congress.

The market read that as "the government is on our side" and bought the expectation. Nothing has paid for it yet: the Clarity Act faces a procedural vote on September 15, and the votes aren't there.

🟢 QE is when the Fed creates new money and buys bonds with it. There is physically more money in the system, and some of it leaks into risk assets.

This is something else. The Treasury buys back its own older bonds, the ones maturing in 10-30 years, and funds that by issuing new ones with short maturities. It's refinancing: paying off the slow loan by taking a fast one. Same total debt, no new money in the system, only the timeline changed.

Liquidity did improve - not in the economy, but inside the bond market itself: older paper became easier to sell.

💭 CoinEx chief analyst Jeff Ko: mechanically this is not QE but a tool for managing liquidity and the composition of Treasury liabilities, and at this program size it reads as a soft policy put on the long end. Not a printing press.

🟢 The price is holding, but the reason it all started has already dissolved.

⏺️ The 30-year yield is back at 5.28%, yet bitcoin stayed up
⏺️ The buybacks haven't begun. They start September 9. The market traded the announcement, not the money
⏺️ Bets on a Fed hike are rising: 35% for September, around 66% by year-end
⏺️ Over 44k BTC moved to exchanges since the rally began

Spot ETFs took about $517M on Wednesday and kept adding for a second straight day. But they came for the signal, not the substance. The substance arrives September 9, and it's $4B per operation against a $30T Treasury market.

✨ None of that makes the move false. What we need to see is bitcoin holding above the 200-day and above $70k. Stepping in here thinking the government turned on the printer isn't smart.

Watch at least three things: whether daily ETF inflows hold above $300-500M, whether 30-year yields come back down by September 9, and whether the Clarity Act moves by mid-September. If none of the three lands, the shorts are gone and no new buyers took their place.

➡️Crouton.digital | About us⬅️

#ALIGN #Airdrop #ZK #Ethereum #Security 🪂

ALIGN dropped - and half of you don't even remember what it's for (let's recap)

The Aligned token went live on August 20 (yesterday).

The snapshot was back in December 2024, catching 986,843 addresses - holders of STRK, MINA, ZK, POL, SCR, TAIKO and EIGEN worth $50+ at each token's all-time low.

But for the allocation to become real, you had to separately register before December 23, 2024 and link an EVM address to receive it.

A little over 160,000 wallets out of nearly a million made it in.

Why can't you connect Starknet?

STRK sits on Braavos and ArgentX, but where's the claim for Starknet addresses? There's just nowhere to connect a Starknet wallet - all the linking was done a year and a half ago.

What to do, in short:
⏺️ Check yourself at community.alignedlayer.com
⏺️ Claim at airdrop.alignedlayer.com
⏺️Not an official checker without a connection: earndrop.io/aligned

‼️ Any site offering to connect Braavos or ArgentX for ALIGN is a drainer.

Listings went live August 20: KuCoin, Gate, Coinbase, Bitvavo, Bitstamp by Robinhood, Bitget, LBank, MEXC, BingX, Kraken, KCEX, Aerodrome

The 986,843-address snapshot:
⏺️ Wave 1 - 4,639
⏺️ Wave 2 - 1,769
⏺️ Wave 3 (Galxe quests) - 89,113
⏺️ Wave 4 - 47-month vesting
⏺️ Wave 5 (holders of STRK, MINA, ZK, POL, SCR, TAIKO, EIGEN) - 891,322, or 90% of the whole drop
Just over 160,000 wallets actually registered out of all of them.

Tokenomics
⏺️ 10B $ALIGN
⏺️ Team 23.50%
⏺️ Investors 19.71%
⏺️ Ecosystem 18.00%
⏺️ Future Provisions 16.61%
⏺️ Foundation 11.40%
⏺️ Airdrop 8.74%
⏺️ Community Sales 2.04%

Out of 10B ALIGN, only ~16% is on the market at launch.

Team + Investors = 43.21% of supply, fully locked, zero at TGE. First unlock comes in 12 months, 40% right away, then linear over 18 months.

The drop is 8.74% of supply (874M), but only 44.36% of that opened at TGE, around 388M.

✨ $ALIGN launched at an FDV in STRK's range, but with a float 4x thinner. Mcap ~$30-35M against a $192M FDV. There are few sellers at the start because nearly everything is locked.

The team and investors hold nothing right now - that changes in twelve months. Though the Foundation and Future Provisions buckets already have roughly 11% of supply unlocked

➡️Crouton.digital | About us⬅️