Latest news by Karthik Subramanian
JPMorgan, Citi plan tokenized deposits to rival stablecoins
The four largest US banks are no longer content to watch stablecoins eat their lunch. JPMorgan Chase, Citigroup, Bank of America and Wells Fargo — alongside more than a dozen peers — are building a…
Bitcoin DeFi eyes $500bn in idle BTC as ETF demand cools
Bitcoin DeFi (BTCfi) — the set of protocols that turn idle Bitcoin (BTC) into onchain collateral and yield — is making its institutional pitch just as the passive-holding trade stalls. With spot Bitcoin exchange-traded funds…
Hyperliquid flips Solana on FDV as revenue-chain race heats up
Hyperliquid (HYPE) has overtaken Solana (SOL) on fully diluted valuation — but the milestone says more about token-supply schedules than about which network is bigger, and the gap reverses entirely when you switch the lens…
Strategy sells its first bitcoin since 2022 to fund payouts
Strategy sold bitcoin for the first time since 2022 — and the size of the sale matters far less than what it signals about the bitcoin-treasury model under stress. The company disclosed in a June…
CFTC clears Coinbase to offer US clients offshore crypto perps
The Commodity Futures Trading Commission (CFTC) has cleared Coinbase to route United States clients into offshore crypto perpetual futures (perps), and the structure matters more than the headline: the approval does not build a domestic…
Aave rewrites listing standards after $230m rsETH bridge hack
Aave is rewriting how it admits collateral, launching a full review of every asset on its V3 markets after a $230 million rsETH exploit exposed cross-chain bridges as the lending protocol's blind spot. The overhaul…
Ethereum whales buy $2bn as spot ETF outflows hit 10 days
The most aggressive bet against Ethereum (ETH) is being placed at the exact moment its largest holders are buying — a divergence that has set up one of the most asymmetric positioning traps of the…
XRP ETFs draw $84m in May as BTC and ETH funds shed $2bn
XRP exchange-traded funds (ETFs) pulled in roughly $84 million across May 2026 — their strongest month of the year — even as spot Bitcoin (BTC) and Ether (ETH) funds collectively shed more than $2 billion…
Solana leads all chains in tokenized stocks for 50th straight week
Solana (SOL) has now led every other Layer 1 (L1) and Layer 2 (L2) blockchain combined in tokenized stock trading volume for 50 consecutive weeks, even as the token trades near $84 — a divergence…
Tether’s USAT jumps 540% to $141m but trails USDC’s $76bn
Tether's US-regulated stablecoin USAT grew more than 540% month-over-month to a $140.8 million market capitalisation in April 2026, according to its latest reserve report — a headline number that looks explosive until it is set…