While the crypto world at large remains in a state of some volatility, a small core of projects has been able to prove themselves consistently profitable. Of the approximately 40,000 projects that exist in the crypto space, Token Terminal recently took a look at the 10 that generate not only clear business models but also impressive profit margins. More often than not, those projects serve as either technical or financial infrastructure inside the crypto world. Industry stalwarts such as Tether, Tron, and Circle top the profit tables. They reap the rewards of huge user numbers and steady on-chain activity. These crypto firms seem to have hit a sweet spot — in a part of the digital economy where resilience is the name of the game. Tether Earns $432M in Fees, Cementing Its “Money Printer” Status Tether sits comfortably at the top of the list. It has reportedly generated an astonishing $432 million in fees. This performance has earned the issuer of the USDT stablecoin the informal nickname of “money printer,” reflecting its unparalleled dominance in the stablecoin arena. With over $100 billion in circulating supply and widespread adoption across exchanges, blockchains, and DeFi protocols, Tether’s consistent revenue stream stems largely from the interest it earns on its reserves, as well as its operational fees. The blockchain network supporting most of USDT’s circulation, Tron ranks second for profitability. It has steadily created a low-cost, high-volume transaction economy that appeals to users in emerging markets, as well as to anyone sending money across borders. Its profitability and performance during the bull market of 2020-2021 and the bear market that started in late 2021 make it an essential part of crypto to crypto transfers. And USDT transfers. And TRC20 transfers. Coming in third is Circle, who issues USDC. While it is not directly competing with Tether for market share, it has established a reputation for operating within the regulations, and for being transparent. Its supply of USDC is also in the tens of billions, but it remains profitable. Its compliance and transparency are reasons for the trust an increasing number of institutions and developers are placing in it. DeFi Staples: Uniswap, PancakeSwap, and Lending Protocols See Steady Gains Beyond stablecoins and infrastructure, decentralized finance (DeFi) remains remarkably resilient. The unicorns in the DeFi sector, Uniswap and PancakeSwap, occupy the fourth and fifth spots respectively in terms of profitability. These two decentralized exchanges (DEXs) profit directly from trading volume; each of them nets 0.30% of the outgoing transaction amount from every swap. They make money when you make a trade, and—despite the turbulence elsewhere in the crypto space—they’ve been making some pretty significant bank. In the past 30 days, revenue for PancakeSwap has soared 87%. This is mostly due to the Binance Alpha campaign, which has pumped new attention and new liquidity into the platform. As a major player in the Binance Smart Chain ecosystem, PancakeSwap’s performance shows how much DeFi protocols can benefit from marketing and good exchange partnerships. Prominent in the rankings of profitable platforms are lending platforms, with the biggest earners captured in the top spots. We have Lido, the leader in liquid staking solutions, and Aave, a long-standing Decentralized Finance (DeFi) lending protocol, taking the sixth and seventh spots. Who are the top 10 most profitable projects in crypto? According to @tokenterminal , #Tether , #Tron , and #Circle take the top three spots. Tether leads the pack with a whopping $432 million in fees, earning it the nickname “money printer.” #4-5: Uniswap, PancakeSwap #6-10:… https://t.co/hzrsBrEUwP — Followin (@followin_io) June 24, 2025 Aave reported a strong 32% increase in revenue in the past month, signaling a rebound in borrowing and lending activity across the ecosystem. Emerging Players and Ethereum’s Enduring Role Completing the list of the top 10 are Pump.fun, Ethereum, and Axiom. This might seem an odd grouping, and it is; but that only highlights the respective strengths of each oddity in appealing to user bases of sufficient size and fervor to land themselves among the top 10. Which is to say nothing of Axiom, Elixir, and the entirely fictional (at least as of now) platform Pump.fun, whose unfettered imagination wins it a place in the top 10 for 2020. Ethereum, which serves as the foundation for much of the DeFi and NFT ecosystem, appears surprisingly low on the most profitable crypto list. Dip into the inclusion of the second-largest crypto by market cap and look at what makes it the most unprofitable Layer 1 with a considerable distance to bridge to Layer 2 in terms of profitability. Axiom (more recent) adds to the top 10; its presence hints at something notable: unique services are on the rise, falling under protocols not well-known to most people. They might be well-known to enthusiasts, just like the most famous people in the world are known to some but not to all. And well, the most famous people don’t necessarily do anything particularly notable or unique from day to day. Profitability Reflects Market Maturity and Strategic Focus This updated profitability ranking shows more than just who in crypto is raking in the most cash at this moment. It’s a look, more than anything, at which projects in the space have built something sustainable, something that users trust, and something that offers real-world utility. From the supremacy of stablecoins and exchanges to the emergence of liquid staking and niche applications, the profitability we see in the crypto market is becoming tethered to operational efficiency and actual use cases. While the market is still maturing, these ten projects have set themselves apart—not just for the revenue they’re generating, but for their long-term potential to stick around in an industry that’s still finding its legs. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
This content is provided by a sponsor. PRESS RELEASE. BTCC, one of the world’s longest-serving exchanges, celebrates its 14th anniversary by launching its first-ever user badge program. The milestone campaign, running from June 16 to July 1, 2025, introduces the exclusive “14 Years of Momentum” badge. This limited-edition emblem aims to honor community loyalty as
The Dogecoin price is in focus, having closed the daily candle with a Doji. Crypto analyst Trader Tardigrade commented on this development and revealed what it could mean for the foremost meme coin. What’s Next For Dogecoin Price Following Doji Daily Close In an X post, Trader Tardigrade highlighted the fact that the Dogecoin price daily candle closed with a Doji. He remarked that a new sign of a breakout has emerged following a Doji at the end of a downtrend. The analyst noted that this indicates a high possibility of a trend reversal from downtrend to uptrend. Related Reading: Dogecoin Price Enters Historical Bounce Zone, But Will This Time Be Different? The Dogecoin price has witnessed a massive decline over the last month, down over 27% during this period, according to CoinMarketCap data. DOGE has dropped way below the psychological $0.2 price level, providing a bearish outlook for the meme coin. However, Trader Tardigrade’s analysis suggested that the meme coin could soon record another massive rally to the upside. The analyst’s accompanying chart showed that the Dogecoin price could reclaim the $0.2 level on this projected trend reversal to the upside. Fundamentals also support a DOGE rally, seeing as tensions in the Middle East have cooled off, with Israel and Iran agreeing to a ceasefire. Meanwhile, the Bitcoin price has again rallied and reclaimed the $106,000 level. This is bullish for the meme coin given its correlation with the flagship crypto. In another X post, Trader Tardigrade provided a bullish outlook for the Dogecoin price, stating that DOGE season could be approaching soon. He revealed that the DOGE/BTC pair has experienced the last shakeout, signaling the start of the meme coin’s season. His accompanying chart showed that Dogecoin could rally above $2 once this DOGE season begins. Key Levels To Watch For DOGE In a YouTube video, crypto analyst Kevin Capital highlighted the range between $0.12 and $0.142 as the key level to watch for the Dogecoin price. The analyst also alluded to DOGE’s weekly Relative Strength Index (RSI), stating that the meme coin cannot afford to drop below 38. He claimed that a drop could lead to the meme coin falling into a bear market structure. Related Reading: Dogecoin Price Crash Below $0.2: 4H Order Block Shows Exactly What’s Happening Kevin Capital then highlighted the DOGE/BTC pair, noting that the meme coin is at a critical level that it needs to hold above if it is to outperform Bitcoin later in the year. The analyst expects the meme coin to make a significant run and outperform the flagship crypto when the Fed begins to ease monetary policies. The analyst remarked that a positive for DOGE is that there are bullish indicators flashing for the meme coin on the daily timeframe. At the time of writing, the Dogecoin price is trading at around $0.16, down in the last 24 hours, according to data from CoinMarketCap. Featured image from Adobe Stock, chart from Tradingview.com
BitcoinWorld Aurora Mobile Unlocks Massive Crypto Treasury Strategy: A Game Changer for Digital Asset Adoption In a move that signals growing confidence in the digital asset space, marketing technology provider Aurora Mobile has made headlines by approving a groundbreaking crypto treasury strategy . This isn’t just another company dipping its toes; Aurora Mobile is committing up to 20% of its cash and cash equivalents to cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Sui (SUI). What does this bold decision mean for the future of corporate finance and the broader crypto market? Let’s dive in. What Does Aurora Mobile’s Crypto Treasury Strategy Entail? The core of Aurora Mobile’s announcement, as reported by Solid Intel on X, revolves around a significant allocation of corporate funds into digital assets. Traditionally, corporate treasuries are managed with a conservative approach, focusing on liquidity, capital preservation, and modest returns through traditional instruments like cash, bonds, and money market funds. Aurora Mobile’s decision to allocate a substantial portion—up to one-fifth—of its cash reserves into volatile, yet potentially high-growth, cryptocurrencies marks a departure from this norm. Significant Allocation: Up to 20% of cash and cash equivalents. This is a considerable percentage for a publicly traded company. Diversified Portfolio: Beyond just Bitcoin, the strategy includes Ethereum, Solana, and Sui, indicating a belief in a multi-chain future and the diverse applications within the crypto ecosystem. Strategic Intent: This isn’t merely speculative trading but a formal treasury strategy, suggesting a long-term view on the value and utility of digital assets. This move positions Aurora Mobile alongside a growing list of forward-thinking companies that are exploring or actively implementing digital asset strategies for their balance sheets. It underscores a fundamental shift in how corporate finance departments view and utilize emerging technologies. Why Are Companies Adopting a Crypto Treasury Strategy Now? The trend of companies holding cryptocurrencies on their balance sheets isn’t entirely new, but it’s gaining significant momentum. Pioneers like MicroStrategy and Tesla paved the way, demonstrating that holding digital assets could be a viable, albeit volatile, component of a corporate treasury. But why the surge now, and why would a marketing technology provider like Aurora Mobile embrace such a strategy? Several factors are contributing to this trend: Inflationary Concerns: With global inflation remaining a persistent concern, traditional fiat currencies are losing purchasing power. Cryptocurrencies, particularly Bitcoin, are increasingly viewed by some as a hedge against inflation due to their decentralized nature and finite supply. Potential for High Growth: While volatile, the cryptocurrency market has shown immense growth potential over the past decade. Companies are looking to diversify their treasury holdings beyond low-yield traditional assets to potentially capture some of this upside. Technological Advancement & Innovation: Embracing digital assets can also signal a company’s commitment to innovation and its understanding of emerging technologies. For a marketing tech provider like Aurora Mobile, aligning with cutting-edge tech like blockchain can enhance its brand image and attract talent. Increasing Institutional Acceptance: The regulatory landscape is slowly but surely maturing, and more institutional players are entering the crypto space, lending legitimacy and infrastructure that makes corporate adoption more feasible. Yield Opportunities: Beyond simply holding, some advanced crypto treasury strategies explore yield-generating opportunities within decentralized finance (DeFi), though Aurora Mobile’s initial announcement focuses on direct allocation. What Does This Mean for Institutional Crypto Adoption? Aurora Mobile’s decision is a significant indicator of the accelerating pace of institutional crypto adoption . When a publicly traded company, particularly one outside the traditional finance or blockchain sectors, makes such a move, it sends a powerful signal to the broader market. It normalizes the idea of digital assets as legitimate components of a corporate balance sheet. Historically, institutions have been cautious due to regulatory uncertainty, volatility, and lack of robust infrastructure. However, as the ecosystem matures with clearer regulations, better custody solutions, and increasing liquidity, more institutions are finding ways to participate. This trend suggests: Increased Mainstream Acceptance: Each new corporate adoption chips away at the perception of crypto as a fringe asset, moving it closer to mainstream financial acceptance. Demand for Infrastructure: It will drive further demand for secure, compliant, and scalable solutions for institutional-grade crypto management, including custody, trading, and reporting tools. Market Stability: As more institutions enter, the market could potentially see greater stability over the long term, as institutional capital tends to be less reactive than retail speculation. A Closer Look at the Bitcoin Allocation and Ethereum Investment The specific cryptocurrencies chosen by Aurora Mobile for its treasury allocation are noteworthy. The inclusion of Bitcoin (BTC) and Ethereum (ETH) is almost a standard for any company venturing into crypto treasury management, given their market dominance and established ecosystems. Bitcoin (BTC) Allocation: The Digital Gold Standard Bitcoin’s role in a corporate treasury is often likened to digital gold. Its finite supply (21 million coins), decentralized nature, and long track record make it an attractive store of value. Companies opting for a Bitcoin allocation typically view it as a long-term hedge against inflation and a non-sovereign asset that diversifies their traditional fiat holdings. Its liquidity is unmatched in the crypto space, making it relatively easy to acquire and divest large sums. For Aurora Mobile, a Bitcoin allocation could be seen as a strategic move to preserve and potentially grow the value of its cash reserves in an unpredictable economic environment. Ethereum (ETH) Investment: Powering the Decentralized Future An Ethereum investment signals a slightly different strategic intent. While Bitcoin is primarily a store of value, Ethereum is the foundational layer for a vast ecosystem of decentralized applications (dApps), DeFi protocols, NFTs, and Web3 innovations. Investing in ETH is an investment in the future of decentralized internet infrastructure and programmable money. For a marketing technology provider, an Ethereum investment could also be seen as an alignment with the very technologies that are shaping the next generation of digital engagement and commerce. It provides exposure to the growth of smart contracts and the burgeoning digital economy. Beyond BTC and ETH: Solana (SOL) and Sui (SUI) The inclusion of Solana (SOL) and Sui (SUI) in Aurora Mobile’s portfolio is particularly interesting. These are newer, high-performance Layer 1 blockchains designed to offer faster transaction speeds and lower costs compared to Ethereum (though Ethereum’s scalability is improving with upgrades like Ethereum 2.0). Solana (SOL): Known for its high throughput and low transaction fees, Solana has attracted a vibrant ecosystem of dApps, DeFi projects, and NFT marketplaces. Its inclusion suggests Aurora Mobile is looking for exposure to fast-growing, scalable blockchain platforms. Sui (SUI): As a relatively newer blockchain built by former Meta (Facebook) engineers, Sui is gaining traction for its object-centric model and parallel execution capabilities, aiming for extreme scalability. Investing in Sui shows a willingness to embrace emerging, high-potential technologies. This diversification beyond the top two cryptocurrencies indicates a more nuanced and potentially aggressive strategy, aiming to capture growth from promising newer ecosystems. Challenges and Considerations for Corporate Crypto Treasuries While the potential benefits are significant, corporate crypto treasury strategies are not without their challenges. Companies like Aurora Mobile must navigate a complex landscape: Volatility: Cryptocurrencies are notoriously volatile. A 20% allocation means that a significant portion of a company’s treasury could see substantial fluctuations in value, impacting financial statements and potentially investor perception. Regulatory Uncertainty: The regulatory environment for cryptocurrencies is still evolving globally. Changes in laws or new restrictions could impact the value or usability of digital assets. Security Risks: Holding digital assets requires robust security measures against hacking, theft, and loss of private keys. Custody solutions become paramount. Accounting and Tax Implications: The accounting treatment and tax implications of holding cryptocurrencies can be complex and vary by jurisdiction, requiring specialized expertise. Public Perception: While increasingly accepted, some traditional investors might view crypto allocations as overly risky, potentially affecting stock performance or investor relations. Companies embarking on this path typically engage specialized consultants, legal counsel, and robust internal controls to mitigate these risks. Actionable Insights for Businesses Considering Crypto For other companies observing Aurora Mobile’s move with interest, here are some actionable insights: Start Small and Learn: Instead of a large allocation, consider a smaller, experimental allocation to gain familiarity with the operational aspects, security protocols, and market dynamics. Define Your Objectives: Clearly articulate why you want to hold crypto. Is it for inflation hedge, growth, or strategic alignment with Web3? Your objectives will dictate your asset choices. Seek Expert Advice: Engage legal, tax, and financial advisors specializing in digital assets. This is not a DIY project for corporate treasuries. Implement Robust Security: Prioritize secure custody solutions, whether through third-party institutional custodians or highly secure self-custody practices. Educate Your Stakeholders: Prepare to communicate your strategy clearly to your board, investors, and employees, explaining the rationale and risk mitigation measures. The Future is Digital: Aurora Mobile Leading the Charge Aurora Mobile’s approval of a digital asset treasury strategy is more than just a financial decision; it’s a statement about the future of corporate finance and the increasing integration of digital assets into the global economy. By allocating a significant portion to Bitcoin, Ethereum, Solana, and Sui, Aurora Mobile is positioning itself at the forefront of a paradigm shift. This move highlights a growing confidence among corporations in the long-term viability and potential of the cryptocurrency market. As more companies follow suit, we can expect to see further maturation of the institutional infrastructure supporting digital assets, potentially leading to greater stability and broader acceptance. Aurora Mobile is not just investing in crypto; it’s investing in a vision of a more decentralized, digitally native future. To learn more about the latest crypto market trends, explore our article on key developments shaping institutional adoption. This post Aurora Mobile Unlocks Massive Crypto Treasury Strategy: A Game Changer for Digital Asset Adoption first appeared on BitcoinWorld and is written by Editorial Team
Bitcoin's long-term holders refuse to sell, with LTH spending hitting a two-week low.
Bitcoin’s rising correlation with stocks is less about investor exuberance and more about eroding trust in the dollar. The real story is not a newfound appetite for risk — it’s a flight from the perceived fragility of the US dollar.
The Base network —Layer 2 solution developed by Coinbase—has hit levels of user activity that were previously unheard of, signaling a pretty big move toward not just mainstream adoption, but actual institutional interest, too. Over the past week, Base hit a new all-time high (ATH) of 3.6 million daily active users and an absolutely staggering 14 million weekly active users. This positioning puts Base as one of the fastest-growing ecosystems in the Ethereum Layer 2 landscape. The milestone comes at a very busy time for Coinbase and close to some very big and exciting recent events. Even JPMorgan, the proverbial doomsayer for the crypto industry, is now a development partner for a big financial app built on top of Base. Other top-level retail and institutional partners joining in include PayPal and a selection of major Web3 services. All these app partners are in the process of transforming some aspect of their customer service from old-school Web2 to new Web3 solutions. Base is on the verge of becoming a major customer service front for a whole range of retail and institutional financial applications. Coinbase Deepens Commitment with DEX Integration and European Expansion Among the most important causes of Base’s recent growth has been the announcement from Coinbase that it will integrate decentralized exchange (DEX) trading directly into its main app. This not only simplifies access to on-chain trading for Coinbase’s tens of millions of users, but also serves to shine a light, in an unprecedented way, onto the tokens that natively belong to the Base network. The integration is expected to lower entry barriers and drive liquidity and volume into Base-based assets that many prior to this point had either assumed were dormant or had simply never noticed. Further bolstering Base’s prospects is Coinbase’s successful acquisition of a MiCA (Markets in Crypto-Assets) license. This regulatory approval allows Coinbase to offer digital asset services across all 27 member states of the European Union. By opening the doors to a massive new market, the MiCA license enables Coinbase — and, by extension, the Base network — to onboard millions of new users and developers across Europe. The license also sets a legal precedent that could pave the way for increased enterprise adoption on the continent. The simultaneous development of both DEX functionality and regulatory clarity in Europe provides a much easier environment for continued growth. This especially benefits any dApps and services that are built natively on Base, which should see an uptick in user traffic as a result. JPMorgan Plans Institutional Token Launch on Base The Base network isn’t just attracting retail players; institutional players are beginning to take notice, too. In fact, a recent move by JPMorgan to launch a new token, the $JPMD, on the Base network underscores growing confidence in not only Base but also in the broader Ethereum ecosystem. What exactly is the $JPMD, and what does this development mean for Base and the Ethereum ecosystem? Launching $JPMD on Base instead of on Ethereum’s mainnet or another Layer 2 solution represents *JPMorgan’s* strategic decision to operate in a space conducive to successful outcomes. And Base—a network that features high throughput, low fees, and backed as it is by a U.S.-regulated entity (Coinbase), is a pretty good choice for that. If $JPMD is successful, it could act as a model for other large financial institutions exploring the kind of tokenized banking solutions that $JPMorgan$ is now *tokenizing*. The $JPMD initiative represents a change in the way that traditional finance interacts with public blockchain infrastructure. Additionally, it sends a very clear message: Base is not merely a testing ground for DeFi startups and retail users; it is a serious venue for financial innovation. Shopify Testing USDC Payments on Base: Real-World Utility on the Horizon One of the most encouraging signals is coming from outside the crypto-native world. Shopify, the global e-commerce giant, is now testing payments in USDC on the Base network. Still in its early stages, this pilot program represents a concrete step toward real-world adoption of cryptocurrency payments for goods and services. Should Shopify grow the integration outside of testing, it could allow for a large number of merchants and consumers to use USDC on Base in daily commerce. Base hits record activity level Last week, @base reached new ATH in user activity, with 3.6M daily and 14M weekly active users. Several recent developments have influenced this growth. @coinbase announced plans to integrate DEX trading directly into its app, which will boost… pic.twitter.com/Zm1nDCbE9c — CryptoRank.io (@CryptoRank_io) June 23, 2025 Critics have commonly said the only use case for cryptocurrency is buying it, and the scale and utility of a blockchain payment system is a direct answer to that allegation. For that to happen, however, is indeed a direct question to the allegation. This initiative spotlights the increasing importance of stablecoins such as USDC in international trade, especially when coupled with networks like Base that are speedy and economical. For Base, this is yet another indication of the network’s evolution into a full-fledged platform that serves developers and enterprises, retail users, and serious financial players. Base’s Growth Signals a Maturing Layer 2 Ecosystem Base, with hat gives millions of users, is the leading formation in the Ethereum Layer 2 ecosystem. I use hat to show what makes Base great: – Regulatory wins. – Retail innovations. – Enterprise-grade applications. Should the prevailing impetus persist, Base might soon discover itself not merely contending for the scaling requirements of Ethereum but also vying for a pivotal position in the international realm of digital finance. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !
On June 25th, remarks from former U.S. President Trump regarding diplomatic negotiations with Iran influenced the cryptocurrency market, notably causing a brief 0.7% dip in Bitcoin’s value. Trump emphasized that
Chinese Web3 hardware and infrastructure company Nano Labs has put the crypto and equity markets in overdrive, announcing a $500 million convertible notes deal to start a billion-dollar Binance Coin (BNB) treasury program. The deal, which could see Nano Labs acquiring up to 10% of all outstanding circulating BNB supply, pushed its shares listed on Nasdaq over 100% higher in a day. Deal Structure: Convertible Notes and Daring Treasury Shift Nano Labs begins its strategy with the offering of $500 million of unsecured convertible promissory notes that will come due in 360 days with no interest. Convertible note investors may convert their holdings into Nano Labs' Class A ordinary shares at a conversion price of $20 a share—nearly twice the stock's close before the news. Unless converted, the principal is paid at maturity. The company will fund the balance of its $1 billion BNB war chest through private placements, one of the largest altcoin treasury plans ever undertaken by a public company. The deal is not done but will settle on standard terms, with several investors already pledging to subscribe. Nano Labs' management confirms the deal is a major milestone in its strategic growth, with BNB now at the centre of its digital asset reserve. Why BNB Over Bitcoin? A Strategic Shift Nano Labs' move is the anomaly in an ocean of corporate treasuries that have been focused on Bitcoin. The company, which had $5.5 million in BTC beforehand, now looks to BNB, relating to the token's visibility as a leading asset on the Binance platform and its growing applicability to Web3 and DeFi. Executives believe BNB's utility, network effects, and entrenchment among Binance's $14B daily trade volume make it a reserve asset that is future-proof. This play is an altcoin adoption bet too. As one analyst speculated, ”Institutions have been overexposed to Bitcoin—Nano Labs is signaling a new era of diversified crypto treasuries.” The play tracks increased institutional demand for BNB with other hedge funds rumored to be establishing reserve plays. BNB Liquidity and Price Outlook Nano Labs' aggressive accumulation could have profound implications for BNB's liquidity and price. The business plans to accumulate 5% to 10% of all outstanding supply of BNB—up to 9.4 million tokens, worth billions at current prices. Such accumulation can strangle supply, drive prices higher, and increase volatility, especially if other corporates follow suit. BNB picked up by 2.7% on the news, while Nano Labs' shares doubled, rising to $29 before settling close to $15. Market players are now awaiting to see if this will trigger a cross-the-board altcoin treasury move, as companies seek something other than keeping reserves in Bitcoin. Though the arrangement has charged markets, it has risks attached to it. The notes are not secured, and the completion of the deal is not certain. Regulator scrutiny may increase, particularly as more public companies move towards altcoin treasuries. Nano Labs states it will undertake a complete evaluation of BNB's security and worth before scaling up its holdings, in an effort to alleviate the concerns of investors as well as regulators. Bottom Line Nano Labs' $500 million convertible notes move is an altcoin treasuries watermark and institutional crypto onboarding. If successful, it has the potential to shake up the BNB market, encourage other firms to diversify out of Bitcoin, and mark the beginning of a new age for institutional crypto reserves—one where the world's largest tokens compete for a spot on the corporate balance sheet.
zkLend, a decentralized money lending protocol on Starknet, has announced that it is shutting down its operations. The layer 2 money market lending protocol, built on the Starknet ( STRK ) network, revealed the development on June 25, a few months after suffering a nearly $10 million hack. What happened? zkLend lost over $9.5 million in the exploit that occurred on February 12, 2025. Per the latest update, the protocol has seemingly failed to recover from that attack, with the situation worsened by the delisting of ZEND. You might also like: zkLend hacker loses all 2,930 stolen ETH to TornadoCash phishing scam According to the announcement the Starknet -based L2 shared on X, these two factors are central to the decision to cease operations. “This decision was not made lightly,” zkLend posted. “Over recent months, the exploit we suffered has deeply eroded user confidence, and furthermore, the recent removal of ZEND from major exchanges such as Bybit and KuCoin has further constrained token liquidity and accessibility.” In light of these challenges, zkLend found it difficult to “effectively allocate toward any new initiatives.” As a result, the protocol is now shifting focus to user restitution. The $200,000 still held in treasury will be directed toward recovery efforts for users impacted by the hack. zkLend is keeping its DeFi Spring, recovery , and kSTRK portals open for unstaking or claims. Crypto hacks zkLend’s exploit is one of many crypto hacks to hit the industry in recent months, with security experts noting a significant increase in crypto thefts amid major breaches such as the $1.4 billion Bybit hack. In 2024, more than 160 incidents saw attackers steal over $2.3 billion, 40% more than the $1.69 billion lost to various attacks the previous year. Exploits have often debilitated smaller projects, with native tokens plummeting to near zero amid market reaction. Recently, the Sui ( SUI ) token slumped amid a more than $220 million hack of the decentralized exchange protocol Cetus. zkLend’s security breach also saw Starknet’s native token come under downside pressure. STRK currently trades around $0.11, down more than 28% in the past month and 84% over the past year. You might also like: Cork Protocol exploiter launders stolen funds via Tornado Cash, donates 10 ETH to developers’ legal fund