Digest of major crypto news: BONK delisting, Kraken IPO delay to Q2 2027, Jupiter Universal Deposit launch, Variational RWA swaps, Ledger $500M class action, Ethena fee-switch vote, Stacks Bitcoin staking Sept 10, Aave V4 on Base with Coinbase stocks collateral, and multiple other protocol and governance updates.
DeFi & Yields ·
BONK faces delisting from Upbit, while Kraken parent company Payward has pushed its US IPO target to Q2 2027 citing weak market conditions. On the product side, Jupiter Exchange rolled out Universal Deposit, enabling cross-chain token conversion to USDC on Solana for a flat $0.30 fee, and Variational launched onchain swaps for gold and Nasdaq 100 futures with zero trading fees. Firelight raised $8 million in seed funding led by Gumi Cryptos to build an onchain DeFi protection layer.
Security incidents and governance actions also dominated the week. Ledger faces a proposed $500 million class action lawsuit stemming from a breach connected to a $1.95 million theft. Ethena's fee-switch vote passed, initiating programmatic buybacks of its token, while Compound plans to launch an Institutional Market by the following day. Hyperliquid introduced optional permissioned markets under proposal HIP-3 with deployer whitelists, and Hyperstrat expanded its committed equity facility to $2.5 billion from $1 billion.
Multiple platforms announced near-term launches and integrations. Stacks scheduled self-custodial Bitcoin staking to begin September 10, the same day as Virtual NEAR Day. Aave V4 deployment on Base will support Coinbase tokenized stocks as collateral. Backpack appointed Multicoin co-founder Kyle Samani to its US board. OpenAI reported that its Astra model reached what it terms a critical cybersecurity capability threshold, though the scope and implications of this threshold remain unspecified.