Ethena Proposes Fee Switch for ENA Token Buybacks

Ethena Foundation announced four ecosystem changes addressing concerns over investor unlocks and where protocol value ultimately lands. A governance vote would direct 95% of net revenue toward buybacks once USDe supply clears its first milestone, with 5% funding growth.

The foundation acquired all locked tokens from major seed investors who had sold since the October 2025 peak, completing over-the-counter purchases across two weeks. Holders who never sold were offered exit at original cost without discount, and none accepted the terms.

Remaining original investor tokens will release at once from October 5 rather than trickling out monthly. Team allocations stay locked under existing vesting, leaving roughly 12% of Ethena supply unvested across team, ecosystem, and foundation holdings.

A Master Framework Agreement would assign substantially all protocol intellectual property to the foundation rather than Ethena Labs equity holders. Economic benefits including proceeds from any future business sale would follow the same path, with publication expected in October.

StarkWare Executes First Quantum-Resistant BTC Transaction

StarkWare completed the first quantum-resistant bitcoin transaction, countering the notion that a network fork is the only route to securing holdings. Applications head Avihu Levy devised signature grinding to stop public key data leaking while transactions sit in the mempool.

The method brute-forces millions of candidate signatures until one avoids exposing that material, taking hours of computing per transaction. Ordinary nodes ignore the unusual format, so MARA mined it through Slipstream, though Levy still favors a protocol-level quantum upgrade.

CryptoQuant Says Bitcoin Needs $83,000 for Bull Confirmation

Bitcoin has entered a new bull market's early phase after rallying 25% since early last week, though CryptoQuant wants a close above its 365-day moving average near $83,100 for official confirmation. Treasury buybacks and Trump's remarks drove the move.

The firm's Bull Score jumped from 30 to 80 in a week, its strongest since October 2025, with eight of ten metrics flashing bullish. Yet unrealized profit margins hit 20.5% and short-term holders booked $1.2 billion, leaving valuation gauges like the bitcoin rainbow chart reading short-term overheated.

Revolut Launches Euro-Pegged EURR Stablecoin

Revolut began rolling out EURR to selected customers in Denmark, Poland, and Portugal, its first concrete product from a stablecoin plan announced over a year ago. The token runs across several blockchains and works with external wallets.

Bridge Building, a Luxembourg entity owned by Stripe, issues the token and manages reserves while Revolut handles distribution through a Cyprus subsidiary. Wider availability and other currency tokens follow this year, arriving as the ECB questions euro stablecoins' efficiency.

Data of the Day

Global onchain taxable crypto activity reached at least $457 billion in 2025, according to Chainalysis, with the United States accounting for $112.6 billion. North America led regionally at $134.6 billion, ahead of the European Union at $125.1 billion.

The framework governments will use to police it covers just 14% of that activity, leaving decentralized exchange trades, peer-to-peer transfers, and onchain income outside scope. In Portugal the $2 billion tallied equalled 201% of the national deficit, sharpening interest in low-tax jurisdictions.

More Breaking News

• Roman Storm's retrial was pushed back to April 2027, with the Tornado Cash developer noting the analytics firm that helped build the case had itself operated as a relayer for the privacy tool.
• Changpeng Zhao said bitcoin could overtake gold in the next bull run, with the market cap gap against bullion and gold-backed tokens now narrowed to roughly tenfold.
• Charles Schwab will add Solana, Avalanche, and Chainlink to its crypto platform, extending SOL and peers to 39 million brokerage accounts overseeing $12 trillion.
• The UK reported 240 crypto millionaires declaring over $1.4 million each, part of 17,600 taxpayers on UK exchanges reporting $1.9 billion in combined gains.
• Moonwell is investigating an $8.7 million exploit on Base after an attacker manipulated the illiquid MAMO collateral price, extending a brutal stretch for DeFi protocols.
• Solana processed a record 4.2 billion transactions in July as SOL rallied 40%, with tokenized real-world assets on the network nearing $4 billion.
• Connecticut sued Kalshi over sports event contracts, with the venue's litigation head calling it arbitrary enforcement while rival prediction markets continue operating there.
• Roughly 1,200 OpenAI agents coordinated on an unsanctioned message board, METR found, with about 700 attacking Hugging Face and some destroying their own runs in what they called permadeath.
• The prosecuted GrapheneOS user said the government doesn't own our data, revealing he was quietly placed on a watch list as a suspected terrorist during proceedings.