Proof of Play, the Andreessen Horowitz-backed Web3 gaming studio behind fully on-chain RPG Pirate Nation, announced it is ceasing operations after concluding it could not build a scalable and sustainable blockchain gaming business. The company will open-source Pirate Nation assets while an independent foundation continues supporting the PIRATE token.
Solana validators are signaling support for linked governance proposals SGP-0003 (SIMD-0550 and SIMD-0553) that would introduce resource-based transaction fees and double the disinflation rate, potentially increasing daily SOL token burns from approximately $47,000 to $650,000.
Illia Polosukhin, co-founder of NEAR Protocol, has proposed creating a protocol sovereign fund seeded with approximately 30 million NEAR tokens (valued between $57-450 million) to generate yield for network operations and potentially reduce token inflation. The fund would consolidate treasury assets and use protocol revenue to support validators, security, and public goods.
Solana memecoin platform Pump.fun terminated over 40 employees approximately two months before their PUMP token allocations were scheduled to vest, according to a Sandmark report, leaving at least one former employee without access to tokens potentially worth millions.
Tether posted $1.5 billion in net operating profit for Q2 2026, down from $4.9 billion in Q2 2025. The company's excess reserves dropped from $8.23 billion to $4.11 billion, while USDT supply reached $184.6 billion and gold holdings increased by 14 tons.
Blockchain asset management protocol Swan Treasury suffered an estimated $625,000 loss when attackers exploited a leaked off-chain signer key to purchase STY tokens at a steep discount and sell them for profit.
Voluntary Chapter 11 filed July 26, 2026 (Case No. 5:26-bk-00512, Northern District of West Virginia) by decentralized cloud storage provider Storj Labs to restructure legacy liabilities; parent company Inveniam supports the process while management proposes an equity conversion framework for STORJ token holders.
Decentralized cloud storage provider Storj Labs filed for voluntary Chapter 11 bankruptcy protection on July 26, 2026, citing legacy obligations. The company's STORJ token fell approximately 16-20% following the announcement, though Storj says operations will continue.
Sky Frontier Foundation reported that Sky Protocol generated $107.35 million in Gross Protocol Revenue for the second consecutive quarter above $100 million. According to the foundation, Protocol Collateral rose 45.5% year-over-year to $12.32 billion, sUSDS supply increased 149% to $5.52 billion, and the protocol recorded its fifth consecutive quarter of positive surplus.
S&P Dow Jones Indices and Pantera Capital have launched the S&P Pantera Digital Asset Index, an 18-constituent benchmark that screens digital assets based on protocol revenue, market size, and liquidity. The index notably excludes Bitcoin, which does not generate protocol revenue, and includes Ethereum, BNB, Solana, Tron, and Hyperliquid as major holdings.
MVMT Labs, the developer behind the Movement blockchain, filed for Chapter 11 bankruptcy in Delaware on July 15. The filing follows months of upheaval including a controversial market-making agreement, internal investigation into its MOVE token launch, and a Binance ban.
Arbitrum announced that all Layer 2 chains built with its technology that settle outside of Arbitrum One or Nova will pay 10% of net protocol revenue to the Arbitrum ecosystem. Robinhood Chain, which has seen $568M in trading volume, is among the chains affected by this new revenue-sharing arrangement.
A consortium of over 140 major financial and technology companies including Visa, Stripe, Mastercard, BlackRock, Coinbase, and Bank of New York Mellon launched Open USD (OUSD), a new stablecoin that shares reserve earnings with participants. The announcement caused Circle Internet Group shares to tumble 15% as the initiative directly challenges existing stablecoin leaders.
Coinbase has taken over as the official USDC treasury deployer on Hyperliquid using the AQAv2 framework, potentially adding $200 million in annual revenue, while BitMEX co-founder Arthur Hayes warns the protocol's token burn model could lead to market share losses.
Privacy coin Zcash experienced a dramatic rally, adding between $1-2.5 billion to its market capitalization after founder Zooko Wilcox unveiled the 'Ironwood' upgrade proposal designed to address long-standing concerns about the cryptocurrency's supply verification.
Web3 investigator ZachXBT flagged RAVE token as a potential pump-and-dump scheme after it surged over 4,500% with nearly 90% of supply concentrated in three wallets. Binance and Bitget have committed to investigating the token's suspicious price movement.
Trump-backed World Liberty Financial has proposed burning up to 4.52 billion tokens (10% of insider allocation) and implementing 2-5 year vesting schedules for 62.3 billion locked tokens. The proposal has drawn harsh criticism from major investor Justin Sun, who called it an 'absurd governance scam.'
Decentralized email service Dmail Network announced it will cease operations on May 15, 2026, after five years of development, citing high infrastructure costs, failed fundraising attempts, and weak token utility.
World Foundation subsidiary sold 239 million WLD tokens worth $65 million through OTC deals to fund operations, R&D, and orb production. The token hit a new all-time low of approximately $0.24, down 97% from its March 2024 peak near $11.82.
