centralized

According to data from DefiLlama, Gate has seen a net inflow of approximately 147 million USD in the past 7 days, ranking third among centralized exchanges globally.

According to The Block, Citigroup Research stated in its latest report that Aave is a decentralized collateral liquidity ecosystem, representing one of the more significant real-world cases in tokenized financial infrastructure.Citigroup indicated that collateral liquidity could ultimately become one of the most important use cases for tokenization.

The decentralized trading protocol Metric has officially launched, allowing users to exchange tokens, provide liquidity, and deploy their own liquidity pools. Metric is currently available on Robinhood Chain, BNB Chain, and Ethereum.

Grayscale announced a partnership with the investment platform Republic to offer Grayscale's investment products to qualified investors, including the Grayscale DeFi Fund, Grayscale Decentralized AI Fund, and Grayscale Data Network Trust.Among them, the DeFi Fund covers tokens such as UNI, AAVE, ONDO, ENA, CRV, and LDO; the Decentralized AI Fund covers tokens such as NEAR, TAO, RENDER, and FIL; the Data Network Trust provides investment exposure to the native token DATA of the DATA Network.

Decentralized exchange THORChain announced that native Zcash swaps are now live, allowing users to exchange ZEC with assets on other supported blockchains without relying on wrapped tokens or centralized exchanges. This launch follows the protocol's 3.20 update, which introduced support for Zcash and Monero. At that time, the liquidity in the Zcash pool exceeded $50,000, and the network has begun processing real ZEC swaps.The pool is currently in a soft launch phase, with performance being monitored. If vulnerabilities or other issues arise, trading may be temporarily paused. The current pool size can easily support five-figure trades, while larger trades will experience higher slippage and slower settlement until liquidity increases. When the fee-to-depth ratio is sufficiently high, the protocol's own liquidity will automatically join the Zcash pool. This mechanism was introduced with the 3.20 upgrade, allowing the protocol to deploy a portion of liquidity fees (initially set at 20%) to supported liquidity pools.After integration, ZEC holders can swap their native assets with supported assets such as Bitcoin, Ethereum, and stablecoins without needing to deposit Zcash with a centralized custodian or convert it into wrapped assets on other networks. Zcash brings the total number of native blockchains in THORChain's cross-chain liquidity network to 14, with swaps settled in native assets on their respective chains, rather than transferring assets through cross-chain bridges or requiring users to relinquish custody.

Illia Polosukhin, co-founder of NEAR Protocol, stated in a live interview at the Digital Asset Summit 2026 held in Singapore that as near.com continues to expand its on-chain services, users no longer need centralized exchanges for "a large amount" of crypto activities. He mentioned that near.com is "almost ready" and has a "large roadmap for continuously adding features," including bank withdrawals, transaction records for tax purposes, and selective disclosure for confidential transactions. He also shared his experience using centralized exchanges, stating that despite knowing the company's CEO, one of his accounts was still deleted.near.com integrates cross-chain spot trading, tokenized stocks, wealth management products, and perpetual contracts into a single interface. Polosukhin indicated that most of the infrastructure for NEAR Intents has been migrated to confidential sharding, keeping transaction activities private, and users can disclose individual transactions when needed. He mentioned that near.com has a lot of fiat-related features coming soon and referenced the collaboration between NEAR and Monerium, allowing users to convert euros in their bank accounts to EURe via IBAN. The ultimate goal of NEAR Intents is to handle "any asset to any asset," such as USD to EUR, SGD to HKD.Regarding tokenized stocks, near.com completed integration with Ondo Finance in September, allowing users to convert euros into tokenized NVIDIA stocks, with NEAR planning to add more stocks from global markets.

The U.S. Securities and Exchange Commission (SEC) recently updated the relevant content regarding token buybacks in the frequently asked questions (FAQ) section related to cryptocurrencies. The new regulations clearly state that if there is no centralized entity behind the token buyback, then the buyback arrangement typically does not constitute an Investment Contract.

GoPlus Security posted on platform X that the outflow of funds from THORChain needs to be actively signed by validators through TSS threshold signatures, which is different from Bitcoin and Ethereum; approximately 101.5 BTC (about 8.5 million USD) has already been transferred from the stolen funds on Bitget, and about 27.63 million XRP (about 43 million USD) is being exchanged for BTC, calling for interception of North Korea-related addresses.

OKX founder Star Xu posted on X to refute that the cross-chain liquidity protocol THORChain has actually proven itself to not be truly decentralized. He stated that in May, when THORChain's own treasury was drained, the node operators paused the entire network within minutes, causing it to go offline for 13 hours.Star Xu also claimed that a network that can stop when its own funds are at risk, but refuses to stop when others' funds are at risk, does not "act like Bitcoin." He pointed out that Bitcoin cannot be stopped, while THORChain can be stopped; it simply chooses when to stop.

MistTrack disclosed that following the $1.46 billion hacking incident at Bybit last year, where nearly $1.2 billion in stolen funds were transferred via THORChain, Bitget has recently experienced another significant security incident, with stolen funds suspected to have once again flowed through THORChain.In response, THORChain officials stated that their protocol, like Bitcoin, Ethereum, and BNB Chain, belongs to a decentralized and permissionless network.

Ethereum co-founder Vitalik Buterin stated that PeerDAS has been running stably for nearly a year with virtually no issues, which is an "underappreciated achievement" by Ethereum client developers.Vitalik mentioned that PeerDAS is a complex task and is the first large-scale blockchain system case to achieve "consensus on data availability without any single node downloading the complete block," realizing decentralized consensus without the need for complete data replication.

According to Onchain Lens monitoring, after HYPE broke through 97.5 USD, Wintermute has begun to transfer HYPE tokens in large quantities to major centralized exchanges.

ARK Invest crypto analyst Lorenzo Valente stated that stablecoins have a significant network effect. Although there are thousands of stablecoins in the market, as the market capitalization threshold increases, the number of tiers is rapidly leveling off. Currently, the stablecoins that are truly worth paying attention to are those with a market capitalization exceeding 10 billion dollars, gradually moving towards the 100 billion and 500 billion dollar levels.Data shows that the number of stablecoins with a market capitalization exceeding 1 billion dollars has only increased from single digits to the current 12 since 2021, while the number of stablecoins with a market capitalization exceeding 10 billion dollars has actually decreased from its peak in 2022, with only Tether and Circle's stablecoins remaining. Valente believes that entering the 10 billion dollar market capitalization club has become very difficult, and in the future, the 100 billion dollar level stablecoins may only have two competitors for a long time, while it may take more than two years for only one to reach the 500 billion dollar level.

Tether CEO Paolo Ardoino revealed that Tether's P2P technology team is developing a censorship-resistant and fault-tolerant decentralized peer-to-peer search engine called Unstoppable Search Engine. The architecture supports horizontal scaling across thousands of distributed nodes and employs a fault-tolerant structure for data self-organization to maintain high availability and censorship resistance.Ardoino stated that the research and development is progressing smoothly, and the complete archived data of Wikipedia has been distributed and stored across 100 distributed nodes in the testing environment, achieving millisecond-level retrieval with excellent performance.

According to Dealroom, the decentralized perpetual contract exchange in Singapore, Antarctic Exchange, has completed a $7 million financing round, with a valuation of $70 million. Investors include Valisa Capital Markets, Lucidity Capital, and Republic Crypto, as well as proprietary traders who are entering the crypto asset space for the first time.The platform targets retail derivatives traders and offers tools similar to centralized exchanges. The founding team consists of former executives from OKX, Binance, and MEXC.

Vitalik Buterin stated that recent discussions around transaction formats, including EIP-8141, the "future state" proposal, UTXO, PBT, key-controlled randomness, and recursive STARK memory pools, have helped the Ethereum community better understand the concepts of "actions" and "dependencies" in transactions. Dependencies can be processed in parallel, and some dependencies that do not require state access can be validated at the memory pool layer, potentially further compressing execution and data costs through STARK.Vitalik believes that Ethereum's future scalability needs to strike a balance between a dynamically flexible execution model and a more easily statically analyzable constrained model, providing lower gas costs for transactions and state access that can be statically analyzed. If EIP-8141 is designed properly, it will not only be a milestone achievement in a decade of account abstraction work but also prepare for decentralized-friendly large-scale scalability in the coming years.

Vitalik posted on the X platform, stating that recent research on transaction formats has led to a clearer understanding of "actions" and "dependencies" in Ethereum transactions, both of which can be optimized separately; signatures, UTXO's Merkle proofs, and ZK-SNARK or STARK belong to dependencies, while the call to send ETH belongs to actions.Dependencies can be processed in parallel, with state-related dependencies handled by the memory pool, while pure dependencies can be processed once at the memory pool layer and may be replaced by STARK proofs, thereby reducing execution and data processing. Vitalik pointed out that Ethereum's current scaling strategy needs to clearly distinguish between dynamic flexibility and static analyzability, with the latter achieving lower Gas costs; based on transaction volume, over 90% of Ethereum activities do not require dynamic flexibility. The EIP-8141 transaction type is developing towards a universal and minimalist call list, with new state types, recursive STARK memory pools, and key-controlled nonces also belonging to this direction.

According to on-chain analyst Yu Jin's monitoring, the TRUMP token team address transferred 11.01 million TRUMP two days ago, worth 26.65 million USD; this morning, another 800,000 TRUMP, worth 1.74 million USD, was transferred to Binance.Currently, this address has transferred a total of 2.8 million TRUMP to centralized exchanges in one day, worth 6.52 million USD.

The cryptocurrency exchange platform Binance saw an inflow of funds reaching $15.7 billion in August, setting a monthly record and accounting for over 75% of the total inflow to all centralized exchanges. During the same period, the price of Bitcoin rose over 20%, surpassing $80,000, driving an increase in exchange trading volume.Binance Research pointed out that $15.7 billion is approximately 8.4 times that of the second-largest exchange by positive inflow, with Bybit and OKX ranking among the three exchanges with concentrated liquidity. The inflow to smaller platforms is more dispersed. Additionally, Binance faces accusations in the European Union for accepting local users without obtaining a license under the Markets in Crypto-Assets Regulation (MiCA).

At the 2026 Wyoming Blockchain Conference, Zhao Changpeng stated that Trump mentioned Hyperliquid and that Mike Selig, the chairman of the Commodity Futures Trading Commission (CFTC), will seek a path for the platform to enter the U.S. market.Zhao Changpeng believes that if this progress can be realized, it will be a significant boon for the entire cryptocurrency industry. Zhao stated that the outside world tends to view him as a supporter of centralized trading platforms due to his holdings in Binance, but the fundamental reason he entered the cryptocurrency industry is his belief in decentralization.He pointed out that some users choose Hyperliquid because the platform can be used through wallets without the need for traditional accounts and KYC processes; if Hyperliquid can operate in the U.S. in a compliant manner, it will open up space for perpetual contracts and more decentralized services to enter the U.S. market.He believes this is not only related to Hyperliquid itself. "Hyperliquid is just the tip of the iceberg; once this tip enters, other projects can follow suit." Related developments will benefit more decentralized products and their portfolio companies, and will also bring more liquidity to international centralized trading platforms, allowing U.S. users to obtain more competitive prices when buying and selling crypto assets.Zhao Changpeng stated that the current cryptocurrency market is far from saturated, so competition between platforms is not the main issue. Hyperliquid's entry into the U.S. will not only benefit itself but will also expand the market size of the entire industry, "what is beneficial for them will also be beneficial for us."