finance

According to CoinDesk, the tokenized asset company Ondo Finance is embroiled in a corporate control dispute following the death of founder Nathan Allman this year. The estate has filed a lawsuit in the Delaware Chancery Court, accusing former president and current CEO Ian De Bode of improperly attempting to seize control of the company while the estate certification process is not yet complete and the company's voting rights are temporarily suspended. The three legal documents request the judge to determine who legally controls Ondo Finance and to prohibit the company from taking significant actions until the governance dispute is resolved.According to the complaint, Nathan Allman was the CEO, sole director, and controlling shareholder of Ondo at the time of his death, and his voting rights could not be exercised until his mother, Kathleen Allman, was formally appointed as the estate representative through the Hawaiian probate process on June 26. The estate alleges that De Bode claimed to automatically become CEO and appointed himself as the sole director before this, taking actions such as hiring consultants and approving performance grants.After obtaining the voting rights, Kathleen Allman voted to remove De Bode from all positions and appointed herself as chairwoman and interim CEO during the board meeting on July 24. De Bode responded that he regretted the lawsuit filed by Allman, stating that her claims lack basis, and that the company still has the support of major investors and key stakeholders such as the Ondo Foundation. The court has not yet ruled on the related allegations, and the aforementioned documents only reflect the statements of the estate.

According to CoinDesk, Ondo Finance announced the appointment of former Blockchain.com Chief Financial Officer Adam Schlisman as Chief Financial Officer. Schlisman previously worked at Monashee Investment Management.Ondo stated that this appointment aims to support the expansion of its tokenized assets and on-chain capital markets business. The company, founded by former Goldman Sachs executives, is currently one of the larger tokenization platforms for real-world assets, with products covering blockchain-based U.S. Treasury bonds and stocks.

The Hong Kong Securities and Futures Commission has announced that BiFinance has been listed as a suspicious virtual asset trading platform. The Hong Kong Securities and Futures Commission stated that the company claims to be licensed in Hong Kong and asserts that it offers digital asset trading services such as spot, futures, and wealth management on its website, as well as other services related to digital assets. However, the company is not licensed by the Securities and Futures Commission and is suspected of conducting unlicensed activities.

According to Jinshi reports, the Japanese Ministry of Finance coordinated a yen buying intervention with the United States last Friday, with both parties jointly purchasing yen.

Tom Lee, Chairman of the Ethereum treasury company Bitmine, posted on the X platform stating that more and more public institutions and major organizations are stepping up to support the CLARITY Act. If the act fails to pass smoothly, the United States may lose its leading edge in the digital finance sector and hand over dominance to other countries.

According to Jinshi reports, Japanese Finance Minister Katsuyuki Kitagawa will announce on Monday that Tokyo and Washington have taken joint action to curb the depreciation of the yen.The joint intervention by the US and Japan regarding the yen is still ongoing.

According to Jinshi, the Japanese Ministry of Finance stated on the social media platform X that Japan's monetary authorities have multiple tools to meet market liquidity needs, including the discretionary use of the Federal Reserve's "Foreign and International Monetary Authorities (FIMA)" standing repo facility, which accepts U.S. Treasury securities as collateral to provide temporary U.S. dollar liquidity. The Ministry of Finance stated, "We are always ready to utilize available tools when necessary to support the orderly functioning of the market."

The tokenized asset company Ondo Finance is evaluating a potential acquisition deal, with a valuation range of $250 million to $500 million. According to insiders, the company has not yet appointed formal advisors and is considering expansion through mergers and acquisitions.In 2026, trading activity in the cryptocurrency sector remains active, with tokenization and institutional infrastructure being the acquisition directions of interest for companies seeking to scale.

Hyperscale Data GPUS announced that it has sold 100 bitcoins to fund the construction of its AI data center in Michigan. CEO William Horne stated that this is "converting one balance sheet asset into another" and clarified that his confidence in BTC has not changed. Its Bitcoin 100 ranking is 44th.

The founder of TRON, Justin Sun, delivered a video keynote speech at Malaysia Blockchain Week 2026. He stated that DeFi, TradFi, and AI are accelerating their integration through the same assets, payment channels, and user groups. The future of finance will be a connected system operated collaboratively by institutions, open blockchain networks, and AI, and the infrastructure capabilities of TRON will become an important cornerstone supporting this transformation.Justin Sun pointed out that the scale and efficiency of TRON make it naturally suitable for AI agent payment scenarios. The B.AI and Bank of AI within the ecosystem have already endowed AI agents with independent identities and autonomous trading capabilities, with the number of B.AI users exceeding 2 million. He also responded to industry compliance concerns by highlighting the achievement of T3 FCU freezing approximately $450 million in illegal assets, stating that TRON's goal is to build a bridge between humanity and AI, local markets and global liquidity, providing open infrastructure for the next generation of value flow and inclusive finance.Malaysia Blockchain Week 2026 was held from July 29 to 30 at the Kuala Lumpur World Trade Center and is one of the most anticipated Web3 events in Southeast Asia. This event brought together global policymakers, industry leaders, developers, and investors to discuss the future evolution of blockchain, digital assets, and emerging technologies.

According to ChianCatcher news, the stablecoin credit protocol Ebisu Finance announced today that it has decided to gradually shut down the project. Users need to quickly close remaining Troves, withdraw Stability Pool deposits, and ebUSD DEX liquidity. The minting of ebUSD has been suspended, and the front end will be deprecated in 3 months on October 30.This protocol is a fork of Liquity V2, supporting new collateral types and adjustable risk parameters. It has been running for over a year and has passed two audits. Ebisu aims to provide fixed-rate, open-term credit through ebUSD, with collateral including blue-chip yield-bearing assets such as LRTs, but the team has failed to expand ebUSD liquidity to support meaningful lending volumes.The project explored multiple solutions, including liquidity optimization, multi-chain expansion, structured products, and acquisition opportunities, but none addressed the core bottleneck of the CDP protocol: stablecoin liquidity and sustainable demand. The team stated that there are no plans for the launch or airdrop of EBISU tokens and thanked supporters, inviting other teams to contact them for permission to use their tech stack.

According to Jinshi reports, the South Korean Ministry of Finance stated that South Korea is committed to taking more measures to stabilize the stock market, will take steps to limit leveraged ETF trading, and will restrict retail investors' exposure to leveraged ETF investments, maintaining a 24-hour stock market monitoring system.

South Korean Finance Minister Choo Kyung-ho apologized for launching a single stock leveraged ETF without careful consideration. According to Gate market data, on Wednesday, the South Korean KOSPI index experienced turbulence, dropping as much as 12% during the day, and ultimately narrowing its decline to about 8%. Choo Kyung-ho stated that the government is studying market stabilization measures and may further adjust the relevant regulations for single stock leveraged ETFs to respond to market fluctuations.

The tokenized asset issuer Ondo Finance has abandoned its traditional Layer 1 blockchain plans and launched the Ondo Network instead. The platform is positioned as a trading network catering to institutional needs, designed to support private and high-speed trade execution.The first application of Ondo Network, Ondo Perps, will allow users to trade perpetual futures using tokenized assets as collateral, separating fast and private trade execution from public chain settlement. Ondo Finance has issued tokenized U.S. Treasury bonds and stocks, and is advancing broader trading infrastructure in the context of rising interest in tokenization and 24/7 markets on Wall Street.

According to Cointelegraph, Tether's gold-backed token XAUt has received Shariah certification from Amanah Advisors, confirming that its structure complies with Islamic financial principles— including full backing by physical gold, no interest and leverage, and transparent reserves. Each XAUt represents one ounce of physical gold stored in Swiss vaults.This certification provides Tether with a clearer path to promote XAUt to Islamic financial institutions and investors, and is expected to drive adoption in the Gulf Cooperation Council, South Asia, and parts of Africa. XAUt is one of the largest tokenized gold products in the crypto market, with on-chain asset value increasing from approximately $700 million in July 2025 to about $2.5 billion.

According to Cointelegraph, the cross-chain bridging and atomic swap protocol Garden Finance temporarily took its application offline after detecting abnormal activity on July 27. Blockchain security company Blockaid revealed that attackers exploited a vulnerability in Garden Finance's Hash Time-Locked Contract (HTLC) to steal approximately $450,000 USDT across four networks: Ethereum, Base, Arbitrum, and BNB Smart Chain.

Chairman of Bitmine, Tom Lee, posted on the X platform stating that Ethereum is expected to become the most widely used settlement layer for finance and AI agents, "ETH is the on-chain currency."In addition, in the interview content he shared, Tom Lee also responded to the market's concern that Ethereum is being eroded by Layer 2. He expressed disagreement and pointed out that although Layer 2 networks have attracted tens of millions of real-world users into the on-chain ecosystem, the Ethereum mainnet is still further consolidating its position as the primary economic settlement center, with the Fast Confirmation mechanism able to reduce transfer friction by about 98%.

According to FinanceFeeds, the Indian Parliament's Standing Committee on Finance has recommended that the government establish a temporary regulatory mechanism led by recognized Self-Regulatory Organizations (SROs) to oversee the domestic cryptocurrency and virtual digital asset market. The committee warned that the lack of a clear legal framework exposes millions of retail investors to operational, custodial, and fraud risks.The SRO will implement standardized codes of conduct under the direct supervision of the Reserve Bank of India or the Securities and Exchange Board of India, covering consumer protection, platform transparency, and token disclosure standards, and will be responsible for auditing exchange reserves, mandating the segregation of customer funds from corporate funds, and establishing user complaint handling channels. The committee emphasized that the temporary SRO must operate under strict oversight from the central bank or the securities regulator to address macroeconomic risks such as cross-border capital flows, dollarization of stablecoins, tax evasion, and violations of foreign exchange management laws.