JPMorgan’s First XRP Transfer and the $293 Million Hacker Who Got Liquidated

JPMorgan and Mastercard just completed the first cross-border transfer of tokenized US Treasury bonds via the XRP Ledger. A hacker who stole $293 million from KelpDAO got liquidated on Aave after borrowing $123 million. Tokenized Treasury bonds on Ethereum hit $8 billion, doubling in six months. Meanwhile, Coinbase reported $202 billion in volume, but revenue fell 31%, and they’re laying off 14% of staff; Morgan Stanley launched crypto trading on E*Trade, and Tether froze $515 million across 371 addresses. Here’s a clear look at the most important crypto and tech stories making headlines.

JPMorgan and Mastercard Complete First XRP Ledger Treasury Transfer

JPMorgan and Mastercard conducted the first cross-border transfer of tokenized US Treasury bonds via the XRP Ledger. The transaction demonstrates how traditional financial institutions are using blockchain for securities settlement.

When JPMorgan and Mastercard use XRP Ledger to settle Treasury bonds, they’re validating blockchain for traditional finance at the highest level. These aren’t crypto companies experimenting. These are Wall Street giants moving real government securities on a public blockchain.

KelpDAO Hacker’s $123 Million Positions Liquidated After $293 Million Exploit

A hacker behind the $293 million KelpDAO exploit had their positions liquidated on Aave after borrowing $123 million. The liquidation shows how DeFi protocols can fight back against attackers through normal market mechanics.

Someone stole $293 million from KelpDAO, then used the stolen funds as collateral on Aave to borrow $123 million more. When the collateral value dropped, Aave automatically liquidated the positions. The hacker got greedy and DeFi’s own rules caught them.

Tokenized US Treasury Bonds Hit $8 Billion on Ethereum

The market capitalization of tokenized US Treasury bonds on Ethereum reached a historic high of $8 billion, doubling in the past six months. The growth shows institutions treating blockchain as infrastructure for traditional securities.

Eight billion dollars in tokenized Treasury bonds means traditional finance is putting real money into blockchain-based securities. This doubled in six months. When government bonds move onto Ethereum at this scale, blockchain is becoming the new settlement layer for traditional assets.

Coinbase Posts $202 Billion Volume But Revenue Falls 31%, Lays Off 14%

Coinbase reported a record market share of 8.6% with trading volume of $202 billion, but revenues fell by 31% to $1.41 billion. The company is laying off 14% of staff in response to financial pressures.

Coinbase trading $202 billion but making 31% less revenue shows the brutal economics of crypto exchanges. Volume is up. Market share is up. But revenue is down because trading fees keep dropping. Now they’re cutting 14% of staff to survive lower margins.

Core Scientific Sold $208 Million in Bitcoin Pivoting to AI

Mining company Core Scientific sold $208 million worth of Bitcoin in Q1 2026 as it pivots towards AI infrastructure. The sale demonstrates miners diversifying away from cryptocurrency as margins compress.

Core Scientific dumping $208 million in Bitcoin to fund an AI pivot shows how tough mining has become. After the halving, revenue dropped 50% but costs stayed the same. Some miners are selling everything and using their infrastructure for AI training instead.

Morgan Stanley Launches Crypto Trading on E*Trade Platform

Morgan Stanley launched crypto trading on the E*Trade platform, initially offering Bitcoin and Ethereum. The move brings cryptocurrency to millions of retail investors through a mainstream brokerage.

Morgan Stanley putting crypto on E*Trade means millions of retail investors can now buy Bitcoin and Ethereum alongside stocks. When major brokerages add crypto, they’re telling customers it belongs in investment portfolios next to traditional assets.

Tether Froze $515 Million USDT Across 371 Addresses

Tether froze approximately $515 million USDT across 371 addresses. The mass freezing demonstrates centralized control over the largest stablecoin despite running on decentralized blockchains.

Tether freezing over half a billion dollars across 371 addresses shows the power stablecoin issuers have. These addresses probably held stolen or sanctioned funds. Tether can lock them with a single command. This is the tradeoff with centralized stablecoins. They work reliably, but the issuer controls everything.

Google and Solana Launch AI Agent Payment System

Google and Solana launched a system allowing AI agents to autonomously find APIs and handle payments without human intervention. The integration enables fully automated AI-to-AI commerce.

AI agents that can find services, negotiate prices, and pay automatically change how software works. When Google and Solana build this infrastructure, they’re creating an economy where AIs transact with each other without humans in the loop.

Vitalik Proposes Data Shelves for Ethereum Scalability

Vitalik Buterin proposed separate “shelves” for different types of data on Ethereum to improve scalability and efficiency. The technical upgrade would optimize how the network stores and processes information.

Vitalik wants different data types stored separately on Ethereum so the network can handle each one more efficiently. Transaction data needs different treatment than smart contract code or rollup proofs. Separate shelves mean better performance for each use case.

Sequans Sells 1,025 BTC to Repay Debt as Revenue Drops 25%

The company Sequans sold 1,025 BTC to repay debts and buy back shares amid a 25% drop in revenue. The sale shows companies liquidating Bitcoin holdings to cover operational shortfalls.

Sequans selling over 1,000 Bitcoin because revenue dropped 25% shows what happens when companies hold crypto but face cash crunches. Bitcoin becomes the emergency fund they tap when traditional business struggles. This creates selling pressure from corporate treasuries.

About Paybis

Paybis is a global cryptocurrency exchange platform that provides fast, secure, and user-friendly digital asset transactions. Founded in 2014, the company specializes in fiat-to-crypto and crypto-to-fiat conversions, enabling users to buy, sell, and swap Bitcoin, Ethereum, and other cryptocurrencies using various payment methods, including credit/debit cards, bank transfers, and e-wallets.

With a strong focus on security and compliance, Paybis is registered with regulatory authorities and implements industry-leading AML/KYC procedures. The platform is known for its intuitive interface, 24/7 customer support, and competitive exchange rates, making it a preferred choice for both beginners and experienced traders.

Wrapping Up

These stories show traditional finance fully embracing blockchain while crypto companies struggle financially. JPMorgan settles Treasury bonds on XRP Ledger. Morgan Stanley adds crypto to E*Trade. Tokenized bonds hit $8 billion on Ethereum. But Coinbase cuts 31% of revenue and lays off 14% of staff. Core Scientific sells $208 million in Bitcoin to pivot to AI. Companies dump Bitcoin to cover debts. The contradiction is stark. Wall Street treats blockchain as critical infrastructure while crypto-native companies fight to survive compressed margins and falling revenue.

Written by

Rem Vasilenko

Rem Vasilenko is a Growth Operations Manager at Paybis. With a keen interest in FinTech, Rem brings a unique perspective to the evolving digital finance landscape. He combines his passion for FinTech with his marketing and business skills to drive innovative strategies. Find him on LinkedIn.