Tokenized Stocks Hit DeFi while BTC and ETH Hold Strong and Altcoins Finally Break Out
The financial rails of the future kept getting built this week, and the market barely flinched at the bad news. Bitget lost $387.5M in the biggest exchange hack of 2026 and covered every dollar from its own fund. Tokenized stocks went from SEC approval to DeFi collateral in three days, Canadian banks picked deposit tokens over stablecoins, and (some) altcoins and L1 tokens broke out of a months-long downtrend.
Under the headlines, the tape is shifting. Bitcoin is cooling off after tagging $87K, ETH is holding its channel with a bit more momentum than BTC, and the altcoin market outside the top 10 is leading the way. ETF inflows faded into Friday, but every institution in Bitwise’s latest survey held its crypto exposure through the last 50% drawdown. Regulators kept moving too, from the Fed’s first GENIUS Act rules to the SEC clearing staking receipt tokens. The charts and levels are below.
Plus two interviews: EMQQ Global’s Kevin Carter on why China is now favored to win the AI race, and The Graph co-founder Yaniv Tal on the four years he spent building Geo to fix social media, and on Geo Debates, the new Web3 platform that just launched this week.
📰 TOP STORIES
Bitget loses $387.5M in the biggest exchange hack of 2026, and covers all of it. Attackers used stolen internal credentials to send fake withdrawals; no keys or cold storage were touched. Its $464M protection fund covers every user, and withdrawals return in phases through Oct 2. CCS →
Tokenized stocks went from SEC-approved to DeFi collateral in 72 hours. Days after the SEC’s five-year exemption, Aave took Coinbase stock tokens as collateral and Ethena began backing USDe with Binance’s bStocks. CCS → · Aave → · Ethena →
Banks are choosing deposit tokens over stablecoins. Canada’s six largest banks will build a shared tokenized deposit system, and Quant is building the interoperability layer for The Clearing House’s US network. BlockWest → · CCS →
Ethereum’s exchange supply hits a record low. Just 3.49% of all ETH sits on exchanges as staking, DeFi and treasury buyers lock up the float. BlockWest →
🎙️ THIS WEEK’S INTERVIEW
China Is Now Favored to Win AI Outright, Says This Fund Manager
EMQQ Global founder Kevin T. Carter makes the case that the gap between US and Chinese AI is closing fast. He walks through his two China AI ETFs, TGRZ and AICH, why open models are catching up, and the IPO paths for DeepSeek and Moonshot.
Episode page on CCS → · Read the BlockWest writeup → ·
The Graph’s co-founder went quiet for four years to fix web3 social
Yaniv Tal stepped away from Edge & Node in 2022 and self-funded Geo through the entire bear market. What he came back with is Geo Debates, the first consumer product built on a knowledge graph: two people who disagree on a specific claim argue it on video in timed turns, the audience votes, and every claim stays on the record where it can be challenged later. Ashton asked him why every decentralized social app so far has failed, why he refuses to let people bet on matters of fact, and what ground truth means for AI when nobody knows which sources are right.
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Missed a conversation, or want to see everything we’ve recorded with a project you follow? Start here.
📊 MARKET ANALYSIS — BITCOIN
Bitcoin ran into an AI Take Profit signal near the $87.4K high and has spent the last few sessions cooling off, now sitting around $83.8K on the 6H. The pullback has brought price right back to the slow EMA near $82.4K to $82.5K, the line that has held every dip since the AI Buy at $75.7K. The dashboard is split by timeframe: 1W and 1D still bullish, 3H bearish, 45M and 15M bullish, so the multi-timeframe read lands at Neutral. RSI has reset from overbought back to 50, and Smart Money is still IN. This reads as a higher-timeframe uptrend taking a breather, not a top, as long as that EMA holds.
My bias: Bullish on the weekly and daily, neutral short term.
What I’m watching: A 6H close back above $84.1K to reopen $86.6K and the $87.4K high. Lose $82.4K and the next shelf is $79.1K.
Support: $82.4K / $79.1K / $75.7K | Resistance: $84.1K / $86.6K / $87.4K, then $92.4K
Signals powered by EngineeringRobo AI
📊 MARKET ANALYSIS — ETHEREUM
ETH is still trading inside the rising channel that has guided it since the breakout, sitting at $2,683 after an AI Take Profit printed near the $2,807 high. Price is chopping just under the $2,685 to $2,715 resistance band, with the slow EMA rising underneath at $2,639. Unlike Bitcoin, ETH’s multi-timeframe read is still Bullish: 1W, 1D and 45M bullish, 3H bearish, 15M neutral. RSI is a neutral 51 and Smart Money is IN. The backdrop is the record-low exchange supply we covered on BlockWest this week: less ETH sitting on exchanges means less available to sell when demand steps back in.
My bias: Bullish, trend intact while the channel holds.
What I’m watching: A reclaim of $2,715 for a retest of $2,807, then $3,000. A 6H close under $2,639 puts the $2,500 channel floor and $2,419 in play.
Support: $2,639 / $2,500 / $2,419 | Resistance: $2,715 / $2,807 / $3,000
Signals powered by EngineeringRobo AI
📊 MARKET ANALYSIS — ALTCOINS (OTHERS)
OTHERS (total market cap excluding the top 10) broke a months-long downtrend and ran from the $193B AI Buy to $247.5B. It is the strongest board of the three, but RSI near 64 says it is stretched.
My bias: Bullish, but extended short term. A retest before continuation would be healthy.
What I’m watching: Holding above $241B keeps the breakout clean. A pullback to the $220.8B breakout trendline would be the retest to buy. Above, $260B and $280B, with $338.5B the range high.
Support: $241.2B / $220.8B / $196B | Resistance: $260B / $280B / $338.5B
Signals powered by EngineeringRobo AI
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The Original DePIN Protocol — Now with Its Own Layer One
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🔥 WEEKLY SIGNAL RECAP
Filtered for signal, not noise, grouped by theme.
🏛️ Regulation & Policy
⭐⭐⭐ Fed proposes reserve and capital rules for GENIUS Act stablecoins. A 60-day comment period on two rules for bank-issued payment stablecoins, the same week the Trump administration weighs an international push for dollar stablecoins to support Treasury demand. CCS on the Fed → · CCS on the White House plan →
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SEC says staking receipt tokens are not securities when they work as proof of deposit. CCS →
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ECB-led central banks push to drop MiCA’s 60% stablecoin reserve rule. CCS →
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DOJ probes whether Binance knowingly processed Iran-linked trades. CCS →
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Prediction markets take two legal hits. New York seeks triple damages from Polymarket over underage trading, and the Sixth Circuit blocks Kalshi in Ohio and Tennessee. Polymarket → · Kalshi →
🏦 Institutions & Tokenization
⭐⭐⭐ **Blockchain.com routes 44 million users to NYSE’s tokenized securities venue.** MOU signed Wednesday. CCS →
⭐⭐⭐ Ripple plugs RLUSD into BlackRock and VanEck tokenized treasury funds. CCS →
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Infosys standardizes six Chainlink products across banking infrastructure serving 1.7 billion accounts. CCS →
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Centrifuge tokenizes a New York Life bond strategy on Avalanche. CCS →
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Hedera-based alliance targets 27M hectares of Latin American carbon land across Peru, Colombia, Bolivia and Brazil. CCS →
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Hashed anchors a $300M private credit fund that lends to crypto firms on cash flow, not collateral. BlockWest →
💵 Stablecoins & Payments
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Circle launches StableFX, 24/7 stablecoin FX settlement on its Arc chain. CCS →
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Tether is bringing USDT back to Bitcoin via RGB, and Morgan Stanley is in the room. CCS →
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BlackRock says AI agents paying in stablecoins could be crypto’s next demand wave. CCS →
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TRON passes $30 trillion in cumulative settlement with $94B of USDT on the network. CCS →
📈 Markets & Flows
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Bitcoin ETF inflows fell 87% from Monday’s peak to Friday. CCS →
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All 15 institutions in a Bitwise survey kept their crypto exposure through a 50% bitcoin drawdown. CCS →
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Treasury buyers keep stacking. Strategy adds $75.7M in bitcoin and pauses ATM sales, and Tom Lee’s Bitmine adds $74M in ETH and calls the bull market “underway.” Strategy → · Bitmine →
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CoinMarketCap acquires CoinGlass, putting derivatives data in front of 115M monthly users. CCS →
🔐 Tech & Security
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Solana pushes Alpenglow consensus to testnet, targeting roughly 99% faster finality. CCS →
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Researchers publish a way to get shielded Bitcoin transfers without a soft fork. CCS →
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Payy halts its whole network after a bridge exploit drains $1.83M USDC. CCS →
🤖 AI
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Anthropic commits $11.6B to Akamai over seven years. BlockWest →
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An AI agent allegedly hijacked a government site, and XYO’s Markus Levin says it is a data trust problem. BlockWest →
✍️ ASHTON’S TAKE
The Biggest Hack of the Year Was a Non-Event This Time. The Industry Keeps Growing
$387 million walked out of Bitget this week. North Korea, most likely. Just think about how much of a non-event this was compared to previous hacks. Mt. Gox took down the industry. FTX took down a cycle. Bybit lost $1.5 billion last year and Bitcoin sold off for weeks. This week a top-six exchange lost nine figures and BGB was down 4%. Bitcoin and Ethereum did not even notice.
Is this what maturity looks like? Bitget had a $464 million fund sitting there for exactly this day. Users lost nothing, so the insurance model worked.
Meanwhile, the SEC opened the door to tokenized stocks on Tuesday, and by Friday Aave and Ethena had already walked through it. Regulators approve and builders ship the same week. That is an industry that has stopped asking permission to exist.
The rails are getting built faster than the headlines can keep up. Stay long the builders.
Ashton Addison
CEO, Crypto Coin Show & BlockWest
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