Abstract to wind down operations and close on Dec. 15
Ethereum layer-2 network Abstract said it will gradually cease operations after nearly three years, with the network scheduled to shut down on Dec. 15, 2026. The team said users who do not bridge assets off the chain before the deadline will no longer be able to access those funds.
Users holding assets on Abstract can currently move them through the project’s Migration Hub or its Native Bridge, which carries an approximately three-hour delay. Abstract added that its engineering and ecosystem teams will assist projects in the network as they migrate to other chains.
On the reason for the shutdown, the team said major changes in the industry had made the operating model of an independent blockchain focused only on consumer crypto difficult to sustain. It cited a constrained DeFi ecosystem, limited on-chain liquidity, low institutional participation, and a smaller budget than rivals as factors behind stalled growth, leading to the decision to end operations after what it described as a careful review.
SpaceX seeks up to $40 billion to buy Nvidia chips, FT reports
According to Jinshi, citing the Financial Times, SpaceX is planning a new funding round led by Apollo and is aiming to raise as much as $40 billion. The terms of the financing are still being worked out.
The report said the capital would mainly be used for large-scale purchases of high-performance computing chips from Nvidia. The procurement plan is intended to expand the company’s underlying compute infrastructure for future AI model training and supercomputing demand.
FT: Hyperliquid is based in Singapore, MAS says platform is outside its remit
The Financial Times reported that the Monetary Authority of Singapore does not consider decentralized trading platform Hyperliquid to fall under its regulatory jurisdiction and said it was unaware whether the platform is regulated in any major jurisdiction.
Hyperliquid Labs responded that Hyperliquid is currently unregulated and has never claimed to be licensed or authorized by MAS. The company also confirmed that its registered headquarters is in Singapore, and recent job postings indicate it has an office there. The report said products tied to Hyperliquid allow users to trade price movements in crypto, crude oil, and stocks.
U.S. government-linked addresses moved $165 million in 24 hours
According to Ember monitoring, addresses tied to the U.S. government moved crypto assets worth $165 million over the past 24 hours. Of that total, 1,583.8 BTC, worth about $134 million, was sent to Coinbase Prime.
The tracker said that after moving $103 million earlier in the day, the address transferred another 750.2 WBTC to Coinbase Prime 15 minutes before the update, worth about $62.34 million.
Founders Fund leads $5 million Anvil token purchase
CoinDesk reported that Peter Thiel-backed Founders Fund led a $5 million token purchase in crypto collateral protocol Anvil. Pantera Capital, Theta Blockchain Ventures, Bullish, and Protoscale Capital also joined the ANVL governance token purchase.
Anvil said the token has a total supply of 100 billion and a circulating supply of 80 billion. The tokens sold in this deal came from existing treasury reserves rather than newly issued supply.
Built on Ethereum, the protocol is designed to support digital assets as collateral for financial commitments such as payments and credit. Its main product is an on-chain letter of credit that allows a collateral provider to guarantee payment without borrowing or paying interest. Anvil Research Labs, the development entity behind the protocol, also introduced an SDK to help companies integrate the protocol without writing blockchain code.
Pump.fun sells another 102,495 SOL
Lookonchain said Pump.fun sold another 102,495 SOL eight hours ago, worth roughly $12.41 million.
Cumulative sales now stand at 5,347,925 SOL, worth about $861.47 million in total, with an average sale price of $161, according to the same update.
Coinbase completes Deribit integration and plans Coinbase Pro relaunch by year-end
The Block reported that Coinbase plans to relaunch Coinbase Pro before the end of this year and has completed the integration of Deribit, the crypto options exchange it acquired last year, creating Coinbase Global Exchange.
Coinbase said the integration will connect its futures commission merchant, Coinbase Financial Markets, with U.S. and global crypto derivatives markets to create a single regulated liquidity pool. The company said that, under guidance issued by the U.S. Commodity Futures Trading Commission in May, eligible U.S. institutional clients will be able to trade options and perpetual contracts through a compliant channel, products that had previously been available only in offshore markets.
Eligible non-U.S. traders are expected to gain access to options trading in the coming weeks, while U.S. retail traders are expected to be allowed in later this year. The rebuilt Coinbase Pro will support spot, futures, perpetuals, options, and stock trading, and Coinbase said it plans to introduce spot margin trading with leverage of up to 10x.
Robinhood adds $25 million in BTC to its balance sheet
The Block also reported that Robinhood has added $25 million worth of bitcoin to its balance sheet.
Solana silver tokenization project Dominion shuts down
According to an official announcement, Dominion, a real-world asset silver tokenization project in the Solana ecosystem, is shutting down.
The team said a security breach in September led to a large amount of SILV tokens being leaked and sold, triggering a collapse in liquidity, operating capital losses, and damage to market structure. Dominion said it could not achieve a sustainable recovery.
After the attack, the team said it used most of its remaining liquid funds for a compensation plan that allowed eligible pre-attack holders to exit at $63 per SILV. After review, Dominion concluded that the capital required to restore liquidity and rebuild the market exceeded the project’s remaining resources, leading to the decision to cease operations.
