ARK Invest research director Lorenzo Valente said Ethereum is receiving only a tiny share of the economics generated by Robinhood Chain, despite serving as its settlement layer. According to figures he cited, Robinhood Chain has produced about $816,000 in total revenue since launch. Of that amount, Arbitrum, acting as the middleware provider, takes 10%, or roughly $80,000, while Ethereum has received just $1,538, equal to around 0.15%. Valente said the profit split across the three parties is about 89% for Robinhood, 10% for Arbitrum, and 0.15% for Ethereum. He argued that the interpretation depends on how ETH is viewed: if ETH is treated as money, Robinhood building on Ethereum is a bullish signal; if ETH is treated as a cash-flow-generating asset, the setup is bearish. He also said Robinhood chose Ethereum for its technical strength and customization needs rather than using a single-layer-1 chain such as Solana or Sui. In his view, the market is not pricing Ethereum’s settlement layer correctly, and a fairer split would be 75% for Robinhood, 10% for Arbitrum, and 15% for Ethereum.

Jito has unveiled governance proposal JIP-38, setting out a hard value-capture rule for revenue tied to its newly launched trading platform, JTX. Under the plan, all of the DAO’s share of JTX revenue — defined as 80% of platform fees — would be used for programmatic open-market buybacks of JTO, with all purchased tokens permanently burned. The commitment would run from JTX’s launch through at least the fourth quarter of 2027, when token holders would revisit the arrangement through governance. The proposal also formalizes a broader token-centric revenue framework. Jito said 20% of JTX fees would be retained for platform reinvestment and development, while other major network revenue streams, including JitoSOL-related fees, BAM income and Block Engine revenue, would flow to the DAO and remain subject to JTO holder votes. The move comes as Jito expands from core Solana infrastructure into trading applications and as JitoSOL’s staked SOL has fallen from 18 million in June 2025 to below 10 million, according to the project’s website cited in the source article.

A BlockTempo report says BitMEX remains central to the structure of modern crypto derivatives because the exchange introduced several mechanisms that are now standard across the market: perpetual swaps, funding rates, liquidation engines and insurance fund design. The article says perpetual contracts accounted for about 78% of the crypto derivatives market’s $86 trillion trading volume in 2025, with BitMEX’s system running continuously since 2016. The report also highlights BitMEX’s inverse contracts as a source of persistent pricing differences versus USDT- and USDC-settled linear perpetuals on larger venues such as Binance, OKX and Hyperliquid. According to the piece, BitMEX’s inverse contracts have maintained roughly a 10% annualized positive funding bias since 2016, creating cross-exchange, delta-neutral funding capture opportunities. It points to examples from the first half of 2025, when an unlevered strategy that went long on linear-perpetual venues and short on BitMEX generated about 15.6% annualized delta-neutral returns for SOL and about 15.7% for AVAX. The report also cites BitMEX’s insurance fund performance during an October 2025 flash crash and notes that the exchange is now working on multi-asset margining and institutional self-custody integrations for higher-volume traders.

A TechFlowPost translation of a Prof G Media discussion argues that SpaceX’s post-listing research coverage says as much about Wall Street incentives as it does about the company itself. After joining the Nasdaq-100 under a fast-track rule change, SpaceX received 31 buy ratings from 32 analysts, while the lone sell came from independent research firm CFRA. Even so, the stock fell 12% last week and is down 36% from its peak. The piece points to long-running optimism in sell-side research, especially when banks have underwriting ties to the companies they cover. It highlights Morgan Stanley’s $300 target price, alongside a $75 bear case and $600 bull case, as an example of analysis that offers little practical guidance. The article also notes that a 2003 U.S. Securities and Exchange Commission rule designed to separate research from investment banking was terminated seven months ago, and cites former SEC chair Arthur Levitt’s warning about the risks. Beyond SpaceX, the article links the current mood shift to crypto and housing. It says the crypto market has lost more than half its value over the past eight months, with $8 billion leaving Bitcoin ETFs in the past eight weeks, while AI has taken over as the market’s new fascination. It also flags record U.S. home prices and a historic low in first-time buyers, arguing that assumptions of permanently rising prices shape behavior in both housing and speculative assets.

Tokenized assets became the largest listing category on major centralized crypto exchanges in the first half of 2026, according to CryptoRank, accounting for nearly 20% of new listings versus less than 7% in 2025. The shift comes as U.S. retail demand for equities has weakened: VandaTrack said net stock buying over the past month fell to $13 billion, the lowest since the early 2020 pandemic period, with single-stock buying down 71% to $3.2 billion. At the same time, trading tied to tokenized real-world assets is expanding quickly on crypto venues. CoinDesk exchange data showed RWA perpetual futures volume on centralized exchanges climbed 57% in June to a record $311 billion, with Binance handling $245 billion, or 78.6% of the market. RWA.xyz said the tokenized stock market grew more than 470% over the past year to about $1.87 billion, while monthly transfer volume reached $8.4 billion. The report argues that exchanges are no longer focused mainly on meme coins and gaming tokens. Instead, they are adding stock-linked, commodity-linked and other tokenized financial products, offering 24/7 trading, fractional access and stablecoin settlement on a single platform, even though these instruments often do not provide direct shareholder rights and remain restricted in some jurisdictions.

Coinbase Chief Executive Officer Brian Armstrong said on July 13 that Base’s content-coin strategy did not work, marking the clearest admission yet that the company’s roughly year-long creator-token experiment has failed. Base had pushed the model through Zora starting in 2025 and embedded it into its wallet product, helping the network become the largest Layer 2 chain by new token issuance for a period. Armstrong wrote on X that the effort "didn't work," that the company had already pivoted earlier this year, and that "we messed up." The reversal lands hard on ZORA, the token tied to the infrastructure behind the experiment. According to the report, ZORA has dropped about 95% from its all-time high in August last year, with market capitalization shrinking from roughly $550 million to about $30 million. The report also details how Base moved away from creator rewards and social feeds toward trading and stablecoin payments, after earlier defending the economic logic of content coins. Base later said its 2025 stablecoin transaction volume exceeded $17 trillion, covering 26 local currencies and 17 countries, giving the company a clearer commercial case for shifting back toward financial infrastructure.

On-chain data shows the U.S. government transferred nearly $297 million worth of seized Bitcoin and Ether to Coinbase Prime in two transactions on Monday, prompting fresh market speculation over whether the assets are being prepared for sale. Arkham Intelligence tracked an initial transfer of about $8.8 million, followed roughly three hours later by another $288.33 million. The funds were tied to three major criminal cases involving Brian Krewson, the now-defunct exchange BTC-e, and darknet drug trafficker Ryan Farace. Even so, previous transfers of seized assets to Coinbase Prime have not always led to liquidation. Similar moves earlier this year, including transfers linked to Samourai, Alameda Research, and seized FTX-related Chainlink tokens, were not ultimately confirmed as sales. The latest transaction also comes against a backdrop of policy uncertainty. While President Donald Trump signed an executive order in March 2025 to establish a national Bitcoin strategic reserve, and lawmakers introduced a bill in May that would formalize a 20-year holding requirement, that legislation remains stuck in committee.

Bonzo Lend, a lending protocol built on Hedera, remains paused after an oracle verifier accepted a proof containing a zero signature and a zero public key, allowing one wallet to borrow roughly $9.05 million against 250 SAUCE worth only a few dollars. According to the incident review cited in the report, wallet A posted a manipulated SAUCE/wHBAR price update at 00:51 UTC, inflating the token’s value by about 12 orders of magnitude while the market price stayed near 0.2 HBAR. Eight seconds after the bad price reached onchain oracle storage, the wallet borrowed 6.63 million USDC and then 34.5 million wrapped HBAR. Bonzo said its lending contracts simply used the stored oracle price and executed under the protocol’s loan-to-value rules. A second wallet borrowed about $1 million while the abnormal price remained active, then contacted Bonzo and identified itself as a white hat responder that intended to return the funds. Bonzo said about $1 million has been recovered in its accounting, though the money has not yet been returned and the final amount is still uncertain. Supra has fixed the verifier, but Bonzo Lend, Bonzo Points, and withdrawals were still suspended as of July 13.