This article analyzes the development of internet capital markets in 2026, highlighting how the U.S. is driving structural change through regulatory breakthroughs (GENIUS Act, SEC/CFTC joint guidance) and institutional practices (J.P. Morgan, State Street conducting real transactions on Solana). Asian institutions face a strategic window that requires phased, regulation‑dependent approaches.
On-chain data shows a whale who previously held a $165 million short position closed it with a $3.277 million profit. That same night, the whale opened a new $70.76 million short position. The whale now holds short positions of 912.93 BTC and 10,000 ETH with average entry prices of $59,137 and $1,532 respectively, resulting in a floating loss of $1.418 million. This aggressive leverage strategy signals a strong bearish conviction.
This article analyzes the development of internet capital markets in 2026, highlighting U.S. regulatory breakthroughs (GENIUS Act, SEC/CFTC joint guidance) and institutional practices (J.P. Morgan, State Street conducting real transactions on Solana) that are shaping a new capital market based on public blockchains. Asian institutions are presented with a strategic window and are advised to follow a phased, regulation-mindful approach.
On-chain analyst EmberCN reported that whale Garrett Jin placed a short order for 21.73 million USD worth of ZEC at $418.9 on Hyperliquid half an hour ago. Of this, $4.93 million has been filled, with $16.8 million still pending. If fully executed, he will become the largest ZEC holder on Hyperliquid. Separately, his long position of 1,270 BTC at $76,117 is showing an unrealized loss of $20.15 million.
AscendEX (formerly Bitmax) is facing massive withdrawal anomalies, with user funds stuck in 'Initiating' status and no on-chain hash, hinting at liquidity issues. The exchange lost $78M to the Lazarus Group in 2021 and has lacked Proof of Reserves and third-party audits. This incident underscores the existential challenges for small-to-medium crypto exchanges amid tightening regulation and market concentration.
As Bitcoin prices continue to decline triggering retail panic selling, Wall Street institutions are systematically acquiring crypto financial infrastructure. Key moves include Invesco filing for a tokenized fund, Kraken in talks to acquire Aave, Circle partnering with Nomura for stablecoin cross-border settlements, and SBI acquiring Bitbank to build a full-stack financial group. These actions are driven by regulatory and technological clocks, signaling a systemic transfer of crypto infrastructure ownership from crypto natives to traditional financial institutions.
According to on-chain analyst Ember monitoring, whale Garrett Jin placed a ZEC short order worth $21.73 million at $418.9 on Hyperliquid half an hour ago. $4.93 million has been filled, with $16.8 million still pending. If fully executed, he will become the largest ZEC holder on Hyperliquid. Additionally, the whale holds 1,270 BTC long positions opened at $76,117, with an unrealized loss of $20.15 million. The large short on ZEC signals bearish sentiment, while the BTC long loss draws market attention to his overall risk exposure.
Oxium, a chain-based order-book decentralized exchange on the Sei network, has announced a gradual shutdown due to prolonged adverse market conditions that made its revenue unsustainable. The front-end interface will officially close on August 1, 2026. The platform emphasizes that user assets remain self-custodied and can be retrieved directly via smart contracts even after the interface goes offline. This article outlines the timeline, explores the reasons behind the closure (including the profitability challenges of order-book DEXs), and analyzes the impact on the Sei ecosystem and the broader on-chain order-book sector.
