ChainFeeds’ Aug. 26 research brief brought together five separate discussions shaping the current crypto conversation: Michael Saylor’s argument that Bitcoin’s institutionalization does not betray its core principles; a Foresight News review of the latest market rebound and the sharp return of spot ETF inflows; Biteye’s rundown of meme and infrastructure projects inside the warming HyperEVM ecosystem; Arthur Hayes’ view that U.S. policymakers revert to liquidity expansion whenever the 10-year Treasury yield approaches 5%; and a BlockBeats take on why on-chain momentum still lags the broader market even as meme assets regain attention. The brief also listed several headline items, including reported bids for crypto custodian Copper below the previously cited $500 million level, RockawayX’s plan to raise $150 million for a crypto hedge fund, Kalshi’s roughly $1.12 billion raised through equity financing, Arthur Hayes’ planned FLOP tokenomics infographic and AMA, and a Caixin report on Zhou Guren, identified there as the largest backer of Trump family crypto project WLFI. Across the five featured pieces, the publication framed the current moment as one where macro policy, regulated products, institutional structures, and meme-driven user acquisition are all moving into the same field of view.

ChainCatcher said RockawayX, which manages about $2 billion in assets, is looking to raise $150 million for a new liquidity opportunities fund. The firm previously acquired crypto hedge fund Relayer Capital. Relayer Capital founder and former CoinFund partner Austin Barack will stay on at RockawayX and run the fund, which will focus on undervalued tokens and crypto-linked equities. The update comes as bitcoin, ether and Solana each gained more than 20% over the past week, while firms such as Paradigm and Framework Ventures have been expanding into AI and robotics.

D2 Finance has publicly challenged Tori Finance’s handling of the funding gap that followed the Term Finance incident, laying out five specific questions in a post on X. The derivatives strategy protocol asked why Tori Finance minted 250,500 trUSD in advance instead of using existing USDC reserves directly, where the collateral used for that mint came from, and why the other half of the funds appeared to come from a Kraken hot wallet. D2 Finance also pointed to Tori Finance’s transparency page, which it said showed a buffer of only about $17,600, or 3 basis points, a figure it argued was far below the scale of the incident. It also questioned how Delta Neutrality was being verified, as well as the structure of higher-yield money market positions and the hedging approach. Earlier, the RockawayX Tori USDC Vault was affected in the Term Finance governance vulnerability incident, with losses of about 454,000 USDC. RockawayX and Tori Finance later said the loss had been fully covered.

Dutch crypto-finance protocol Tori Finance said its institutional-grade delta-neutral yield product, strUSD, secured $50 million in pre-deposit commitments before its official launch, reaching the cap in seven days. The protocol says strUSD targets an annualized yield of about 12%, generated from a global carry trade strategy widely used in traditional finance rather than from crypto-native yield recycling. According to Tori, the strategy borrows in low-interest currencies, deploys capital into higher-yield markets, and uses foreign-exchange hedging to lock in U.S. dollar returns while keeping correlation with crypto market cycles low. Founder Samed Duzcay said this type of trade has historically been limited to large institutions such as pension funds and banks because it usually requires tens of millions of dollars, along with local banking access, custody, tax handling, and compliance approvals. Tori said users can deposit USDC or USDT to mint the synthetic dollar asset trUSD and then stake it to receive strUSD, which is built on the ERC-20 standard and can be used across DeFi protocols including Morpho, Pendle, and Curve.

OnRe said it closed a $5 million SOL-based reinsurance deal led by Forward Industries and RockawayX, with the capital aimed at platform growth and bringing more institutional investors on-chain.

Brera Holdings PLC plans to rebrand as Solmate Infrastructure PLC, shifting from football club ownership to Solana validator and staking services in Abu Dhabi. A 10-for-1 reverse stock split is proposed, and investors including ARK Invest back the move.

Solmate’s Solana-focused treasury push has been hit by a shareholder lawsuit over alleged dilution and conflicted transactions, while asset sales, losses, and a reverse split add pressure to the company’s crypto transition.

Rialto is pitching itself as an onchain spot exchange built around execution rather than simple asset listings, with support for crypto assets, stock tokens, ETFs and commodities on Robinhood Chain. The project has emerged alongside Robinhood Crypto, Offchain and Arbitrum, and says its key differentiator is a routing model that compares multiple liquidity sources for every trade. At the center of that design is propAMM, Rialto’s term for an onchain market maker that quotes with its own inventory and pricing logic while continuously referencing external markets. The system evaluates real-time quotes from propAMMs and traditional DEX pools, ranks routes by net output after network costs, and settles the winning path atomically onchain. Orders can also be split across venues when that improves execution. Rialto says its in-house propAMM, Rivo Altus, competes alongside outside liquidity for each order instead of receiving flow by default. The platform has also launched a partner program for apps, terminals, bots and agents, with its swap API already integrated by Arcus, Index and LI.FI. According to data shown on Rialto’s website, ETH is currently the most active asset on the platform with about $128 million in 24-hour volume, while most individual stock tokens remain in the thousands to tens of thousands of dollars range.