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Project Overview
Anchorage provides institutions with integrated digital asset financial services and infrastructure solutions, including custody, staking, voting, auditing, proof of existence, and trading. It offers a combination of secure custody, regulatory compliance, product breadth, and client service, with the first federally chartered crypto bank.
Stablecoin Payment Infrastructure Pact Labs Raises $7 Million in Series A Funding Led by Tether
Pact Labs, a stablecoin payment infrastructure provider, has announced a $7 million Series A funding round, led by Tether, with participation from Blockchange Ventures and Lasagna. The new funds will be used to accelerate infrastructure development, enabling USAT to provide payroll services, wage withdrawals, credit, and payment solutions for millions of American workers. USAT is a USD stablecoin issued by Tether in partnership with Anchorage Digital Bank. (Prnewswire)
Morpho completes $175 million funding round, led by a16z Crypto and Paradigm
DeFi lending protocol Morpho has announced the completion of a $175 million funding round, led by a16z Crypto, Paradigm, and Ribbit Capital, with participation from Apollo Funds, Circle Ventures, VanEck, and other institutions.The report states that this funding round was priced based on the average price of Morpho tokens over the past month, corresponding to a valuation of approximately $2 billion for the protocol. Morpho allows institutions to customize lending markets and risk parameters on-chain and has already attracted adoption by institutions such as Coinbase, Kraken, Anchorage Digital, and Galaxy Digital.Data shows that Morpho's current Total Value Locked (TVL) is approximately $6.6 billion. The company stated that it will continue to expand its institutional-grade DeFi lending business and strengthen competition with lending protocols like Aave. (Fortune)
Turnkey Completes $12.5 Million Strategic Financing, with Participation from Circle Ventures and Sequoia Capital
Turnkey, a company specializing in crypto wallets and key management infrastructure, has announced the completion of a $12.5 million strategic financing round. Archetype and Circle Ventures led the round, with participation from Sequoia Capital, Bain Capital Crypto, Lightspeed Faction, Galaxy Ventures, and Variant. The project's total funding has now exceeded $65 million.The company's primary business involves developing wallet and key management infrastructure for crypto applications. This round of financing will be used to support the development and public launch of Turnkey Verifiable Cloud, a product focused on digital asset security computing. This product aims to provide enterprises with verifiable operating environments, encompassing functionalities such as transaction visibility, policy decisions, and agent-driven wallet activities. Turnkey's current clientele includes Polymarket, World App, and Anchorage Digital.
Tether-compliant stablecoin USAT launches on Celo, marking its second mainnet deployment after Ethereum
the token is issued by Anchorage Digital Bank, can be natively minted and redeemed on Celo, and can be directly used to pay on-chain gas fees via Celo's fee abstraction mechanism. USAT went live in January this year and currently has a market cap of approximately $185 million.
Anchorage Digital Integrates Lido to Provide Institutional wstETH Compliance Channel
Crypto bank Anchorage Digital has announced its integration with Lido, the largest liquid staking protocol on Ethereum, offering institutional clients direct access to its derivative asset, wstETH. Institutional users can now mint and redeem wstETH, earning Ethereum staking yields while benefiting from Anchorage’s custody and governance compliance framework. (The Block)
U.S. Congress Discusses Fed's "Skinny Master Account," Evaluating Whether Crypto and Fintech Companies Can Directly Access Central Bank Payment System
The House Financial Services Committee held a hearing on Wednesday to discuss the changing roles of banks and fintech companies, with a key focus being the "skinny master account" option under consideration by the Federal Reserve, which would allow certain crypto banks and fintech companies limited direct access to the Fed's payment system.A Federal Reserve master account allows financial institutions to directly use the Fed’s payment network and gain the most direct access to the U.S. dollar monetary system. Institutions without such an account typically rely on partner banks that hold master accounts to provide services. The so-called "skinny account" is a version with limited functionality, intended to provide restricted access for new types of financial institutions.Republican Representative Dan Meuser stated during the hearing that access to the Fed’s payment system is no small matter, and the core issue is which institutions should be permitted to directly use these critical payment rails. Traditional institutions like community banks worry that crypto and fintech companies are not subject to the same stringent regulations, and granting them direct access could pose safety and soundness risks.The crypto industry generally supports the proposal, arguing that direct access to the Fed’s payment system is long overdue, as it would help reduce reliance on intermediary banks and foster innovation. In May, former President Trump signed an executive order requiring the Federal Reserve to evaluate policies for opening central bank payment rails to fintech companies, including crypto firms.Previously, in March, the Kansas City Fed approved Kraken’s parent company, Payward, for a "limited purpose account," sparking discussions about the extent to which crypto and fintech companies should have direct access to Fed services. A representative from Anchorage Digital stated during the hearing that if the U.S. is to remain the global financial center, it must allow for innovative federal and state-level regulatory frameworks.
Avalanche Launches Payment Ecosystem Alliance, with 28 Organizations Already Onboard
Avalanche announced the launch of the Avalanche Payments Collective, with 28 organizations already joining the coalition to build payment infrastructure on the Avalanche network. The coalition aims to integrate multiple domains, including settlement, stablecoins, capital infrastructure, foreign exchange, asset management, compliance, and global payments. Members include Franklin Templeton, VanEck, WisdomTree, Paxos, Kraken, Anchorage Digital, Ethena, and the Wyoming Stablecoin Committee.
Falcon Finance and Anchorage Launch Compliant Stablecoin fUSD for Institutional Clients
Falcon Finance officially announced the launch of its U.S. dollar-pegged stablecoin, fUSD, in collaboration with Anchorage Digital Bank. Positioned as an institutional-grade payment stablecoin compliant with the GENIUS Act framework, fUSD is now live on Ceffu’s custody and collateral infrastructure. Reportedly, fUSD is backed by reserves including U.S. Treasury securities and is issued by Anchorage Digital Bank—but does not pay interest or returns directly to holders.
Turnkey Completes $12.5 Million Strategic Financing, with Participation from Circle Ventures and Sequoia Capital
Turnkey, a company specializing in crypto wallets and key management infrastructure, has announced the completion of a $12.5 million strategic financing round. Archetype and Circle Ventures led the round, with participation from Sequoia Capital, Bain Capital Crypto, Lightspeed Faction, Galaxy Ventures, and Variant. The project's total funding has now exceeded $65 million.The company's primary business involves developing wallet and key management infrastructure for crypto applications. This round of financing will be used to support the development and public launch of Turnkey Verifiable Cloud, a product focused on digital asset security computing. This product aims to provide enterprises with verifiable operating environments, encompassing functionalities such as transaction visibility, policy decisions, and agent-driven wallet activities. Turnkey's current clientele includes Polymarket, World App, and Anchorage Digital.
Paradigm unstakes $171 million in HYPE, possibly transferring to institutional custody
this morning, two addresses suspected to be associated with Paradigm unstaked 2.92 million HYPE (approximately $171 million).Former Ethereum core developer and angel investor Eric Conner commented on this, saying: "Everyone assumes this is a sell-off, but it's more likely that this is for ETF seeding. Custodians require tokens to be liquid, and staked HYPE cannot be used. Back in April, they also unstaked $88 million worth of tokens, and on the same day, Grayscale updated its S-1 filing and switched its custodian to Anchorage."
Two major whales withdrew over $25.7 million worth of HYPE from multiple exchanges within 12 hours, suggesting coordinated accumulation.
According to on-chain analytics platform Lookonchain (@lookonchain), two large HYPE withdrawals occurred in the past 12 hours: a new wallet, 0x6436, withdrew a total of 263,906 HYPE (approximately $19.2 million) from OKX, Bybit, Kraken, and Gate; another new wallet, 0x5EaD—linked to Anchorage Digital—withdrew 88,955 HYPE (approximately $6.5 million) from Kraken five hours ago. The combined value of these two withdrawals is approximately $25.7 million.
Anchorage-linked wallet withdraws another 142,308 HYPE tokens from Gate and OKX
According to on-chain analyst Onchain Lens (@OnchainLens), an Anchorage-associated wallet has again withdrawn 142,308 HYPE tokens (valued at approximately $7.38 million) from Gate and OKX. Over the past month, it has cumulatively purchased 2.527 million HYPE tokens (valued at approximately $140 million), all of which have been staked.
Wallets associated with Anchorage purchased 397,000 HYPE tokens from Bybit and OKX.
According to on-chain analyst Onchain Lens (@OnchainLens), a wallet associated with Anchorage purchased 397,000 $HYPE tokens from Bybit and OKX, valued at approximately $18 million. Over the past month, this wallet has accumulated a total of 2.13 million $HYPE tokens, with a total value of approximately $91.99 million.
Trump: Will Not Allow Banks to Obstruct Crypto Market Structure Legislation
Odaily Odaily: U.S. President Trump stated at a private event for TRUMP Meme coin holders held at his Mar-a-Lago estate in Florida that the White House will not allow banking lobbying groups to hinder the progress of the crypto market structure bill, the Digital Asset Market Clarity Act. He said the crypto industry has entered the mainstream, declaring "America is the leader in crypto," and that banks should not obstruct the establishment of stablecoin and crypto regulatory frameworks.Dubbed the "most exclusive meeting in the world," the event invited hundreds of large TRUMP coin holders. Guests included Tether CEO Paolo Ardoino, Ark Invest founder Cathie Wood, Anchorage Digital CEO Nathan McCauley, and boxing champion Mike Tyson. Previously, the U.S. banking industry had expressed concerns that stablecoin reward mechanisms could impact traditional deposit businesses, which had slowed the legislative process. (CoinDesk)
Tether-compliant stablecoin USAT launches on Celo, marking its second mainnet deployment after Ethereum
the token is issued by Anchorage Digital Bank, can be natively minted and redeemed on Celo, and can be directly used to pay on-chain gas fees via Celo's fee abstraction mechanism. USAT went live in January this year and currently has a market cap of approximately $185 million.
Paradigm unstakes $171 million in HYPE, possibly transferring to institutional custody
this morning, two addresses suspected to be associated with Paradigm unstaked 2.92 million HYPE (approximately $171 million).Former Ethereum core developer and angel investor Eric Conner commented on this, saying: "Everyone assumes this is a sell-off, but it's more likely that this is for ETF seeding. Custodians require tokens to be liquid, and staked HYPE cannot be used. Back in April, they also unstaked $88 million worth of tokens, and on the same day, Grayscale updated its S-1 filing and switched its custodian to Anchorage."
Bitcoin Security Alliance Officially Established, Nine Major Institutions Pledge $15 Million Over Three Years
According to the official press release, Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy, and Strategy, nine leading financial institutions and Bitcoin companies, jointly announced the establishment of the Bitcoin Security Consortium on July 23, 2026. The members independently committed to contributing a total of $15 million over the next three years to support long-term security research for the Bitcoin network, with a focus on development work in the field of post-quantum cryptography. The consortium's daily affairs are coordinated on a voluntary basis by Brink Executive Director Mike Schmidt; it will not intervene in protocol development or specific change decisions and will regularly release Bitcoin security status reports to investors and the public.
Fairshake-affiliated PAC spends over $986,000 in Michigan Democratic primary race
documents filed by Protect Progress PAC, an affiliate of the crypto-focused political action committee Fairshake, with the U.S. Federal Election Commission (FEC) show that as of Tuesday, it has spent over $986,000 to support current Democratic Representative Shri Thanedar in Michigan’s 13th Congressional District and oppose challenger Donavan McKinney. The expenditure occurs two weeks before the August 4 Democratic primary, which will determine the party’s nominee for the November general election. Protect Progress PAC spent approximately $1 million in 2024 to support Thanedar, who received 54.9% of the vote in that year’s Democratic primary and went on to secure 68.6% of the vote in the November general election. Fairshake and its affiliated organizations report having a $191 million war chest to influence key elections. Other crypto industry-related political action committees include the Fellowship, backed by Cantor Fitzgerald and Anchorage Digital, and the Blockchain Leadership Fund, supported by Anchorage and Chainlink Labs. Protect Progress PAC has also spent over $100,000 to support Arizona Representative Greg Stanton’s re-election. Meanwhile, Defend American Jobs PAC has spent over $65,000 to support Amanda McKinney, the Republican candidate in Washington’s 4th Congressional District.
Anchorage Digital Integrates Lido to Provide Institutional wstETH Compliance Channel
Crypto bank Anchorage Digital has announced its integration with Lido, the largest liquid staking protocol on Ethereum, offering institutional clients direct access to its derivative asset, wstETH. Institutional users can now mint and redeem wstETH, earning Ethereum staking yields while benefiting from Anchorage’s custody and governance compliance framework. (The Block)
U.S. Congress Discusses Fed's "Skinny Master Account," Evaluating Whether Crypto and Fintech Companies Can Directly Access Central Bank Payment System
The House Financial Services Committee held a hearing on Wednesday to discuss the changing roles of banks and fintech companies, with a key focus being the "skinny master account" option under consideration by the Federal Reserve, which would allow certain crypto banks and fintech companies limited direct access to the Fed's payment system.A Federal Reserve master account allows financial institutions to directly use the Fed’s payment network and gain the most direct access to the U.S. dollar monetary system. Institutions without such an account typically rely on partner banks that hold master accounts to provide services. The so-called "skinny account" is a version with limited functionality, intended to provide restricted access for new types of financial institutions.Republican Representative Dan Meuser stated during the hearing that access to the Fed’s payment system is no small matter, and the core issue is which institutions should be permitted to directly use these critical payment rails. Traditional institutions like community banks worry that crypto and fintech companies are not subject to the same stringent regulations, and granting them direct access could pose safety and soundness risks.The crypto industry generally supports the proposal, arguing that direct access to the Fed’s payment system is long overdue, as it would help reduce reliance on intermediary banks and foster innovation. In May, former President Trump signed an executive order requiring the Federal Reserve to evaluate policies for opening central bank payment rails to fintech companies, including crypto firms.Previously, in March, the Kansas City Fed approved Kraken’s parent company, Payward, for a "limited purpose account," sparking discussions about the extent to which crypto and fintech companies should have direct access to Fed services. A representative from Anchorage Digital stated during the hearing that if the U.S. is to remain the global financial center, it must allow for innovative federal and state-level regulatory frameworks.
Related news
Tether-compliant stablecoin USAT launches on Celo, marking its second mainnet deployment after Ethereum
the token is issued by Anchorage Digital Bank, can be natively minted and redeemed on Celo, and can be directly used to pay on-chain gas fees via Celo's fee abstraction mechanism. USAT went live in January this year and currently has a market cap of approximately $185 million.
BlackRock, Coinbase, and Others Establish a $15 Million Bitcoin Quantum Defense Fund
Odaily Odaily News: BlackRock, Coinbase, Strategy, Anchorage Digital, ARK Invest, Block, Blockstream, Fidelity Digital Assets, and Galaxy have formed the Bitcoin Security Consortium, committing a combined $15 million over three years to fund Bitcoin security research and open-source development focused on quantum computing defense. The consortium does not hold or distribute funds; each member directly selects the developers and researchers they will fund. The consortium stated it will not direct Bitcoin development or take positions on protocol changes. Mike Schmidt from the developer funding non-profit Brink will coordinate related efforts as a volunteer. Currently, there is no quantum computer capable of breaking Bitcoin's cryptography. Approximately 6.9 million BTC, worth $450 billion, are held in addresses that could be affected if such a quantum computer emerges. Remediation would require coordination among wallets, exchanges, miners, users, and other parties. Related work includes proposals such as BIP 360, which designs a new output type to limit public key exposure and accommodate post-quantum signature schemes. Robert Mitchnick, Head of Digital Assets at BlackRock, stated that Core developers are doing important work and that this organization will provide more funding for Bitcoin's long-term security.
Paradigm unstakes $171 million in HYPE, possibly transferring to institutional custody
this morning, two addresses suspected to be associated with Paradigm unstaked 2.92 million HYPE (approximately $171 million).Former Ethereum core developer and angel investor Eric Conner commented on this, saying: "Everyone assumes this is a sell-off, but it's more likely that this is for ETF seeding. Custodians require tokens to be liquid, and staked HYPE cannot be used. Back in April, they also unstaked $88 million worth of tokens, and on the same day, Grayscale updated its S-1 filing and switched its custodian to Anchorage."
Bitcoin Security Alliance Officially Established, Nine Major Institutions Pledge $15 Million Over Three Years
According to the official press release, Anchorage Digital, ARK Invest, BlackRock, Block, Blockstream, Coinbase, Fidelity Digital Assets, Galaxy, and Strategy, nine leading financial institutions and Bitcoin companies, jointly announced the establishment of the Bitcoin Security Consortium on July 23, 2026. The members independently committed to contributing a total of $15 million over the next three years to support long-term security research for the Bitcoin network, with a focus on development work in the field of post-quantum cryptography. The consortium's daily affairs are coordinated on a voluntary basis by Brink Executive Director Mike Schmidt; it will not intervene in protocol development or specific change decisions and will regularly release Bitcoin security status reports to investors and the public.
Fairshake-affiliated PAC spends over $986,000 in Michigan Democratic primary race
documents filed by Protect Progress PAC, an affiliate of the crypto-focused political action committee Fairshake, with the U.S. Federal Election Commission (FEC) show that as of Tuesday, it has spent over $986,000 to support current Democratic Representative Shri Thanedar in Michigan’s 13th Congressional District and oppose challenger Donavan McKinney. The expenditure occurs two weeks before the August 4 Democratic primary, which will determine the party’s nominee for the November general election. Protect Progress PAC spent approximately $1 million in 2024 to support Thanedar, who received 54.9% of the vote in that year’s Democratic primary and went on to secure 68.6% of the vote in the November general election. Fairshake and its affiliated organizations report having a $191 million war chest to influence key elections. Other crypto industry-related political action committees include the Fellowship, backed by Cantor Fitzgerald and Anchorage Digital, and the Blockchain Leadership Fund, supported by Anchorage and Chainlink Labs. Protect Progress PAC has also spent over $100,000 to support Arizona Representative Greg Stanton’s re-election. Meanwhile, Defend American Jobs PAC has spent over $65,000 to support Amanda McKinney, the Republican candidate in Washington’s 4th Congressional District.
Stablecoin Payment Infrastructure Pact Labs Raises $7 Million in Series A Funding Led by Tether
Pact Labs, a stablecoin payment infrastructure provider, has announced a $7 million Series A funding round, led by Tether, with participation from Blockchange Ventures and Lasagna. The new funds will be used to accelerate infrastructure development, enabling USAT to provide payroll services, wage withdrawals, credit, and payment solutions for millions of American workers. USAT is a USD stablecoin issued by Tether in partnership with Anchorage Digital Bank. (Prnewswire)