Ethereum
ETHThe first blockchain with smart contract functionality
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Project Overview
Ethereum is the first decentralized, open-source blockchain with smart contract functionality. It was initially described in a white paper by Vitalik Buterin in late 2013 and launched in 2015. This network serves as the foundation for an ecosystem of interoperable, decentralized applications (dApps) powered by token economies and automated smart contracts. Assets and applications designed on Ethereum are built with self-executing smart contracts that eliminate the need for a central authority or intermediary. u2028The network is powered by its native cryptocurrency ether (ETH), which is used to pay transaction fees. Ethereum has the characteristics of being open-source, programmable, private, and censorship-resistant, forming the backbone of a decentralized internet.
TD Cowen Lowers Sharplink Price Target to $13, Maintains "Buy" Rating
Brokerage firm TD Cowen lowered Sharplink's target price from $16 to $13, as it reduced its Ethereum price forecast for the end of 2026 to $2,371. However, TD Cowen still maintains a "Buy" rating on Sharplink, stating that the company recently completed a $75 million financing, purchased 10,000 ETH, and initiated a 2.13 million share buyback, indicating that its capital reserve execution continues to advance.
Ethereum Institutional Completes Seed Funding Raise, Led by BitMine, SharpLink, and Ethereum Co-Founders
以太坊机构（Ethereum Institutional）宣布完成初始生态系统融资轮，获得逾 100 位生态参与者支持，锚定投资方包括 BitMNR、Sharplink 及以太坊联合创始人 Joseph Lubin、Mihai Alisie，参与者涵盖加密原生机构及个人投资者。 后续，该组织将加速与银行、资产管理公司、托管机构、金融科技及主权机构的直接接触，并联合 L2、应用团队、基础设施及托管服务商等推进以太坊机构化进程。目前该组织已开放招聘。
ZuriQ Completes $25.5 Million Seed Funding Round, Advances Development of Novel Quantum Chip Architecture
According to Sifted, ETH Zurich spin-off startup ZuriQ announced the completion of a $25.5 million seed funding round. The company is dedicated to developing a new quantum chip architecture, which reportedly offers greater scalability compared to existing solutions and is expected to accelerate the scaling process in the field of quantum computing.
Coinbase Institutional Maintains Neutral Outlook on Crypto Market for Q3 2026
Coinbase Institutional and Glassnode have jointly released a market report, maintaining a neutral outlook on the cryptocurrency market for the third quarter of 2026. In the second quarter, the total market capitalization of the crypto market (excluding stablecoins) declined by approximately 12%, while stablecoin supply reached an all-time high. On-chain data suggests that Bitcoin may be transitioning from a correction phase to an accumulation phase, characterized by compressed valuations, near-multi-year lows in recent active supply, and the proportion of supply in profit breaking below historical statistical lower bounds—historically corresponding to accumulation rather than distribution zones. However, the macro liquidity environment remains tight, with the Federal Reserve maintaining a hawkish stance under Kevin Warsh's leadership, a strong U.S. dollar, coupled with geopolitical risks, selling pressure from digital asset treasuries, and net outflows from spot BTC and ETH ETFs in the first half of the year (though the pace of outflows has begun to slow), thus overall caution is advised.
Analysis: Shiba Inu Whale Holds 103 Trillion SHIB Unmoved for 5 Years, $10,000 Investment Once Valued at $50 Billion
According to Odaily, blockchain analytics platform Bubblemaps has disclosed that a mysterious whale address cluster within the Shiba Inu (SHIB) ecosystem has held approximately 103 trillion SHIB since 2020. The entity initially spent just 38 ETH (roughly $10,000 at the time) to build the position, which once peaked at an unrealized valuation exceeding $50 billion, marking one of the most astonishing investment cases in crypto market history.Bubblemaps' tracking reveals that the whale initially purchased 103 trillion SHIB through the wallet address 0x1406, accounting for about 10% of the circulating supply at the time. As the SHIB price surged, the position's value once reached approximately $5 billion. Currently, the address cluster's holdings are still valued at over $2.5 billion, representing a cumulative return of more than 21,000 times.To reduce exposure risk, the whale split the assets across 14 addresses in November 2021. In January 2023, Bubblemaps first disclosed this SHIB whale cluster, which then controlled about 10% of the SHIB supply, valued at over $1 billion, sparking community discussions about high concentration of holdings by a single entity.Subsequently, the address cluster underwent continuous address migration and splitting. In September 2023, Bubblemaps found that its holdings had spread from a few prominent wallets to many new addresses, a typical tactic to reduce on-chain visibility. Using its Magic Nodes tool, Bubblemaps was still able to identify the connections between these wallets.During the SHIB price surge in early 2024, the whale's position value exceeded $2 billion again, with the number of wallets expanding to over 170 addresses. As of now, the cluster still controls approximately 8.51% of the SHIB circulating supply, a decrease from the initial 10% ratio. However, Bubblemaps notes that this is primarily due to normal on-chain transfers, with no signs of large-scale selling detected.Bubblemaps points out that this case highlights the significant value of on-chain transparency tools: an entity can conceal massive holdings by splitting wallets, but all fund transfers leave public on-chain records. This SHIB whale case has also become a typical example for observing "whale behavior, holding concentration, and on-chain tracking" within the crypto market.
MegaETH Shuts Down Mega Mafia Accelerator Program, Pivots to In-House Application Development
According to The Block, Shuyao Kong, a core team member of Ethereum scaling project MegaETH, announced on July 16 the official closure of the flagship accelerator program Mega Mafia, which operated for two years across two cohorts. The project incubated approximately 20 teams in total, cumulatively helping them raise about $80 million in financing (covering Pre-Seed to Series A), but Kong admitted "the project was built on assumptions that no longer hold true," and most successfully incubated applications are no longer building on MegaETH. Among them, flagship project GTE chose to build its own public chain, Noise shifted to Base, HelloTrade shifted to Monad, and some projects such as Avon and Valhalla have closed. Notably, MegaETH did not hold equity or governance rights in any project during the incubation process. Kong stated that MegaETH will shift resources to "first-party application" development in the future, directly establishing relationships with end users, focusing on "OMEGA"-level consumer applications that can only be realized on MegaETH.
Prominent Trader: Circle, Coinbase, and ETH Are Core Targets for Reshaping the Financial System, Current Key Allocation Direction
Trader Doctor Profit stated that his current key positioning is the "Galactic Three", namely Circle, Coinbase, and ETH, believing that the three correspond to compliant stablecoin issuance, crypto asset custody and trading, and tokenization and smart contract infrastructure respectively, and are core targets in the reshaping of the financial system in this new cycle.
Author of the "Ethereum Cypherpunk Manifesto" Joins the Ethereum Foundation Board
: The Ethereum Foundation has announced that Pascal Caversaccio, also known as pcaversaccio (or "pc"), has joined its Board of Directors, increasing the board's membership to four.Caversaccio is a co-founder of the Ethereum security organization SEAL 911 and a well-known security expert and privacy advocate within the crypto ecosystem. He has gained attention for his technical security capabilities, as well as his commentary on cypherpunk culture, privacy, and decentralization, and is the author of the "Ethereum Cypherpunk Manifesto".Aya Miyaguchi, Chair of the Ethereum Foundation, stated that Caversaccio brings not only security and privacy expertise but also practical experience highly aligned with Ethereum's core values. She expressed anticipation for the new perspective he will bring to the foundation, pushing it to think more deeply about security and privacy issues.Currently, the Ethereum Foundation Board of Directors includes Aya Miyaguchi, Ethereum co-founder Vitalik Buterin, Swiss legal representative Patrick Storchenegger, and the newly added Caversaccio. The foundation stated that the board acts like a "security committee," responsible for protecting the foundation's core mission and ensuring its compliance as a Swiss foundation.This appointment is also part of recent adjustments within the Ethereum ecosystem's governance. As the foundation has faced discussions regarding organizational changes, governance transparency, and roadmap coordination in recent years, the inclusion of a figure focused on security and privacy on the board may further strengthen Ethereum's cypherpunk positioning and long-term value narrative.
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.
Bank of Russia Releases Draft Regulatory Rules for Crypto Exchanges and Custodians
According to Cryptopolitan, the Central Bank of Russia (CBR) has released a draft of supporting regulatory rules for the cryptocurrency market, covering registration and operational requirements for crypto exchanges, digital depository institutions, and token issuers. The draft stipulates that the minimum net assets of digital depository institutions must range between 50 million and 250 million rubles (approximately $600,000 to $3 million), depending on the nature of the business. These rules will supplement the "Law on Digital Currency and Digital Rights" passed by the Russian State Duma earlier this month, which is expected to officially take effect on September 1, 2026. Under the new framework, non-qualified investors are limited to purchasing mainstream assets such as BTC, ETH, and USDT annually, with a cap of $4,000; industry participants will have a transition period until March 1, 2027, to complete compliance and approval procedures.
Lido Responds to stETH Yield Calculation Anomaly: Issue Fixed and Oracle Upgraded, User Funds Unaffected
Ethereum staking protocol Lido stated on X platform that today's stETH Rebase has been completed as expected, and has compensated for the ETH rewards missed yesterday due to calculation deficiencies. The corresponding annual percentage rate (APR) is approximately 2.29%. Additionally, the protocol's oracle has been updated and passed audit. The new version will improve report processing speed and help locate the cause more quickly when similar issues arise in the future.Regarding the yield calculation anomaly that occurred yesterday, Lido stated that contributors are still conducting a root cause analysis. Further investigation details will be published on the official forum and social platforms. Throughout the entire incident, user funds were never at risk. Preliminary analysis suggests the issue may have stemmed from a specific edge case: the yield report from yesterday omitted a validator that was in a pending deposit status, causing some staking rewards to be excluded from the calculation.Lido stated that a complete post-mortem report will be released in the coming days to further explain the cause of the issue, remediation measures, and subsequent improvement plans.
Involved in $19 Million Theft, Crypto Theft Suspect Dritan Kapllani Jr Washes Another 126.7 ETH
Odaily Odaily News, July 24: On-chain数据显示，加密盗窃嫌疑人 Dritan Kapllani Jr 于 7 月 22 日再次清洗 126.7 枚 ETH，价值约 23.9 万美元。此前，链上侦探 ZachXBT 调查披露，Dritan Kapllani Jr 涉嫌通过社会工程手段盗窃加密货币持有者资产，涉案总额达 1900 万美元。Dritan Kapllani Jr 长期在社交媒体上展示豪车、名表、私人飞机等生活内容，并于 2026 年 4 月 23 日在 Discord 通话中公开展示其 Exodus 钱包内 368 万美元资产。
Value $500 Million, Fidelity-Linked Wallet Moves 260,000 ETH to 3 Wallets
Odaily News, According to Onchain Lens monitoring, a Fidelity-linked wallet transferred 260,000 ETH (approximately $500 million) to 3 wallets that were first funded by Fidelity 6 months ago. The funds were split into 95,000 ETH (approximately $183 million), 87,000 ETH (approximately $167 million), and 78,000 ETH (approximately $150 million).
Prominent Trader: Circle, Coinbase, and ETH Are Core Targets for Reshaping the Financial System, Current Key Allocation Direction
Trader Doctor Profit stated that his current key positioning is the "Galactic Three", namely Circle, Coinbase, and ETH, believing that the three correspond to compliant stablecoin issuance, crypto asset custody and trading, and tokenization and smart contract infrastructure respectively, and are core targets in the reshaping of the financial system in this new cycle.
Greeks.live: 149,000 BTC options, with a notional value of $9.6 billion, expire today
Odaily News [email protected] posted on the X platform that the options settlement data for July 31 shows that 149,000 BTC options expired, with a Put Call Ratio of 0.28, the max pain point at $64,000, and a notional value of $9.6 billion; 435,000 ETH options expired, with a Put Call Ratio of 0.63, the max pain point at $1,850, and a notional value of $830 million. Bitcoin fluctuated around $64,000 this week. As mentioned last week, the price range above $65,000 is a high-volume area formed during the early-year rally, and there is some resistance there.The U.S. stock market was quite volatile this week, but when U.S. stocks fell, funds did not flow into the crypto market, and the rebound did not drive the crypto market up either. Currently, capital inflows into crypto are limited, with trading volumes of some crypto-related U.S. stock products even surpassing many crypto assets, so conditions for an upward move are not in place. Looking at the main options data, 30% of options expired this week. On the call side, Gex is relatively dispersed, while on the put side, Gex is relatively concentrated. This month, BTC's PCR is only 0.26, with extremely low put open interest, while Ethereum's put open interest has remained relatively high.Overall IV has remained at a relatively low level for a quarter now. In Q3, we can observe rebounds when capital inflows occur. Crypto has been in an 8-month bear market, and trading attention in U.S. stocks has taken the lead. In the short term, some options can be sold, with the main trading focus placed on U.S. stocks.
3 days after being liquidated for $2.05 million, a Hyperliquid trader establishes a $4.95 million HYPE long position
According to Onchain Lens monitoring, a Hyperliquid trader, after being liquidated for approximately $2.05 million on a SKHX long position 3 days ago, has again established a $4.95 million HYPE long position with 10x leverage. His main positions include a $10.04 million ETH long position with 20x leverage; a $4.95 million HYPE long position with 10x leverage; and additional long positions in META and other assets. The trader's cumulative historical losses amount to approximately $504,800.
Yesterday, Ethereum spot ETF net inflow was $7.39 million.
According to data from Trader T (@thepfund), Ethereum spot ETFs recorded a net inflow of $7.39 million yesterday, showing a significant recovery compared to the previous day (July 29 net outflow of $18.6 million). Among them, BlackRock ETHA led with an inflow of $16.24 million, Bitwise ETHW saw an inflow of $1.37 million, 21Shares TETH an inflow of $380,000, and Morgan Stanley MSSE an inflow of $410,000; Fidelity FETH had an outflow of $2.87 million, BlackRock staked ETHB an outflow of $5.9 million, VanEck ETHV an outflow of $700,000, and Grayscale ETHE an outflow of $1.55 million, with net inflows for other products at zero for the day.
A whale has accumulated $184 million worth of WBTC and ETH over the past month, currently sitting on a $10.8 million profit
that, according to Lookonchain monitoring, a whale has been steadily accumulating WBTC and ETH over the past month. In total, the whale purchased 1,050 WBTC at an average price of $64,277, worth $67.49 million, and 66,300 ETH at an average price of $1,758, worth $117 million. The whale's holdings are currently showing a profit of $10.8 million.
Anthropic AI Model Weakens HAWK Minimum Key Strength in 60 Hours
: Anthropic's Claude Mythos Preview model discovered a flaw in the proposed HAWK digital signature scheme, effectively halving its minimum key strength. HAWK is one of the candidate schemes to replace current network and bank signatures in a post-quantum environment. This AI-driven attack took approximately 60 hours, with a computational cost of around $100,000, reducing the effort required to break HAWK's minimum parameter set from roughly 2^64 operations to 2^38 operations, and diminishing the attractiveness of larger compensating key sizes. Current Bitcoin and Ethereum signatures remain unaffected. The results indicate that the capabilities of classical cryptanalysis attacks are improving, while Bitcoin and other networks continue to discuss when and how to migrate to quantum-resistant cryptography.
Ostium Attack Post-mortem: Off-chain Oracle Permissions Stolen, Forged BTC Price to Arbitrage 23.75 Million USDC
According to Ostium's official report, the core of this attack lies in the compromise of the off-chain price reporting system permissions, unrelated to smart contract vulnerabilities. After obtaining off-chain authorization, the attacker utilized the protocol's registered legitimate forwarding paths to submit forged prices ($5,000 and $60,000) to the BTC-USD market, atomically completing an open-close position arbitrage cycle within the same transaction. Starting with 100 USDC and rolling to amplify the scale across 8 transactions, they extracted 23.75 million USDC from the OLP vault within 5 minutes until the vault circuit breaker mechanism was triggered. The root cause lies in the off-chain infrastructure lacking a multi-party approval mechanism equivalent to on-chain multi-signature, creating a single-point permission vulnerability. The stolen funds have been converted to ETH and mixed via Tornado Cash; tracking efforts are still ongoing.
AmericanFortress 推量子安全钱包方案无需迁移资金
区块链安全公司 AmericanFortress 提出新加密方案，可保护现有 BTC、ETH、SOL 钱包免受未来量子攻击，用户无需转移资金或更改地址。
In the first half of 2026, crypto hack losses exceeded $1 billion, with Ethereum and Solana leading the losses.
: A security report for the first half of 2026 released by on-chain security platform Blockaid shows that the crypto industry suffered losses exceeding $1 billion during the period, with a record number of hacker incidents in six months. Blockaid tracked 212 security incidents, including a single attack on KelpDAO that resulted in a loss of $292 million. Ethereum and Solana were the networks with the largest amounts of stolen funds during the period, with losses of approximately $332 million and $326 million, respectively. Blockaid stated that the number of high-threshold attacks in the first half of 2026 was 3.4 times that of the entire year of 2025. Ethereum incidents were primarily driven by code vulnerabilities, with attack vectors including bridge and smart contract exploits, unauthorized access to privileged accounts, and market manipulation. Solana's losses increased significantly from approximately $127 million in 2025, with over 98% of losses stemming from key leaks, primarily involving incidents related to Drift Protocol and Step Finance.
Across Protocol 攻击者返还 331.8 枚 ETH 至项目多签地址
据 PeckShield 监测，Across Protocol 攻击者标记地址已向 Across Protocol Hub Pool Owner 多签地址返还 331.8 枚 ETH，约合 62.39 万美元。
Garden Finance Hacked, Loss of Approximately $450,000 USDT
According to Cointelegraph, the cross-chain bridging and atomic swap protocol Garden Finance temporarily took its application offline after detecting abnormal activity on July 27. Blockchain security firm Blockaid disclosed that attackers exploited a vulnerability in Garden Finance's Hash Time Locked Contracts (HTLC), stealing a total of approximately $450,000 worth of USDT across four networks: Ethereum, Base, Arbitrum, and BNB Smart Chain.
Uniswap Partners with Morpho to Launch On-Chain Yield Product Earn
Uniswap partners with decentralized lending protocol Morpho to launch yield product Earn, enabling users to directly deposit USDC, USDT, and ETH to earn on-chain yield while keeping assets non-custodial.
Bitwise Q3 Staking Report: Ethereum Staking Amount Reaches 40.2 Million ETH, Accounting for 33% of Total Supply
Bitwise released its Q3 2026 staking report. Currently, 40.2 million ETH are staked, accounting for 33% of the total supply. New staking this year primarily comes from institutions, including staking ETFs, corporate treasuries, and other large holders, continuing to increase despite price declines. Staking ratios on other networks also remain high: Solana at 68%, Near at 45%, Hyperliquid at 44%, and Avalanche at 41%. Ethereum throughput increased 73% year-over-year, while Avalanche trading volume grew 4x year-over-year. Institutional staking is also expanding to emerging networks.
Open USD Announces Ethereum Launch on Day One, Over 140 Institutions Including Visa and BlackRock Participate
Ethereum Institutional (@ethereuminsti) posted that Open Standard's stablecoin project Open USD will be deployed on Ethereum on its first day of launch, having already attracted over 140 enterprises to join, including Visa, Mastercard, Stripe, BlackRock, BNY, and others. All reserve yields will flow to partners driving its growth. Open Standard stated that shared assets require neutral infrastructure, and Ethereum is the deployment platform it has chosen.
Quantum Solutions Sells Another 1,000 ETH, Loses Position as Japan's Largest Corporate ETH Holder
Japanese listed company Quantum Solutions has sold another 1,000 Ethereum, cashing out approximately $1.9 million to support its AI data center expansion. Following this sale, the company has reduced its ETH holdings by nearly 30% since mid-June.According to company documents, Quantum Solutions' subsidiary, GPT Pals Studio, sold this batch of ETH on Thursday at an average price of $1,903. The company expects to record a loss of approximately $100,000 from this transaction. After the sale, Quantum Solutions' remaining ETH holdings amount to approximately 4,765, which is lower than the 4,976 ETH held by Def consulting, thereby losing its position as the largest corporate ETH holder among Japanese listed companies.Quantum Solutions has sold a total of 1,904 ETH in less than two months, accounting for approximately 28.6% of its pre-sale holdings of 6,668.8 ETH. Previously, GPT Pals had sold 904 ETH on June 16, cashing out about $1.6 million.The company acquired the majority of its ETH during the crypto market highs of the fourth quarter of 2025, when ETH prices were in the range of approximately $4,000 to $4,500.
US spot Ethereum ETFs total net inflows exceed $11.23 billion; Ethereum Foundation undergoes organizational restructuring
During the 11th year of Ethereum, the Ethereum Foundation underwent organizational restructuring, including leadership departures, layoffs, the introduction of a new CROPS mandate, and the spin-off of EthLabs, Ethereum Systems, and Ethereum Institutional as independent entities. The Ethereum Foundation seeks to further decentralize its role within the ecosystem. Concurrently, Ethereum continued to advance its technology and institutional adoption, launching the Fusaka upgrade and attracting participation from Wall Street institutions such as BlackRock and JPMorgan; cumulative inflows into US spot Ethereum ETFs have exceeded $11.23 billion.
0xSun: Robinhood Chain Could Drive Meme Coin Momentum, CASHCAT, PIPEDOG and Other Projects Worth Watching
Odaily News Trader 0xSun stated on social media that during Robinhood's earnings call, the only token appearing in a fleeting search bar was CASHCAT. Additionally, Robinhood CEO Vlad, when discussing the Robinhood Chain, mentioned that the chain will be built around RWA, adding that he also likes Meme coins.As a result, CASHCAT's market cap rebounded from approximately $30 million to nearly $50 million. 0xSun believes that an ideal trajectory for a public chain resembles the Base ecosystem in late 2024, initially driven by factors such as founder influence and team background, and later ignited by events like exchange listings. Currently, Robinhood possesses similar conditions, and tokens on its chain could benefit from expectations of potential exchange listings.Furthermore, 0xSun noted that the Meme coin PIPEDOG on the Robinhood chain saw its market cap quickly surge past $75 million within a few hours. The project team locked the liquidity pool and refunded 173 ETH to users affected by the initial contract. The project currently has deep liquidity, with the pool containing approximately $4.5 million in ETH at a market cap of around $30 million.Previously active HOODRAT also once approached zero due to the overall downturn of the Robinhood chain but recently received attention from Matt, the original artist of the Pepe comic, causing its market cap to rebound from a low of $500,000 to $5 million.Beyond Meme coins, 0xSun indicated that STONKBROKER is currently one of the better projects within the Robinhood ecosystem that combines NFT, RWA, and game mechanics, making it worthy of continued attention.
Related news
BitMine Suspected of Purchasing Over 10,000 ETH Again, Valued at Approximately $19.48 Million
On-chain monitoring shows that a wallet suspected to belong to BitMine purchased 10,464 ETH via FalconX early this morning, valued at approximately $19.48 million.
Uniswap Partners with Morpho to Launch On-Chain Yield Product Earn
Uniswap partners with decentralized lending protocol Morpho to launch yield product Earn, enabling users to directly deposit USDC, USDT, and ETH to earn on-chain yield while keeping assets non-custodial.
Arthur Hayes sold 2,364 ETH at a loss, incurring approximately $240,000 in losses.
On-chain data shows that BitMEX co-founder Arthur Hayes sold 2,364.38 ETH in the past two hours at an average selling price of approximately $1,821, incurring a loss of approximately $241,000, with a loss percentage of approximately 5.3%.
Loss of $241K: Arthur Hayes sells 2,364.38 ETH
Odaily News: According to Lookonchain monitoring, Arthur Hayes (@CryptoHayes) deposited 2,364.38 ETH into Cumberland and Galaxy Digital over the past 2 hours, and received 4.3 million USDC in return, at a selling price of $1,821, incurring a loss of $241,000, or a loss rate of 5.3%. He had previously purchased 7,213 ETH at around $1,923, valued at $13.87 million.
Value $500 Million, Fidelity-Linked Wallet Moves 260,000 ETH to 3 Wallets
Odaily News, According to Onchain Lens monitoring, a Fidelity-linked wallet transferred 260,000 ETH (approximately $500 million) to 3 wallets that were first funded by Fidelity 6 months ago. The funds were split into 95,000 ETH (approximately $183 million), 87,000 ETH (approximately $167 million), and 78,000 ETH (approximately $150 million).
Prominent Trader: Circle, Coinbase, and ETH Are Core Targets for Reshaping the Financial System, Current Key Allocation Direction
Trader Doctor Profit stated that his current key positioning is the "Galactic Three", namely Circle, Coinbase, and ETH, believing that the three correspond to compliant stablecoin issuance, crypto asset custody and trading, and tokenization and smart contract infrastructure respectively, and are core targets in the reshaping of the financial system in this new cycle.