Final implementation rules for the GENIUS Act are expected to be released by the end of October.

Stripe co-founder Patrick Collison wrote that since Privy joined Stripe over a year ago, its wallet assets have grown roughly 25 times, monthly active developers have tripled, revenue has increased ninefold, and it now facilitates nearly $25 billion in transactions monthly. Companies including Ramp, Deel, Klarna, and Hyperliquid are building embedded banking features on Privy. Stripe is deeply integrating Privy into its Treasury, Link, and Connect products to accelerate global expansion and feature development, and plans to launch a Link balance feature. Privy’s wallet infrastructure now supports AI agents for transactions and revenue generation, with use cases including Merit Systems and Nevermined. Collison forecasts that the agent economy will continue its rapid growth. The two sides are building a unified API that supports holding stablecoin balances and earning yields, fiat on- and off-ramps, and card-based spending. Collison also noted that significant integration work remains between Privy, Bridge, and Stripe’s other business units.

Uniform Labs, the developer of tokenized asset settlement platform Multiliquid, has raised a total of $8 million across its Pre-Seed and Seed rounds. The latest Seed round was led by Polychain, with participation from Strobe Ventures, CMT Digital, Metalayer Ventures, Generative Ventures, and Circle Ventures. Details on the amount raised in each round and valuations were not disclosed. Multiliquid is now live on Ethereum and Solana, enabling institutions to complete two-way conversions between tokenized assets and stablecoins at net asset value (NAV) in a single atomic transaction with simultaneous settlement. The platform serves asset issuers, institutional treasuries, DeFi lending protocols, and market makers, supporting use cases including reserve rebalancing, margin management, and yield strategy adjustments. Operating on a non-custodial model, it enforces transfer restrictions, identity verification, and issuer-defined compliance rules at the settlement layer, and has already begun processing initial pilot transactions. The funding will be used to expand the protocol engineering team, increase liquidity and trading platform partnerships, and integrate more tokenized cash and Treasury products on EVM networks and Solana. The company stated that it currently has no plans to issue a token.

Nvidia CEO Jensen Huang said data center operator CoreWeave’s financial health is improving. Nvidia is CoreWeave’s computing equipment supplier. Speaking at an event in Stockholm, Huang stated: “CoreWeave’s strength grows stronger every day.” He believes Nvidia does not need to provide financial guarantees for CoreWeave. “I am optimistic. In fact, their cost of capital is declining.” Earlier, credit market confidence in CoreWeave had deteriorated, with concerns rising over its default risk, and Huang is trying to restore market confidence in the company. CoreWeave is a key case testing the sustainability of business models for emerging AI infrastructure firms. These firms emerged to meet the nearly unlimited growth in AI computing power demand as described by companies like Nvidia. Backed by suppliers including Nvidia, CoreWeave and similar entities have taken on large amounts of debt, sparking market concerns about circular financing generating artificial demand.

According to market data from BIT (bit.com), most US-listed cryptocurrency-related stocks turned positive during US trading hours. Circle (CRCL) rose 7.10%, Block (XYZ) gained 3.80%, Strategy (MSTR) rose 3.79%, Coinbase (COIN) gained 3.29%, and BitMine (BMNR) rose 1.71%.

Nasdaq stated it is currently experiencing network issues, which may cause intermittent data gaps for its clients. The firm recommends clients use Chicago-based data sources as a backup.

Jupiter co-founder SIONG announced in a post that Jupiter Labs has launched an experimental high-leverage trading product called YOLO, which offers leverage ranging from 500x to 1000x. The product adopts the JLP model framework, simulating positions based on real market prices, with actual realized profits and losses—no need to execute corresponding leverage positions in the open market. YOLO’s profits are disbursed from a dedicated fund pool. If the fund pool lacks sufficient liquidity to settle profit positions, payouts may be queued instead of processed instantly. SIONG emphasized that this model differs from traditional perpetual contracts, carrying its own unique risks and limitations. He stated that launching YOLO under Jupiter Labs is to provide a testing ground for such new financial products and trading experiences, without the need to adapt to existing offerings. Currently, YOLO remains in the early stage of development, with room for further improvement. The launch was inspired by PaperTrade, he added.