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Ondo (ONDO) — Onchain News & Whale Tracking

Real-time Ondo whale movements, exchange flows and onchain findings tracked by Lookonchain. 142 updates and counting.

2026.08.21 21:09

Caixin: Part of the funds involved in Star Bridge Capital’s London gold margin call incident were deposited via USDT, making it more difficult for investors to recover their funds.

According to Caixin, Star Bridge Capital (SBCFX) has suffered an abnormal liquidation incident in London Gold trading. After the incident, the platform’s Hong Kong office is now deserted, leaving some investors facing huge losses. Multiple investors revealed that their automated London Gold (XAUUSD) derivative trades on Star Bridge Capital encountered extreme abnormal activity on the evening of August 19: the system automatically generated massive reverse short orders in just 1 to 3 seconds, followed by a rapid rise in international gold prices, leading to collective account liquidations—some accounts were wiped out entirely, while others even showed negative balances. London Gold liquidation refers to the trading risk where, due to a position direction opposite to gold price movement and leverage amplifying losses, an investor’s account available margin is exhausted and falls below the maintenance margin ratio, resulting in forced liquidation by the platform and total loss of principal. Affected investors estimate the incident involves approximately 2,000 to 3,000 people, including a large number of mainland Chinese investors. Currently, some investors have filed reports with Hong Kong police, demanding the platform refund 70% of their principal in accordance with its previously promised rule of “maximum loss of 30%”. Some investors noted that Star Bridge Capital offered up to 500x leverage, and some funds were deposited via USDT stablecoins, which has increased the difficulty of tracking the funds. Public information shows that Star Bridge Capital’s business scope covers foreign exchange, commodities, indices, cryptocurrencies, etc., and it publicly claims to be a licensed and compliant international trading platform. (Caixin)

2026.07.28 00:02

Ondo Abandons Independent Public Blockchain Roadmap, Launches New Execution Network to Build On-Chain Architecture with Exchange-Grade Performance

Ondo Finance has announced the launch of its new Ondo Network, a high-performance execution layer designed to combine centralized exchange (CEX)-level transaction speed with the non-custodial, secure settlement capabilities of blockchain. Ondo CEO Ian De Bode stated that the Ondo Network is an evolved version of the original Ondo Chain plan. The company will not operate two separate networks; instead, it has adjusted its roadmap from building a full blockchain to focusing on an execution layer architecture. According to the introduction, Ondo initially planned to comprehensively tokenize real-world assets (RWAs) via Ondo Chain. However, after developing the Ondo Perps perpetual contract trading platform and communicating with users, the company found that the core bottleneck in the current market is not asset settlement, but transaction execution efficiency. The Ondo Network adopts a modular architecture that separates execution, validation, and settlement. It uses secure hardware-isolated execution environments to boost transaction speed while retaining key blockchain features: user self-custody of assets, verifiable transactions, and permissionless access. Currently, Ondo Perps is the first application built on this network, supporting 24/7 trading of perpetual contracts for stocks and commodities, and allowing tokenized real-world assets to be used as collateral. Ondo added that the network will also support other high-performance, privacy-protective, verifiable execution applications in the future, such as spot trading, lending, and structured products. Additionally, the launch of Ondo Network will not change the positioning of the ONDO token. The CEO said that ONDO will remain the governance and incentive token for Ondo’s RWA ecosystem and market infrastructure. As the network gradually decentralizes, ONDO will be used to coordinate the incentive mechanisms for validators, observers, and other ecosystem participants.

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