RaaS #463: Native USDC On Hyperliquid!

Tether Reports $5B+ H1 Profits, Record Year For Fundraising In, and Moar!

Hyperliquid is getting native USDC and CCTP V2 soon. This means fully reserved, regulated USDC will be usable across HyperCore and HyperEVM for trading, DeFi apps, and more. Developers get greater capital efficiency, and institutions get Circle Mint on/offramps.

July was Nillion’s biggest shipping month yet. Mainnet Phase 0 upgrade went live, nilGPT and LouisAI rolled out to early users, Tickr launched to 500+ signups, and ex-Algo CTO John Woods joined the team. Oh, and the 2025 roadmap dropped, making privacy infrastructure feel inevitable.

Web3’s end-to-end encryption is fragmented. Standards like EIP-1024 lacked adoption due to security concerns, and wallets implement encryption inconsistently. Some dApps now use deterministic wallet signatures for portable E2EE. Wen broader adoption?

Everyone wants new crypto apps. But no one’s cracked the format as SocialFi still confuses clout for capital. Privacy hides complexity, not just data. Prediction markets aren’t open. Mobile UX is still desktop cosplay. We’re building for the wrong defaults.

Stable has raised $28M to launch a USDT-native Layer 1 built for stablecoin-based payments. By using USDT as gas, Stable simplifies fees, targets sub-second finality, and aims to replace outdated financial rails with fast, low-cost settlement for global institutions and apps.

Visa is expanding its stablecoin settlement network by adding support for USDG, PYUSD, EURC, and two new chains, Stellar and Avalanche, bringing total support to four stablecoins and four blockchains. This strengthens Visa’s multi-chain, multi-currency foundation for global onchain payments.

Intern has a pretty decent life. Anyone up for a bargain?

Lucid 2.0 is live: a liquidity OS unifying 8 top bridges across 14 chains with sub-10s finality and <$0.05 transfers. It introduces L-USDC/L-USDT (bridge-agnostic stablecoins) and supports all major cross-chain token standards. Lucid Intelligence (via Enso) enables one-tx execution.

Tether issued $20B in new USD₮ YTD, reaching $157B in circulation and $127B in U.S. Treasury exposure, placing it among the top U.S. debt holders. Q2 net profit hit $4.9B, with $5.7B for H1 2025. With $5.47B in equity and major reinvestments, Tether’s role in global dollar access is accelerating.

Most new Bitcoin holders are still in profit, according to a composite age-based index. As the metric approaches +1σ, it suggests underlying market strength and broadly constructive momentum.

Top Gainers: IMAGE, LOKA, AIC, IKA, BNKR.

CoinDesk Indices and SGX launched the iEdge CoinDesk Cryptocurrency Indices, a suite of EU BMR-compliant benchmarks for BTC and ETH, offering real-time pricing and reference rates. Built for institutional use, the indices provide trusted infrastructure for asset managers, ETF issuers, and banks.

Blockworks Research launched a public dashboard tracking launchpad activity across Solana, Base, BNB, and Avalanche. Bonkfun now drives over 60% of revenue, while Zora leads in token count. Volume has shifted from Pumpfun to Bonkfun and Zora, though Pumpfun still holds the highest aggregate token market cap.

Crypto fundraising is on pace for a record year. Projects have raised $20.6B in just 7 months, already exceeding 2024 totals. CB Ventures leads with 44 deals, followed by Animoca Brands (31), while Amber Group, Selini Capital, and a16z crypto close out the top five.

That’s all for today, happy mini Friday!