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first_img Ostium co-founder: two-year agreement revenue of approximately 44.7 million USD, gross profit of 2.96 million USD

The co-founder of the real-world asset perpetual contract protocol Ostium, Kaledora, published a statement explaining the financial and revenue model of the protocol. She stated that approximately $44.7 million in total revenue over two years on Dune comes from four on-chain fees: $20.39 million in opening fees, $16.5 million in spreads, $4.75 million in rollover fees, and $3.35 million in liquidation fees.Of the aforementioned revenue, $22.14 million (49.6%) flows to the OLP treasury, $19.55 million (43.8%) is for liquidity costs, including $16.05 million for hedging and $3.49 million in hedging interest, leaving a gross profit of $2.96 million (6.6%). She noted that the total on-chain revenue does not include off-chain hedging costs, and prior to the liquidity upgrade in April, the protocol did not have the capability to monetize traffic; a security incident occurred just months after the system was upgraded.In terms of financing, Ostium raised $300,000 in 2022, $3.6 million in 2023, $4.1 million in 2024, and $19.4 million in 2025. The team is expected to expand from about 12 people in 2025 to 35 people by the second quarter of 2026, investing in costs related to data authorization, marketing, cloud infrastructure, auditing, and AI. She mentioned that the company has not reserved a balance sheet sufficient to cope with such incidents and that the silence has been too long. The next step will allow the remaining 345 OLP holders to share in business growth, with plans to announce the second phase recovery plan in the coming week.

first_img The Bank of America group sued the OCC, accusing it of overstepping its authority by issuing trust licenses to cryptocurrency companies

The Independent Community Bankers of America (ICBA) filed a lawsuit against the Office of the Comptroller of the Currency (OCC) in federal court on Friday, accusing it of exceeding its statutory authority when issuing national trust bank charters to cryptocurrency companies. The ICBA stated that the OCC is implementing "broad new powers not authorized by the National Bank Act," allowing these companies to enter the U.S. banking system without being subject to the same level of regulatory oversight as community banks, putting small banks at a "serious competitive disadvantage."The ICBA is one of the largest banking advocacy organizations in the United States, primarily representing small institutions. Last month, the organization strongly opposed the Digital Asset Market Structure Bill, which failed to advance in the U.S. Senate, arguing that its stablecoin provisions did not protect community banks from direct competition for deposit accounts. ICBA President and CEO Rebeca Romero Rainey stated that Congress did not establish the national trust charter to provide a "backdoor" for cryptocurrency companies seeking to enter the banking system with the credibility of a federal bank charter, as these companies do not bear the same obligations regarding capital, liquidity, regulation, and Federal Deposit Insurance Corporation (FDIC) insurance requirements. An OCC spokesperson responded to CoinDesk that the agency does not comment on ongoing litigation.Recently, the OCC has continued to issue trust charters to cryptocurrency companies, but these companies' business models differ from those of typical community banks and do not offer cash deposit accounts that require FDIC insurance. Approved institutions include cryptocurrency banks Protego and Erebor, as well as existing cryptocurrency firms like Coinbase, Circle, and Crypto.com.

first_img Spanish police arrested a 16-year-old boy involved in operating the KillSec ransomware group

According to Decrypt, the European Union's law enforcement agency reported that Spanish police arrested a 16-year-old Romanian suspect in Alicante, suspected of being an administrator and main operator of the ransomware group KillSec.Two other suspects in their twenties were arrested in the UK and Romania, respectively; another developer who just turned 18 in August this year has been identified but has not been arrested due to some crimes occurring during their minor years.This operation, codenamed Operation KillSwitch, was led by the Hamburg State Criminal Police and the city's prosecution office, focusing on approximately 1,000 suspected attacks worldwide, with about 500 confirmed as successful intrusions.Law enforcement searched eight locations in Spain, Greece, Romania, and the UK, seized five central servers, and redirected related domain names to seizure announcement pages, while also confiscating at least 110 TB of stolen data.KillSec has been active since around 2024, exploiting software vulnerabilities and poorly secured cloud storage entry points to infiltrate corporate systems, copying internal data and naming victim organizations on dark web leak sites, threatening to publicly release documents to demand cryptocurrency ransoms, and if the target refuses to pay, they release the data for free.The Swiss Federal Police noted that the group also employed double extortion tactics, first encrypting servers and then applying pressure. U.S. prosecutors' charges indicate that a Dutch national residing in the UK, Fouad Eltibrizi (nicknamed Archduke), was indicted by a federal grand jury in Puerto Rico on September 16, subsequently arrested, and awaiting extradition, facing up to 10 years in prison. The European Cybercrime Centre, under the European Union Agency for Law Enforcement Cooperation, is assisting in tracing cryptocurrency funds and conducting digital forensics.

first_img Founder of Theory Ventures: The RWA market's growth rate surpasses AI, becoming the fastest-growing market in the world

The founder of the venture capital firm Theory Ventures, Tomasz Tunguz, stated that the fastest-growing market globally is not AI, but the crypto market formed by real-world assets (RWA) on the blockchain. He noted that RWA enables stocks and commodities like oil and copper to be traded on-chain, taking on almost all public price discovery during commodity exchange closures.Tunguz mentioned that RWA, through perpetual contracts for stocks, provides pre-IPO pricing for Anthropic, OpenAI, SpaceX, and Cerebras, and brings international access channels. He cited data indicating that the perpetual price of Cerebras before its IPO differed from the Nasdaq opening price by less than 1.3%, with SpaceX having a perpetual open interest of approximately $215 million and a cumulative trading volume of about $2.2 billion before its IPO. A report from Pantera Capital in September 2026 showed that the trading volume of perpetual contracts for stocks on Hyperliquid and Lighter reached $67.8 billion in June, which is 16 times that of tokenized stock spot trading.He also stated that stablecoins have become one of the top ten buyers of U.S. Treasury bonds, surpassing China, Norway, and Switzerland, and are used to settle transactions of the aforementioned tokenized assets. Institutions such as JPMorgan, HSBC, BlackRock, Citigroup, Goldman Sachs, Franklin Templeton, Robinhood, and Stripe are advancing RWA.
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