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Crypto

Ondo Finance launches Ondo Network, pitches offchain execution network instead of institutional layer1

Real-world asset tokenisation platform Ondo Finance has launched an offchain execution network called Ondo Network, moving away from plans for an institution-focused layer1 blockchain. Cointelegraph reported that the network processes transactions outside public blockchains and has been applied to the perpetual futures platform Ondo Perps. It runs trading software inside a protected enclave, while operators verify software integrity and share custody of digital keys used to approve transfers.

Crypto

PayPal expands agentic payments and stablecoins; second-quarter revenue beats estimates

PayPal set out stablecoins and AI-based payments as key elements of its strategy after reporting second-quarter results. Cointelegraph reported that PayPal posted revenue of $8.68 billion. Earnings per share were $1.26, down from $1.30 a year earlier and below the market estimate of $1.28. Revenue rose from $8.29 billion and exceeded the market forecast of $8.47 billion.

Crypto

Asia chip stocks plunge hits Wall Street, bitcoin breaks below $63,000

Bitcoin fell below $63,000 as U.S. markets opened, hitting its lowest level in 10 days. Cointelegraph reported that a sharp drop in Asian semiconductor stocks spread to U.S. technology shares, weighing on the cryptocurrency market. The Nasdaq Composite Index fell more than 1 percent, while Micron Technology slid in early trade. South Korea’s KOSPI and SK Hynix tumbled, and Japan’s Kioxia Holdings also dropped. Crypto derivatives markets also weakened.