Step Finance, the decentralized finance (DeFi) dashboard once described as the “front page of Solana,” has announced it will wind down all operations following a $26 million hack earlier this year. In a statement posted on X on Feb. 23, the team behind Step Finance, SolanaFloor, and Remora Markets said it had explored “every possible path forward, including financing and acquisition opportunities,” but ultimately failed to secure a viable outcome. The team added that buyback and redemption plans are now ...

BOCA RATON, FL, Feb. 23, 2026 (GLOBE NEWSWIRE) -- DeFi Development Corp. (Nasdaq: DFDV) (the “Company”), the first public company with a treasury strategy built to accumulate and compound Solana (“SOL”), today announced the publication of its latest research piece, "SOL and the Digital City: A New Way to Value Layer 1 Tokens," introducing a valuation framework for SOL that departs from traditional revenue multiples, DCFs, and the monetary equation of exchange. The essay argues that conventional valuation to ...

Aave’s civil war has its first casualty. Bored Ghosts Developing, a company hired by digital cooperative Aave DAO to provide software development services for the world’s largest decentralised finance protocol, said on Friday it would not seek renewal of its contract in April. And it blamed Aave Labs, the creator of the that protocol. In a lengthy post on Aave’s governance forum, Bored Ghosts said it could not continue to work on the latest version of the protocol while Labs attempts to push users to a ...

Group 1 - DeFi Development Corp. is the first US public company with a treasury strategy focused on accumulating and compounding Solana (SOL) [1][4] - The company will publish its fourth quarter and full year 2025 financial results and business outlook on March 30, 2026 [1] - A video update featuring key executives will be available on March 31, 2026, addressing strategic highlights and answering pre-submitted questions from investors [2] Group 2 - The company's treasury policy allocates its principal holding to SOL, providing investors with direct economic exposure to the asset [4] - DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake [4] - The company is actively engaged in decentralized finance (DeFi) opportunities and is exploring innovative ways to support the Solana ecosystem [4]

Group 1 - DeFi Development Corp. is the first US public company with a treasury strategy focused on accumulating and compounding Solana (SOL) [1][4] - The company will publish its fourth quarter and full year 2025 financial results and business outlook on March 30, 2026 [1] - A video update featuring key executives will be available on March 31, 2026, addressing strategic highlights and answering pre-submitted questions from investors [2] Group 2 - The company's treasury policy allocates its principal holding to SOL, providing investors with direct economic exposure to the cryptocurrency [4] - DeFi Development Corp. operates its own validator infrastructure, generating staking rewards and fees from delegated stake [4] - The company is actively engaged in decentralized finance (DeFi) opportunities and is exploring innovative ways to support the Solana ecosystem [4]

Core Insights - BlackRock has entered the decentralized finance (DeFi) space by making its tokenized U.S. Treasury fund, BUIDL, tradable on Uniswap, marking a significant step for the asset manager [1][2] - BUIDL is the largest tokenized U.S. Treasury fund with nearly $2.2 billion in total value locked, fully backed by U.S. Treasury bills and cash, providing on-chain yield [2] - BlackRock has made a strategic investment in Uniswap and purchased an undisclosed amount of UNI, Uniswap's governance token, which saw a 25% increase following the announcement [1][2] Company and Industry Developments - BlackRock partnered with Uniswap Labs and Securitize to facilitate the regulatory and compliance aspects of tokenizing real-world assets, with BUIDL shares available through UniswapX [3] - The collaboration aims to enhance the interoperability of tokenized USD yield funds with stablecoins, as stated by BlackRock's global head of digital assets [4] - Uniswap, as the largest decentralized exchange on Ethereum, allows users to trade assets directly from their wallets, and the integration of BUIDL expands its offerings to include tokenized government bonds [5]

Core Insights - The corporate digital asset sector is experiencing a structural bifurcation between "Passive Accumulators" and "Active Allocators" with the emergence of compliant lending pools enabling corporate treasuries to act as on-chain liquidity providers [1] Group 1: Black Titan Corporation (BTTC) and the "Active Treasury" Pivot - Black Titan Corp has initiated the deployment phase of its "Digital Asset Treasury Plus" (DAT+) strategy after closing a $200 million convertible note facility [1] - BTTC is focusing on a "Net Interest Margin" (NIM) strategy, allocating a portion of its stablecoin treasury to capture DeFi Base Rates of approximately 8-12% while maintaining a lower cost of capital on convertible debt [1] - This strategy diverges from MicroStrategy's model, as BTTC aims for Yield-per-share accretion through active liquidity provision rather than passive asset accumulation [1] Group 2: Institutional Infrastructure and Enabling Rails - Coinbase's L2 network, Base, has solidified its role as a regulated distribution layer, with increased activity in the "Coinbase Prime Web3 Wallet" interacting with whitelisted smart contracts [1] - The Morpho protocol has emerged as the primary venue for Corporate DAT execution, featuring a modular architecture that supports permissioned markets [1] - The acceptance of Tokenized U.S. Treasury Bills as collateral in permissioned vaults is a significant development, allowing DAT issuers to borrow stablecoins against low-volatility collateral [1] Group 3: Market Interpretation and Yield Arbitrage Thesis - A fundamental shift is occurring in how public capital interacts with decentralized finance, with public companies accessing capital through traditional markets at a cost of approximately 3-5% and deploying it into the digital economy for yields of 8-12% [1] - Protocols that provide audit-ready infrastructure, such as Base and Morpho, are capturing significant institutional flows by bridging the gap between traditional and digital economies [1]

While major cryptocurrencies have declined over the past two weeks, Hyperliquid's price has posted a defiant double-digit rally over the same period, a divergence analysts attribute to its fundamental utility and reduced token supply pressure rather than speculative hype. HYPE’s performance follows two key developments for Hyperliquid: a major institutional partnership and a drastic reduction in its monthly token supply unlock. Hyperliquid’s HYPE token is up 41.5% over the past two weeks. It surged over ...

Core Insights - A loan backed by approximately 2.3% of the total AAVE supply is being liquidated amid a significant market pullback, with around $2 million in AAVE collateral seized to cover nearly $2 million in USDC debt [1][2] - The initial collateral for the loan was about $28.4 million worth of AAVE, which has decreased significantly due to market conditions [2] - AAVE's current trading price is $105.60, reflecting a 15% decline on the day, alongside major cryptocurrencies like Bitcoin and ETH, which also experienced substantial losses [3] Loan and Liquidation Details - The loan was overcollateralized with 355,093 AAVE tokens and was liquidated in multiple transactions as AAVE's price fell [2] - The loan's collateral ratio is approximately 132%, with a health factor around 1, indicating it is at risk of further liquidation if market conditions do not improve [5][6] - Liquidations occur when the "Health Factor" drops below 1, allowing anyone to liquidate a position by repaying part of the debt in exchange for collateral at a discount [5] Borrower Information - The borrower initially deposited about $8.73 million worth of AAVE in 2024 and has taken out and repaid USDC loans multiple times since then [6] - Speculation exists regarding the identity of the borrower, with some suggesting it may be Stani Kulechov, the founder of Aave, although he has denied this claim [7]

Core Insights - DeFi Development Corp. has announced that its liquid staking token, dfdvSOL, is now listed as collateral on Jupiter Lend, enhancing its utility within the Solana ecosystem [1][2] Company Overview - DeFi Development Corp. is the first US public company with a treasury strategy focused on accumulating and compounding Solana (SOL) [1] - The company operates its own validator infrastructure, generating staking rewards and fees from delegated stake, while actively participating in the growth of the Solana ecosystem [5] Product and Market Integration - dfdvSOL holders can borrow against their positions with loan-to-value ratios of up to 92% and a liquidation threshold of 93%, allowing for leveraged strategies with a maximum multiplier of 12.49x [3] - The integration with Jupiter Lend allows users to unlock liquidity from their staked SOL exposure, significantly expanding the utility of dfdvSOL across decentralized finance markets [2][4] Strategic Goals - The listing of dfdvSOL on Jupiter Lend is seen as a major step in establishing it as a core component of Solana DeFi, enabling capital-efficient lending strategies [4] - The company aims to enhance capital efficiency on its balance sheet and strengthen its presence within the Solana ecosystem through the expanded deployment of dfdvSOL across DeFi protocols [4]