The industry-owned network is still selecting a technology partner and would support tokenized deposits, stablecoins, smart payments and automated settlement.

Only the Mag7X strategy is active at launch, holding four Coinbase-issued stock tokens; two additional Bitwise models remain marked ‘coming soon.’

Nikita Bier left the role on Aug. 5. No X corporate account has ever announced a trading feature, and Bier said in February that the company is not handling trade execution.

Bitcoin touched $79,999.99 on Coinbase before easing, its highest level since May, while 80 of the 123 largest non-stablecoin tokens fell on the day. Total crypto market value declined even as bitcoin rose.

Four tokens covering Nvidia, Apple, Meta and Alphabet went live for non-US users, with about $4.5 million minted and $3 million of DEX liquidity on day one. Chainlink price feeds run 24/5 while the tokens trade 24/7.

Bitcoin gained 22.6% over seven days, its largest advance over any seven-day window since November 2024, after the president told crypto executives at the White House that Congress needs to pass market structure legislation.

Official materials name Circle and 11 founding validators, while an Arc documentation page describes approximately 20 validators at launch.

The president said CFTC Chair Michael Selig is working to bring the geoblocked perpetual futures venue into the US "in a fully compliant and legal fashion," sending HYPE and Hyperliquid Strategies shares up and CME and Cboe down.

Sid Powell, CEO and co-founder of Maple Finance, joins Chris Storaker on the Converge Podcast

Ether gained 9% and total crypto market value rose 5.1% after the U.S. Treasury said it would at least double the size of its long-dated bond buybacks. Short positions accounted for 91% of the day's liquidations.