PumpFun deposited 67,482 SOL valued at about $4.51 million to Kraken, continuing its treasury liquidation trend, according to Lookonchain. The meme coin launchpad has now offloaded a cumulative 4.53 million SOL worth about $784.7 million at an average execution price of $173 per token.

A US appeals court has rejected Sam BankmanFried's bid for a new trial in the FTX fraud case, keeping the existing conviction in place. The ruling leaves the current trial outcome unchanged and marks the latest court decision in the ongoing legal proceedings tied to FTX's collapse.

Avalanche Treasury Co. made a rough start on Nasdaq on Thursday, opening at $2.99 and finishing its first session at $1.85 under the ticker AVAT, a 38% slide. Shares touched an intraday low of $1.75. The drop is striking given the vehicle was marketed at roughly 0.77x mNAV, implying about a 23% structural discount versus buying AVAX directly. The timing has also worked against the deal: AVAX itself is trading around $6.6, down 33% over the past month and more than 95% below its all-time high, as the broader altcoin market endures one of its weakest stretches in two years. AVAT reached public markets via a $675 million SPAC merger with Mountain Lake Acquisition Corp., announced in October 2025. The company says it is not intended to function as a passive token-holding proxy. Instead, it aims to operate an active crypto treasury, allocating capital across the Avalanche ecosystem. At launch, AVAT reported holding about 15 million AVAX tokens—around 3.5% of circulating supply—supported by an initial treasury capital base of $460 million. It also secured an exclusive arrangement with the Avalanche Foundation for discounted AVAX purchases, along with an 18-month priority window on Foundation token sales to U.S. institutional crypto vehicles. CEO Bart Smith, formerly of Susquehanna and AllianceBernstein, has positioned AVAT as an institutional operating business rather than a simple AVAX tracker, stating: "It is not a bet on price. We believe it is an investment into Avalanche that represents meaningful potential for the repositioning of institutional finance." The gap between that narrative and a $1.85 close highlights how quickly sentiment has turned. With AVAX at $6.6, the treasury's mark-to-market value has already moved materially against the company before any ecosystem deployments are executed. The "active allocator" thesis will likely require time and a visible pipeline of deals to gain credibility with public-market investors. On the chart, traders are watching $6.00 as a near-term floor. A weekly close below that level would put the $5.20–$5.40 zone in focus, the last notable demand cluster before prices revisit territory not seen since late 2020. Overhead resistance sits near $7.80, where AVAX briefly consolidated in May. A sustained reclaim of $8.50 on strong volume would shift the short-term setup from broken to neutral, while heavier resistance around $10.50 aligns with the 2025 accumulation band and would likely require a broader improvement in altcoin sentiment. Weekly RSI remains in oversold territory, resembling conditions seen ahead of AVAX's 2023 recovery, but that historical parallel depends on macro and market tailwinds that have not yet re-emerged. For now, the technical structure remains damaged; a close above $8.20 is viewed as the minimum threshold to challenge that assessment.

Sam Bankman-Fried has failed in his latest attempt to overturn his fraud conviction and 25-year prison sentence, with his bid denied.

Sam Bankman-Fried has lost his bid to overturn his fraud conviction and 25-year prison sentence, Reuters reported.

Ethena Labs is set to invest $250 million in Securitize's Tokenized AAA CLO Fund (STAC), according to a report citing The Block. The fund is already live on Solana. Issued by Securitize in partnership with BNY Mellon, STAC invests in U.S. dollar–denominated, AAA-rated collateralized loan obligations (CLOs). It currently manages about $102 million in assets, posts a seven-day annualized yield of roughly 2.42%, and charges a 0.3% management fee. Ethena said the allocation is intended to broaden the collateral base supporting USDe and USDtb, shifting part of its backing from crypto-native positions toward institutional-grade real-world assets. The firm is also working with managers including Janus Henderson to add its AAA-rated CLO fund, JAAA, to the USDe reserve portfolio.

Huoxing Finance cited Arkham monitoring data showing that, ahead of SpaceX (SPCX)'s listing, traders have put a combined $276 million on directional bets. On the long side, wallet 0x9cc opened a $33.8 million position, followed by 0x4e2 with $6.4 million. Wallet 0x932 (linked to "bd420") took $4.1 million, 0xf47 took $3.2 million, and qianbaidu.eth opened a $2.1 million long. On the short side, wallet 0x051 (believed to be Dunamis Trading) opened a $7.9 million position. Wallet 0x012 (linked to "wenyu888888") shorted $6.7 million, 0x69c shorted $6.6 million, VBVIT on Poly/HL shorted $6.3 million, and 0x60a opened a $6 million short.

Dinari has expanded its dShares catalog to the Avalanche CChain, offering 24 7 access to tokenized U S equities for users in more than 85 countries. The rollout brings over 350 stocks, ETFs and REITs onchain, with each dShare backed 1 to 1 by underlying securities held in regulated custody to preserve shareholder rights and corporate actions.

Metaplanet said it acquired a Japanese securities firm for 13 million dollars as it prepares to launch Bitcoin yield products. The company framed the deal as a step to expand regulated financial offerings tied to Bitcoin and to build out its product lineup in Japan.