United Stables tops $1B as Chainlink secures U token collateral

source:

[1] United Stables Crosses $1B As Chainlink Data Feeds Secure U Token Collateral (https://bitcoinist.com/united-stables-crosses ...)[2] United Stables surpasses $1B as Chainlink secures U Token collateral with data feeds - Pluang (https://pluang.com/en/news-feed/risiko-tata-k ...)[3] United Stables adopts Chainlink for oracle and cross-chain support after $1B supply milestone - Pluang (https://pluang.com/en/news-feed/united-stable ...)[4] United Stables Picks Chainlink for U Stablecoin Infrastructure - CoinTrust (https://www.cointrust.com/market-news/united- ...)

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Jul 21 2026, 23:07

Robinhood Chain hits 10M daily transactions in first 3 weeks

**Robinhood Chain's early boom could become Arbitrum's next major growth driver — but only if activity survives the expiration of a 90-day gas subsidy that currently makes transacting nearly free.** Robinhood Chain averaged roughly 10 million daily transactions in its first three weeks after the July 1 mainnet launch, with average block times collapsing to about 100 milliseconds, according to Token Terminal data cited by CoinDesk. The Arbitrum Orbit-based layer 2 transfers 10% of its protocol net revenue to the Arbitrum ecosystem — 8% to the ArbitrumDAO treasury and 2% to the Developer Guild — under the Arbitrum Expansion Program, per the official ArbitrumDAO factsheet. "The revenue thesis is a forward-looking one," the Token Terminal analysis noted. "It depends on activity surviving beyond the subsidy, on fee-paying usage replacing subsidized speculation, and on tokenized securities and payments growing into the volumes that speculative trading currently occupies." The chain's daily protocol fees have run at approximately $4,000 during the subsidy period, and FalconX estimated in April that Robinhood Chain could generate about $1.1 million in fees over six months. Ten percent of net revenue on figures that size is not a treasury-moving number for a DAO of Arbitrum's scale. The mechanism is real; the current dollar amounts are not yet meaningful. **Memecoins dominate early activity, not tokenized stocks** Despite being built for tokenized securities, memecoins and stablecoins dominate the network's early composition. DefiLlama data as of mid-July shows only about $12.8 million in tokenized real-world assets against total value locked in the hundreds of millions. The pattern echoes Base's 2023 launch, where speculation arrived first and durable applications later. The chain's DEX volume reached $438.37 million in 24 hours, placing it just behind Ethereum's $455.23 million and ahead of Polygon's $407.93 million, according to DefiLlama. Solana led all chains with $1.3 billion in daily DEX volume. **The real value to Arbitrum may be the blueprint** Robinhood opened its mainnet after a February public testnet that processed more than 200 million transactions, per the Arbitrum Foundation. The company first launched its stock tokens on Arbitrum One in 2025, validated the product on shared infrastructure, then migrated to a dedicated chain — a "launch-and-migrate" model that Arbitrum can pitch to other institutions weighing their own chains. For Arbitrum, a household-name brokerage proving this model at scale is a sales document for every other institution considering its own L2. Each additional Expansion Program chain adds another revenue stream to the same treasury. That compounding pipeline, more than this quarter's fees, is the realistic version of the "Robinhood boosts Arbitrum" story. The competitive stakes are visible elsewhere: roughly 97 percent of tokenized-equity trading currently runs through Solana, per analysis of the network's second-quarter activity. Robinhood Chain is the most credible attempt yet to pull that market onto Ethereum-aligned rails. The key confirmation points come in October, after the subsidy expires. Sustained seven-figure daily activity on paid fees would convert the launch spike into a business. Until then, Robinhood Chain has proven the technology scales and the revenue pipe exists. Whether meaningful money flows through it is a question the coming months will answer. This article is for informational purposes only and does not constitute investment advice.

Jul 21 2026, 22:59

TDC sues Illinois to block 0.2% crypto tax as constitutional challenge mounts

**The Digital Chamber's lawsuit against Illinois' first-of-its-kind digital asset tax tests whether states can single out blockchain transactions for differential taxation.** The Digital Chamber filed a federal lawsuit Tuesday seeking to block Illinois' 0.2% tax on digital asset transactions, arguing the law violates the U.S. Constitution and federal statutes by singling out blockchain-based commerce for discriminatory treatment. "Taxes should be carefully considered, not only for the revenue they produce but for the fairness of those being taxed," Cody Carbone, CEO of The Digital Chamber, said in a statement. "That was not the case here as the provision slipped into legislation the night before the bill's final consideration." The Digital Asset Tax Act, signed by Governor JB Pritzker as part of Illinois' FY2027 budget last month, imposes a 0.2% levy on any entity based in or operating in Illinois that provides digital asset services with gross receipts exceeding $100,000. The tax takes effect in January 2027. The 32-page complaint alleges the law violates the Illinois state constitution's uniformity and due process clauses, the Commerce Clause of the U.S. Constitution, and the Internet Tax Freedom Act, which prohibits discriminatory state and local taxation of electronic commerce. If Illinois' tax stands, other states could follow with similar levies on commerce conducted through emerging technologies, the lawsuit argues, potentially creating a patchwork of state-level crypto taxes that would raise compliance costs for the industry. The court is being asked to declare the law void and unenforceable. **The Constitutional Argument** The lawsuit contends the tax draws an unconstitutional distinction between traditional financial infrastructure and blockchain infrastructure. "The Act does not distinguish between gains and losses, between profitable and unprofitable transactions, between realized and unrealized appreciation, or between transfers that change ownership and transfers that do not," the filing said. "It distinguishes only between traditional financial infrastructure and blockchain infrastructure." Federal law already distinguishes between what an asset represents and the infrastructure used to record ownership, the filing added, arguing that no other body of law makes a distinction tied to the technology that records ownership. TDC, which counts more than 250 members globally including Anchorage Digital, Chainlink Labs and ICE — owner of the New York Stock Exchange — brought the lawsuit on behalf of its members. **Industry and Regulatory Reaction** Commodity Futures Trading Commission Commissioner Michael Selig has criticized the Illinois law, saying lawmakers there have "slammed the brakes on technological progress." The crypto industry has broadly condemned the measure, with some calling it the most punitive digital asset tax in the country. Questions have also emerged about how the tax would be implemented in practice, given that many digital asset transactions occur across state and national borders. The lawsuit asks the court to block Illinois from enforcing the law and award fees and costs to TDC. A ruling against Illinois could set a precedent limiting state-level digital asset taxation across the U.S., while a ruling upholding the law could encourage other states to adopt similar measures. This article is for informational purposes only and does not constitute investment advice.

Jul 21 2026, 22:41

Bitcoin climbs above $66,000 as $130.5M whale transfer fails to halt rally

**A $130.5 million whale transfer failed to derail Bitcoin's rally, with the largest cryptocurrency pushing past $66,000 for the first time since early June.** Bitcoin rose 3.9% to $66,309 as of 14:30 UTC on July 21, recovering from an intraday dip below $64,000 triggered by a $130.5 million whale transfer. The whale moved 2,000 BTC from an unknown wallet to a new address, according to Whale Alert data, briefly pushing the price to $63,750 before buying pressure absorbed the supply within 90 minutes. The rally added roughly $70 billion to the total crypto market capitalization in a single day, CoinGecko data shows. Open interest across Bitcoin futures rose to $37.2 billion, with perpetual swap funding rates remaining near zero at +0.003% — a signature of spot-led demand rather than leveraged speculation, per Coinglass. The $66,000 level now serves as the near-term support floor. A sustained hold above it opens the path to the $70,000 call wall, where roughly 35,000 options contracts sit as the market's largest single position, according to Deribit data. A close back below $63,000 would invalidate the breakout. The move extends a recovery that began after the July 14 US consumer price index print, which showed headline inflation cooling to 3.5% year over year — the largest single-month decline since April 2020. The data pushed the CME FedWatch probability of a July rate hike below 15%, removing a key headwind for risk assets. Spot Bitcoin exchange-traded funds recorded a second consecutive weekly net inflow, ending eight straight weeks of outflows, with BlackRock's IBIT leading on July 17 at $136.5 million in net inflows, according to Bloomberg data. Strategy, the largest corporate Bitcoin holder, disclosed zero BTC sales for the week ending July 19, maintaining its 843,775 BTC position while raising $263.5 million via its at-the-market equity facility. Ether rose 7.2% to $1,912 over the same period, outperforming Bitcoin for a second straight week and lifting the ETH/BTC ratio to 0.0293. Institutional block flows on Ether were 76.4% buy-call one-way, the most directional signal from that cohort in recent months, according to block trade data. The $70,000 level represents the next major test. A break above it on volume would target the $72,000 strike, where roughly 27,000 call contracts are concentrated. The July 31 monthly expiry — with approximately 110,000 Bitcoin call contracts and 33,000 puts outstanding — introduces a gamma event that could amplify price swings into month-end. *This article is for informational purposes only and does not constitute investment advice.*