🥞 HashStack #025 is live. CFTC approved spot crypto trading on registered exchanges, Ethereum's Fusaka upgrade boosted capacity 8x, and Base bridged to Solana. Strategy built $1.44B reserves for 650K BTC target while BlackRock filed for staked ETH ETF. Ripple launched RLUSD in Singapore as ECB plans digital euro by 2029. RWA adoption accelerates as Pineapple migrates $10B mortgages onchain and Superstate enables direct stock issuance on Ethereum/Solana. Kraken acquired Backed Finance while Digital Asset raised $50M from BNY Mellon and Nasdaq. HashStack #025 breaks it all down: 🧵👇

Notable Fundraising & Acquisition & Exits → Cascade, a 24/7 crypto brokerage firm, has raised $15M from investors like Polychain Capital, Coinbase Ventures among others. → Magma Finance, a decentralized trading and liquidity platform on Sui, raised a $6M led by HashKey Capital. → AllScale, a self-custody stablecoin neobank, raised a $5m seed round led by YZi Labs. → Crown, a Brazilian stablecoin issuer for BRLV, raised a $13.5M Series A round led by Paradigm. → Digital Asset, the creator of the Canton Network, raised $50M strategic investment from BNY Mellon, iCapital, Nasdaq and S&P Global. → Ostium, a decentralized exchange for RWA perps, raised a $20M Series A led by General Catalyst and Jump Trading. → Backed Finance, the issuer of xStocks, has been acquired by Kraken. → Fin, a stablecoin payment firm, raised a $17M Series A led by Pantera Capital.

Portfolio Highlights / Updates → Avail Nexus mainnet went live. → Altlayer joins Coinbase’s x402 ecosystem offering a suite that includes gateway, facilitator and agent hosting. → Polyhedra introduced Ocash, a privacy-first open cash system. → Cysic’s airdrop checker is live. → Theoriq launched Alphavault, an AI-curated ETH vault, offering THQ as rewards. → Brevis powers Pancakeswap’s incentivised pools, enabling verifiable LP rewards using its zk stack. → Stakestone unveiled Stone Wallet, an all-in-one smart wallet, with yield built in. → Babylon partnered with Aave to build the first native BTC-borrowing on Aave v4, enabling BTC lending/borrowing without wrappers and bridges. It also partnered with Ginco Enterprise Wallet to enable institutions in Japan to stake their Bitcoin directly from cold storage. → Blockdaemon partnered with VerifedX to build mass-market DeFi.