Fiona Murray, Ripple’s managing director for Asia Pacific, said the deal reflects growing momentum across Korea’s institutional financial sector, with banks building digital asset capability and looking for long-term infrastructure partners. Regional banks play a vital role in the real economy, she said.
The company has spent the past year pushing $RLUSD, the dollar-pegged token it issues, as the settlement asset for institutional work. CoinDesk asked Ripple which asset the Jeonbuk deployment uses and did not immediately receive a reply.
That distinction helps explained why a steady run of Ripple partnerships has done little for the token.
$XRP traded above $3 at last year’s highs and has spent August drifting toward and now through $1, while Ripple has been signing asset managers, custodians and banks.
The same split shows on Ripple’s own ledger. Tokenized real-world assets on the $XRP Ledger are worth about $1.38 billion, as CoinDesk reported earlier in the month, of which $845 million is $RLUSD. The stablecoin accounts for more than three fifths of everything issued there.
Meanwhile, traders are betting the price turns anyway. Futures open interest stood at about $2.78 billion this week, with more than three accounts holding long $XRP positions for every one holding a short on Binance and a similar ratio on OKX, even as commentary about the token across social channels turned its most negative in three months.
“$57,000 is a key region to watch. If Bitcoin trades down into that area, we could see a massive wave of long liquidations,” Joao Wedson, CEO of crypto analytics platform Alphractal, said.
The risk is amplified by thin trading volumes. As CoinDesk reported Monday, the number of active contracts is unusually large relative to trading volume. That combination matters a scenario, where a large batch of leveraged longs get liquidated and thin order books make it harder to absorb those liquidations at stable prices. The result could a sharper, faster drop rather than a orderly pullback.
The question is whether $BTC will fall to $57,000.
Past crypto bear cycles have seen severe crashes of 76% to 84%. The latest one, which began at highs above $126,000 last October, has so far only cut prices in half. If history is any guide, there may be another leg lower still to come.
Analysts at crypto exchange Bitfinex noted that bitcoin is showing mid-to-late bear market characteristics, with price trading between the long-term holder realized price of $52,699 and the short-term holder realized price of $67,176. The realized price median, near $63,200, has provided support over the past two weeks; a break below that level could put the June low of $57,803 back in focus.
A Solana whale address that had remained inactive for nearly two years has resurfaced, purchasing 47,535 $SOL worth approximately $3.6 million, according to blockchain tracking platform Lookonchain. The transaction marks a notable return for an investor who previously capitalized on Solana’s price swings in 2023.
Whale’s Historical Trading Pattern
Lookonchain data reveals that the wallet, identified by the prefix GvHYQQ, accumulated a total of 291,790 $SOL during market downturns in August and October 2023, when the average price was $23.37. During the subsequent rally, the whale sold 191,789 $SOL at an average price of $128.36, realizing profits exceeding $20 million. This recent purchase suggests a renewed interest in Solana, possibly reflecting confidence in the network’s current fundamentals or market conditions.
Context and Market Implications
Whale activity often garners attention from retail investors and analysts as large transactions can influence market sentiment and liquidity. While a single purchase of this size is not enough to significantly alter Solana’s price, it may signal that high-net-worth individuals are positioning for future gains. Solana has experienced volatility in recent months, with price movements tied to broader crypto market trends, network developments, and macroeconomic factors.
Why This Matters to Investors
For everyday investors, tracking whale movements can offer insights into potential market directions, but it is not a reliable predictor. The whale’s previous success underscores the importance of timing and patience in crypto investing, but it also highlights the risks involved—the same strategy could have resulted in significant losses if the market had moved differently. This event adds to the ongoing narrative of institutional and high-net-worth participation in digital assets, which may influence regulatory discussions and mainstream adoption.
Conclusion
The return of this dormant whale to the Solana market is a noteworthy data point for on-chain analysts and crypto enthusiasts. It demonstrates the potential for substantial returns in volatile markets, while also reminding investors of the speculative nature of cryptocurrency trading. As with all market movements, due diligence and risk management remain essential.
FAQs
Q1: Who is the whale that bought $SOL? The whale is an anonymous cryptocurrency address beginning with GvHYQQ, tracked by Lookonchain. The identity of the owner is unknown.
Q2: How much profit did the whale make previously? According to Lookonchain, the whale sold 191,789 $SOL at an average price of $128.36, realizing over $20 million in profit from an initial investment made at an average price of $23.37 per $SOL.
Q3: What does this whale activity mean for Solana’s price? A single large purchase may create short-term sentiment shifts, but it does not guarantee future price movements. Investors should consider broader market conditions and not rely solely on whale transactions.
Jeong Sang-ho, the chief executive of the South Korean digital-asset deposit platform Delio, has formally appealed the 15-year prison sentence handed down in the first trial on fraud charges linked to approximately 70 billion won (around $51 million) in customer digital assets. The appeal, filed on Aug. 14 with the Seoul Southern District Court, was confirmed through the Supreme Court’s case search system on Aug. 16. This legal move prolongs a case that has already drawn significant public attention and raised questions about the regulation of crypto deposit services in South Korea.
Background: The Collapse of Delio and Its Aftermath
Delio, once promoted as a leading crypto deposit platform, abruptly suspended withdrawals in June 2023, leaving thousands of customers unable to access their funds. The suspension triggered a wave of complaints and legal actions, as well as broader scrutiny of the unregulated crypto deposit sector. The company had marketed itself with rhetoric emphasizing stability, including references to being a ‘crypto bank,’ which the court later criticized as excessive and misleading.
The first-trial ruling, delivered on Aug. 13 by the 11th Criminal Division of the Seoul Southern District Court, sentenced Jeong to 15 years in prison and ordered his immediate remand. The court found that Delio had consistently shifted blame to other companies and avoided responsibility for the losses, while failing to protect customer assets. The sentencing came two years and three months after the initial indictment, reflecting the complexity of the case and the challenges of prosecuting crypto-related fraud.
Legal Implications and the Road Ahead
With the appeal now filed, the case will move to a higher court, likely the Seoul High Court, where a panel of judges will review the first-instance decision. The appeal process could take several months or longer, depending on the court’s schedule and the arguments presented by both the defense and the prosecution. For the victims, this means a further delay in any potential compensation or restitution, as the final resolution of the criminal case is a prerequisite for civil claims.
Legal experts note that the appeal is a standard procedural step in serious criminal cases, especially those involving significant prison sentences. The defense may argue that the sentence is excessive or that the court erred in its factual findings, particularly regarding the intent to defraud. The prosecution, on the other hand, is likely to defend the original ruling, emphasizing the scale of the losses and the impact on victims.
Why This Case Matters for the Crypto Industry
The Delio case is one of the most prominent crypto fraud cases in South Korea, a country with a high rate of digital asset adoption. The outcome could set a precedent for how courts treat similar cases involving deposit platforms and other crypto intermediaries. It also highlights the regulatory gaps that allowed such platforms to operate without clear oversight, a concern that has prompted lawmakers to consider stricter legislation.
For investors and users of crypto deposit services, the case serves as a cautionary tale about the risks of entrusting digital assets to platforms that promise high returns or stability without proper regulatory safeguards. The prolonged legal battle also underscores the importance of due diligence and the need for clearer consumer protections in the evolving crypto landscape.
Conclusion
Jeong Sang-ho’s appeal of his 15-year sentence marks another chapter in a case that has already had a significant impact on South Korea’s crypto industry. As the legal process continues, the focus remains on the victims who have yet to recover their funds and on the broader lessons for regulators and market participants. The final outcome of this appeal will be closely watched, not only for its implications for Jeong but also for the future of crypto regulation in the country.
FAQs
Q1: What was Delio and why did it suspend withdrawals? Delio was a South Korean digital-asset deposit platform that allowed users to earn interest on their crypto holdings. It suspended withdrawals in June 2023, citing operational issues, leaving customers unable to access their funds. The suspension led to investigations and eventually criminal charges against its CEO, Jeong Sang-ho.
Q2: What are the specific charges against Jeong Sang-ho? Jeong was indicted on charges including fraud, related to the loss of approximately 70 billion won in customer digital assets. The court found that Delio had misrepresented its stability and shifted blame to other companies, failing to take responsibility for the losses.
Q3: What happens next in the appeal process? The appeal will be reviewed by a higher court, likely the Seoul High Court. Both the defense and prosecution will present their arguments, and the court will issue a new ruling. This process can take several months, and the final decision could be appealed again to the Supreme Court.
Payward, the parent company of cryptocurrency exchange Kraken, joined Anthropic’s Project Glasswing on Aug. 17 and gained restricted access to Claude Mythos 5 for defensive cybersecurity work.
The company plans to use the artificial intelligence model to scan its software environments for vulnerabilities over the coming weeks. Findings will enter Payward’s existing security review process rather than automatically producing software changes.
Payward also said it intends to disclose validated vulnerabilities affecting third party open source projects to their maintainers. The company did not identify its first scanning targets, publish a deployment schedule or disclose the cost of its Mythos 5 access.
Payward will scan its software environments
Payward said Claude Mythos 5 will examine all company environments for software weaknesses. Its infrastructure supports digital asset trading, custody and settlement services that remain available continuously.
The announcement does not specify whether Mythos 5 will receive access to production systems, isolated copies of source code or controlled testing environments. Payward also did not describe how its security team will validate findings before approving fixes.
Payward has joined @AnthropicAI’s Project Glasswing, and are actively incorporating Claude Mythos 5, Anthropic’s most capable model for finding and fixing software vulnerabilities, into our defensive cybersecurity work. pic.twitter.com/37qOkAIGeQ
— Payward (@Payward) August 17, 2026
False positives remain a practical concern when artificial intelligence systems review complex software. A model may identify unreachable code, duplicate an existing report or misunderstand how a component operates in production. Human review is therefore required before teams classify an issue as a vulnerability.
The Ethereum Foundation reached a similar conclusion while testing AI security agents. As crypto.news reported, its researchers found that AI generated vulnerability reports still required independent human validation, particularly when agents examined complex protocol code.
Payward cochief executive Arjun Sethi said AI could change the imbalance between attackers and defenders by reading code at greater scale.
“A model can read every line of code the way an attacker would, at machine scale, so we find the flaw before anyone can build the exploit,” Sethi said.
The statement describes Payward’s intended defensive advantage. The company has not yet published results showing how many valid flaws Mythos 5 found within its systems.
Project Glasswing restricts access to vetted partners
Anthropic launched Project Glasswing in April 2026 to give selected infrastructure providers and software maintainers early access to its strongest cybersecurity models.
Initial participants included Amazon Web Services, Apple, Cisco, CrowdStrike, Google, JPMorganChase, Microsoft, Nvidia, Palo Alto Networks and the Linux Foundation. Anthropic later expanded the initiative to approximately 150 organizations across more than 15 countries.
The company says participating organizations must meet security requirements before receiving access. Mythos 5 is not generally available because the same capabilities used to identify vulnerabilities can also help produce working exploits.
As previously reported, Anthropic restored Mythos access only to vetted U.S. organizations after the U.S. government lifted temporary export restrictions. The safeguarded Claude Fable 5 model returned to wider availability.
Payward said its access followed the U.S. decision allowing Mythos 5 to reach organizations that operate and defend critical infrastructure. Anthropic’s official model page confirms that access was restored for a set of U.S. organizations following government approval.
Neither Anthropic nor the U.S. government has publicly designated every digital asset platform as critical infrastructure. Payward’s statement that such platforms “belong on that list” represents the company’s position rather than a formal government classification.
Claude Mythos 5 carries defensive and offensive risks
Anthropic describes Claude Mythos 5 as its most capable model for cybersecurity and biology research. The model can inspect code, identify weaknesses, suggest patches and assist approved researchers with testing exploit paths.
Project Glasswing’s earlier Mythos Preview reportedly found more than 10,000 flaws classified as high or critical severity across widely used software. Anthropic’s coordinated disclosure dashboard showed 1,596 vulnerabilities reported across 281 open source projects as of May 22.
Those figures are Anthropic’s measurements and do not mean every initial model finding was valid. Its dashboard recorded a 90.8% true positive rate among 1,900 candidates reviewed by external security firms.
Anthropic said independent human triage remains the limiting stage. Only 97 listed findings had been patched upstream at the time of the dashboard update, while 88 had received a public advisory identifier.
The model can also create exploit components and combine them into attack chains. Anthropic cited this dual use capability when explaining why Mythos 5 remains limited to approved partners.
In related coverage, researchers found that Mythos class models could turn software flaws into working exploit chains. Wider access would therefore give attackers some of the same capabilities available to defenders.
Open source findings will go to maintainers
Payward said vulnerabilities discovered in shared third party code will be sent to the relevant project maintainers. It presented that process as a way to protect other organizations using the same software.
The company did not publish a coordinated disclosure policy for the initiative. Important unanswered details include how long maintainers will have to patch flaws, which findings Payward may disclose publicly and how it will handle projects that do not respond.
Responsible disclosure normally requires researchers to verify a vulnerability, contact the maintainer privately and allow time for remediation before releasing technical information. Premature publication can expose users before a patch becomes available.
Payward has previously faced disputes over security research. As crypto.news reported, Kraken patched a deposit flaw that researchers used to withdraw nearly $3 million. The exchange later recovered the funds following a public disagreement with CertiK.
That episode was unrelated to Project Glasswing, but it shows why clear testing and disclosure rules matter. AI scanning can increase the number of reported findings, creating additional work for security teams and maintainers.
What happens next for Payward’s AI security rollout
Payward plans to begin scanning its environments within weeks. The next verifiable updates would include confirmed vulnerabilities, completed patches or public disclosures coordinated with affected open source projects.
No performance targets were announced. Payward did not say how frequently Mythos 5 will scan its systems or whether the model will review new code before deployment.
Anthropic requires Mythos 5 customers to accept thirty day data retention for safety monitoring. Payward has not explained what code or system information will be submitted, how sensitive data will be separated or whether customer information falls outside the scanning process.
For now, the confirmed development is Payward’s admission to Project Glasswing and planned use of Claude Mythos 5. Whether the model improves the company’s security will depend on the quality of its findings, human verification and the speed of subsequent patches.
Jane Street reported $990 million in Bitcoin exchange-traded funds in its Q2 2026 Form 13F filing with the SEC.
The allocation is equivalent to 15,394 $BTC, concentrating $828 million in BlackRock’s iShares Bitcoin Trust (IBIT) ETF.
The company recorded over $40 billion in net trading revenue so far in 2026.
Quantitative trading firm Jane Street reveals a nearly $1 billion position in Bitcoin ETFs, reaching an institutional holding equivalent to 15,394 $BTC during the second quarter of 2026.
According to the regulatory filing submitted to the U.S. Securities and Exchange Commission (SEC), the firm accumulated $990 million distributed across major spot investment vehicles. Official documentation details that the majority of the capital went into the iShares Bitcoin Trust (IBIT) fund, managed by BlackRock, with an allocated sum of $828 million. The remainder of the position was structured through holdings in instruments such as Fidelity’s Wise Origin Bitcoin Fund and Grayscale’s Bitcoin Trust.
The entity does not custody the cryptocurrencies directly in digital wallets. Its exposure operates strictly through shares of regulated exchange-traded vehicles listed on U.S. markets.
Portfolio Structure and Institutional Financial Balance
The data disclosed in Form 13F coincides with a period of high activity for the market maker. Financial reports from Bloomberg indicate that Jane Street generated over $40 billion in net trading revenue so far in 2026, surpassing the $39.6 billion achieved throughout the entire 2025 fiscal year.
Despite the overall volume, the company faced approximate losses of $15 billion during July 2026. This monthly setback stemmed from adjustments in Asian equity positions and its exposure to funds linked to artificial intelligence infrastructure.
Industry analysts point out that high-frequency trading firms use these instruments to execute liquidity arbitrage between the spot market and derivatives contracts. Data from the Fintel platform shows that other institutional participants, including Susquehanna International Group, maintain parallel stakes in cryptocurrency exchange-traded funds.
BlackRock’s IBIT fund exceeded $47.3 billion in assets under management by mid-August 2026. According to SEC records, state pension managers and investment firms such as Tudor Investment Corporation and Edelman Financial also reported exposure to these financial derivatives in their recent quarterly filings.
The next Form 13F filing window with the SEC closes in mid-November 2026, when institutional holdings for the third quarter of the year will be updated.
The Monad Foundation recently offered to purchase locked-up $MON tokens directly from early investors at a discounted price, but the majority of those eligible chose not to sell. According to the foundation, the total purchase size amounted to $60 million, and the $MON it acquired remains subject to the original four-year lockup period.
Program Details and Rationale
The program was designed to provide early investors with an exit opportunity if they needed to recover funds or had shifted their investment strategy. The foundation emphasized that it has never sold $MON, nor has it proposed or pursued any sales through over-the-counter trades. It also confirmed that it is not currently engaged in any related process.
This move comes amid broader market conditions where token lockups and vesting schedules are under increased scrutiny from regulators and investors alike. By offering to buy back tokens at a discount, the foundation aimed to reduce potential selling pressure while giving early backers flexibility.
Implications for the $MON Ecosystem
The fact that most early investors declined the offer suggests a strong conviction in the project’s long-term prospects. It also signals that the existing lockup structure remains intact, which could be viewed positively by the market as it prevents sudden token dumps.
Why This Matters
For current and potential $MON holders, this development provides insight into the foundation’s financial management and its relationship with early backers. It also highlights the ongoing challenges projects face in balancing investor liquidity with token price stability.
Conclusion
The Monad Foundation’s buyback offer, though largely declined, underscores its commitment to supporting early investors while maintaining strict lockup discipline. As the project continues to develop, the market will be watching how these dynamics evolve.
FAQs
Q1: Why did the Monad Foundation offer to buy locked-up $MON? The foundation offered to buy locked-up $MON to give early investors an option to sell if they needed liquidity or had changed their investment strategy, while ensuring the tokens remain under the same lockup terms.
Q2: What happens to the $MON the foundation acquired? The $MON acquired by the foundation remains subject to the original four-year lockup period, meaning it cannot be sold or traded until the lockup expires.
Q3: Has the Monad Foundation ever sold $MON? According to the foundation, it has never sold $MON, nor has it proposed or pursued sales through over-the-counter trades, and it is not currently engaged in any such process.
On Aug. 18 at 9:00 a.m., the Bitcoin spot market displayed notable order flow activity, as captured by the cumulative volume delta (CVD) chart for the BTC/USDT trading pair. The chart, which tracks the balance between aggressive buying and selling, offers traders a granular view of market pressure at specific price levels.
Understanding the Spot CVD Chart
The spot CVD chart is a tool used by traders to analyze order book dynamics. It consists of two primary components: the volume heatmap in the upper panel and the cumulative volume delta in the lower panel.
The volume heatmap visualizes trading volume at each price level, with brighter colors indicating areas where the price lingered or moved sharply. These zones often act as support or resistance levels, as they represent clusters of historical activity where traders have previously shown interest.
The lower panel’s CVD indicator reflects the net volume of buy and sell orders, segmented by order size. The yellow line tracks orders between $100 and $1,000, while the brown line represents large orders between $1 million and $10 million. When these lines rise, it indicates increasing buying pressure; when they fall, selling pressure dominates.
What the Aug. 18 Data Shows
At the 9:00 a.m. snapshot, the CVD lines for both retail-sized and large orders were moving in tandem, suggesting a broad alignment in market sentiment. The volume heatmap indicated a concentration of activity around the $29,500–$29,800 range, which could serve as a pivot area for the session.
Large-order flow, often associated with institutional activity, showed a slight uptick, hinting at possible accumulation. However, the overall CVD remained below its recent highs, indicating that sellers have not been fully overwhelmed.
Implications for Traders
For traders, the CVD chart provides a real-time read on whether buyers or sellers are in control. The current data suggests a cautious market, with no clear directional bias. The identified support/resistance zones from the heatmap can be used to set stop-loss or take-profit levels.
It’s important to note that CVD is a lagging indicator, and sudden news events can quickly alter the order flow. Traders should combine this analysis with other technical tools and fundamental news for a comprehensive view.
Conclusion
The Bitcoin spot CVD chart for Aug. 18 at 9:00 a.m. reflects a market in equilibrium, with neither buyers nor sellers dominating. The volume heatmap highlights key price levels to watch, while the CVD lines offer insight into the behavior of different order sizes. As always, order flow analysis is one piece of the puzzle, and prudent risk management remains essential.
FAQs
Q1: What is the spot CVD chart used for? The spot CVD chart is used to analyze the net buying and selling pressure in the spot market by tracking cumulative volume delta. It helps traders identify potential support and resistance levels and gauge market sentiment.
Q2: How does the volume heatmap work? The volume heatmap displays trading volume at different price levels, with brighter colors indicating higher activity. These areas often act as support or resistance because they represent price levels where significant trading has occurred.
Q3: What do the yellow and brown lines represent in the CVD indicator? The yellow line tracks orders between $100 and $1,000, representing retail-sized trades. The brown line tracks large orders between $1 million and $10 million, which are often associated with institutional activity. Rising lines indicate buying pressure, while falling lines indicate selling pressure.
Kraken parent Payward has joined Anthropic’s Project Glasswing and is using Claude Mythos 5 for cybersecurity.
The company said Mythos 5 will scan its systems for vulnerabilities, with findings reviewed and patched through its existing security program.
Project Glasswing gives vetted organizations access to Anthropic’s cyber-capable AI models for defensive security work.
Kraken parent company Payward has joined Anthropic’s Project Glasswing and is using Claude Mythos to hunt for security flaws.
The move follows an open letter from over 40 Bitcoin and crypto companies, including Kraken, sent last week to Anthropic, OpenAI, and other leading AI labs demanding frontier labs open trusted-access programs to qualified defenders to help guard against threats.
Payward said Monday that the company will use Mythos 5 to scan its systems for vulnerabilities, with findings sent to its security teams for review. It’s the first reported crypto company to join the project and gain access to Claude Mythos 5.
“Selection gives Payward’s security division early access to the same class of model, sharpening its ability to combat sophisticated software vulnerabilities and protect millions of customers across the globe,” Payward wrote.
Flaws found in third-party open-source software will be reported to project maintainers, the company said, adding that the approach could help protect its financial infrastructure and strengthen open-source software used across the crypto industry.
Project Glasswing is Anthropic’s cybersecurity program that gives vetted organizations access to its most capable cyber models. Launched in April and expanded in June, the program’s partners have since uncovered thousands of high- or critical-severity vulnerabilities.
Anthropic did not immediately respond to a request for comment by Decrypt.
The news comes amid growing evidence that AI models can be powerful tools for both finding and exploiting software vulnerabilities. In April, Mozilla reported Anthropic’s Claude Mythos identified 271 vulnerabilities in Firefox during testing.
Last week, more than 40 Bitcoin and crypto companies, including Ark Invest, Coinbase, Block and BitGo, called on major AI labs to give qualified security researchers access to their most powerful models. Organized by the Bitcoin Policy Institute, the letter argued that developers protecting open-source financial infrastructure need access to frontier AI to find and fix vulnerabilities before attackers exploit them.
“Security has always been an unfair game. An attacker needs to find one flaw. A defender has to find all of them, first, every single day,” Payward Co-CEO Arjun Sethi said. “Frontier AI is the first thing that flips that asymmetry. A model can read every line of code the way an attacker would, at machine scale, so we find the flaw before anyone can build the exploit.”
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AI is also emerging as a growing threat to crypto companies, giving attackers tools to find vulnerabilities faster, automate attacks and make phishing and social-engineering campaigns more convincing. That raises the stakes for an industry already a frequent target for hackers, while fueling a race to deploy the same technology on the defensive side.
Claude Mythos 5 is Anthropic’s most advanced model for defensive cybersecurity, designed to analyze code at scale, identify vulnerabilities and help developers fix them. Access has initially been limited to organizations that operate or defend critical infrastructure, as Anthropic works on safeguards for a broader rollout.
Payward argued that crypto platforms face security challenges similar to other critical financial infrastructure. Exchanges, custody systems and settlement rails operate around the clock and can present lucrative targets for attackers.
“Security has always been an unfair game. An attacker needs to find one flaw. A defender has to find all of them, first, every single day,” Payward co-CEO Arjun Sethi said in the release. “Frontier AI is the first thing that flips that asymmetry.”
Anthropic has said it plans to expand access to Mythos-class cybersecurity capabilities as it develops safeguards for wider use.
Read more: AI is making crypto security cheaper, faster and harder to ignore
