The crypto catch-up. What changed, why it matters, where to look.

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The catch-up

News from the last 24 hours, plus clearly dated ongoing developments and upcoming events.

Arbitrum and Robinhood Crypto open a second mentorship cohort for chain builders

The Arbitrum Foundation, with @RobinhoodCrypto , opened Cohort 2 of its Mentorship Program for early-stage teams building, or ready to build, on Arbitrum One and Robinhood Chain. The 12-week track offers mentor access, fundraising help, a Demo Day before an audience expected to include more than 50 investors, and $100,000 in prizes for top teams. Applications close 6 December 2026. Kickoff is planned for 5 January 2027 and Demo Day for 25 March 2027; dates can change. Teams need not already be live on those chains. Named session partners include Robinhood Chain, Pantera, Pendle, Paxos and Offchain Labs. Prizes depend on eligibility, KYC and a legal agreement. This desk did not apply.

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Robinhood

3 developments

Robinhood stock tokens can now back stablecoin loans on Morpho

Morpho is an open lending protocol. On 22 October @Morpho said Robinhood Stock Tokens are live as collateral, so a holder can borrow stablecoins without selling. @RobinhoodCrypto said Robinhood Chain provides the tokens, Morpho provides the credit market, and other apps can connect. In the same thread @Morpho said curators, not Morpho, set each market’s terms and compliance rules, and that U.S. persons are excluded. Robinhood calls the tokens tokenized debt securities and says they are not available in the United States or to U.S. persons, with further limits that include Canada, the United Kingdom and Switzerland. The posts do not name tickers, rates or how much has been borrowed. This desk did not borrow.

Why it matters These tokens had been a way to trade stock exposure on Robinhood Chain. Borrowing against them lets a holder keep that exposure and draw stablecoins, and it gives other apps one lending market to plug into. Liquidation depends on rules the curator sets, which the announcement does not list. Jurisdiction limits who can hold the tokens in the first place.

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Robinhood Chain is the Ethereum layer-2 network from the Robinhood brokerage. Its stock tokens track share prices but, on Robinhood’s description, are tokenized debt securities rather than the shares themselves. Morpho already sits under Robinhood Earn, which routes the dollar stablecoin USDG into Morpho markets on the same chain. This use is separate: the borrower posts a stock token, and a curator chooses the token, the stablecoin, the liquidation line and who may enter. Secondary write-ups disagree on those lines, including whether an SPY market sits at 62.5% or 77%, so this desk is not treating a specific loan-to-value as established. Markets can be inspected at markets.morpho.org.

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Uniswap v4 now routes outside liquidity on Ethereum, Base and Robinhood Chain

Uniswap is the largest decentralized exchange. On 22 October @Uniswap said Aggregator Hooks are live in its web app and API on Ethereum, Base and Robinhood Chain. Each hook wraps another venue so the router treats that liquidity as a Uniswap v4 pool. Uniswap says seven sources are connected and cover more than 90% of exchange activity on these chains. Quotes refresh every block. A route can mix Uniswap and outside pools, settles in one transaction, and needs no new approval. Swaps that use outside sources pay Uniswap protocol fees, which Uniswap says contribute to burning UNI. The announcement does not name the seven venues. This desk did not swap.

Why it matters A swap on Robinhood Chain or Base can now draw on liquidity that is not in a Uniswap pool, from the same Uniswap app or API. Fees on that flow go to Uniswap, so rival pools on those chains are no longer invisible to its router. More chains are planned, with no date.

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Robinhood Chain is Robinhood's public Ethereum layer-2, used for trading, tokenized stocks and apps. Base is Coinbase's Ethereum layer-2. Aggregator Hooks are contracts that quote an outside exchange and present it to Uniswap v4 as a Uniswap pool. The Block, citing Uniswap Labs, named Fluid, Curve and PancakeSwap among the launch sources. It also reported that the first hook went live on Tempo, the Stripe and Paradigm payments chain, in March 2026, in the web app only. This launch puts Ethereum, Base and Robinhood Chain on both the app and the API. The 90% coverage figure is Uniswap's, not a measurement by this desk.

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Arbitrum and Robinhood Crypto open a second mentorship cohort for chain builders

The Arbitrum Foundation, with @RobinhoodCrypto , opened Cohort 2 of its Mentorship Program for early-stage teams building, or ready to build, on Arbitrum One and Robinhood Chain. The 12-week track offers mentor access, fundraising help, a Demo Day before an audience expected to include more than 50 investors, and $100,000 in prizes for top teams. Applications close 6 December 2026. Kickoff is planned for 5 January 2027 and Demo Day for 25 March 2027; dates can change. Teams need not already be live on those chains. Named session partners include Robinhood Chain, Pantera, Pendle, Paxos and Offchain Labs. Prizes depend on eligibility, KYC and a legal agreement. This desk did not apply.

Why it matters Robinhood Chain is still recruiting app teams. A founder who wants that user base, tokenized-asset rails or Arbitrum investor introductions can apply now. The cohort is a watchlist for what may ship on the chain in early 2027.

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Robinhood Chain is Robinhood’s permissionless Ethereum Layer 2, built with Arbitrum technology, for tokenized stocks and other onchain finance. Arbitrum One is a separate Ethereum Layer 2 run by the Arbitrum ecosystem. The Foundation says Cohort 1 drew more than 900 applications, with ten teams at Demo Day, and that those teams later reported raising more than $10 million. Cohort 2 is framed around fundraising and execution: investment-readiness sessions, an internal Demo Day, and practical work on product, growth, partnerships, tokenomics, stablecoins, AI tooling and building on Robinhood Chain. Applicants are expected to show a prototype or early product, a committed founding team and a plan to launch or scale on Arbitrum One or Robinhood Chain. The Foundation says prizes are discretionary, may include exclusivity or milestones, and that sessions are educational rather than investment advice.

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Solana

3 developments

Meteora lets builders add holder-paid transfer fees on new Solana coins

Meteora builds liquidity pools on Solana, including DBC, a tool for launching a coin into a bonding-curve pool. On 22 October @MeteoraAG said transfer fees are now live on DBC. A builder can launch a token that charges a fee when it is transferred and can send those fees to holders. After the coin moves to Meteora’s DAMM v2 pool, the builder can keep that fee or remove it. The same post says tokens from @Tessera_PE and @PreStocks can be the asset buyers pay with. It does not give the fee size, the payout rules or who has used it. This desk did not launch a coin.

Why it matters A large share of new Solana coins start on launch tools like this. A transfer fee changes the cost of moving a coin and who gets paid, which traders and wallets have to price in. Letting a launch be denominated in the named tokens also means the quote asset need not be SOL or a stablecoin. The creator sets the terms, and this desk has not inspected a live pool.

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A bonding curve sells a new coin against a quote asset and later moves, or migrates, the liquidity into an ordinary pool. DAMM v2 is Meteora’s later pool type. A transfer fee comes out when the token is sent, which is separate from the fee on a swap. Paying it to holders would make holding the coin a claim on those charges, and would make a plain transfer cost something. Whether the fee survives migration is the keep-or-revoke choice. Meteora’s post names @Tessera_PE and @PreStocks only as quote assets. It does not explain those projects or restrict who may create a coin. The launch page is launch.meteora.ag.

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Reflect says builders can launch a named stablecoin on Solana in one transaction

Reflect builds stablecoin tools on Solana and describes itself as backed by a16z crypto. On 22 October @reflectmoney said Create is live. A builder can issue a stablecoin in their own name, on Solana, in one transaction, choose collateral from a reviewed set, and set how interest splits between the issuer and holders. @solana reposted that claim. The whitelabel page calls the product a yieldcoin and offers a create button. It does not list the allowed collateral, fees or who can use it. This desk did not create a coin.

Why it matters An app on Solana can issue a branded dollar that shares interest with holders, without writing a new stablecoin program. A new ticker from this tool still needs a look at its collateral and the split. The launch post does not show how many coins were created.

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Create is Reflect's whitelabel page at reflect.money/whitelabel. The project says the issuer picks reviewed collateral and keeps part of the interest. Solana's official account described it as launching a stablecoin in under a minute. That is the same announcement, not a separate technical review. No reserve report, audit link or volume figure is in the posts or the page loaded for this check.

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J.P. Morgan opens tokenized funds MONY and JLTXX on Solana

J.P. Morgan Asset Management said two tokenized money-market funds are now on Solana for qualified U.S. investors. MONY is a private fund for qualified purchasers and accredited investors that seeks dollar yields. JLTXX is a U.S. registered government money-market fund designed to hold assets in a way that can support stablecoin issuers under the GENIUS Act. Investors subscribe and redeem through Morgan Money and receive tokens at a blockchain address. The firm published a Solana address for each fund. The release says the funds are not bank deposits and are not FDIC insured. It does not say how much has been issued on Solana. @solana pointed to the same launch. This desk did not subscribe.

Why it matters A qualified investor or stablecoin issuer active on Solana can hold these J.P. Morgan funds on that network and check the published addresses. The release is an availability claim. Supply on Solana is something a reader can inspect, and it is not in the announcement.

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Solana is a public network for trading, payments and apps. MONY first launched in December 2025. J.P. Morgan said it was then the largest global systemically important bank to launch a tokenized money-market fund on a public blockchain. This step adds Solana through Morgan Money, the firm's liquidity platform. The manager reported $4.8 trillion of assets as of 30 September 2026. That is the firm, not these two funds. JLTXX requires its prospectus. The Solana addresses in the release are EToDtBM2knZ8N1BHyUq2Riq5ngWTcoD3k6qpsgf7CKYY for MONY and J4cTuCH6frt4AnEmKfMS2k8hsUf7K94PV62sjUJno8Cz for JLTXX. Listed risks include delays, security breaches, fee changes and chain splits.

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Base

1 development

Aero says inflation since launch is about 6.6%, under its projection

Aero is the onchain exchange that replaced Aerodrome, Base’s main decentralized exchange, and Velodrome. On 22 October @aeroxyz said that, about one day in, the annualized inflation rate since launch was about 6.6%. It compared that with an initial projection of about 8% and with Aerodrome’s rate of about 12%. Aero’s June design note estimated a realized rate of 8% to 12%, under a 20% ceiling, because the system is meant to mint only the tokens needed to pay liquidity providers a target dollar value. The 6.6% figure is Aero’s, from about a day of data. This desk did not recompute it.

Why it matters New AERO is what liquidity providers are paid. A lower rate than Aerodrome’s would mean fewer new tokens if the reading holds. One day is too short to treat 6.6% as the lasting rate, and Aero says rewards move with pool revenue. Anyone staking AERO, or still holding AERO or VELO from before the merger, should treat this as the project’s first published reading.

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Aero’s June note describes the AER Engine. Instead of emitting a fixed number of reward tokens each week, gauges are supposed to target a dollar value tied to each pool’s revenue and mint only the AERO required when rewards are claimed. The note put Aerodrome’s inflation near 12% and Velodrome’s near 16%, and called 20% a ceiling rather than a goal. It estimated the realized Aero rate at 8% to 12%. The 22 October post narrows the comparison to about 8% projected and about 6.6% observed. It links that June note and does not show the calculation, the block range or whether the rate is still moving. The launch itself was announced just outside this edition’s 24-hour window.

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Arc

2 developments

Tria adds Arc so users can move USDC onto a card or trading account

Tria is a consumer app for trading, spending, earning and travel. On 23 October @useTria said Circle’s Arc blockchain is live in the app. Users can send, receive and convert USDC on Arc, then use that balance to top up a Tria card or fund a trading account. The post does not name supported countries, conversion venues, fees or deposit limits. This desk did not send USDC or top up a card.

Why it matters Arc has been short on simple retail paths. A card and trading-account hook is something a holder can actually try, alongside the larger Extended perpetuals book that moved onto Arc a day earlier.

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Arc is Circle’s blockchain for stablecoin payments, tokenized assets and onchain markets. Fees are paid in USDC. Tria describes itself as a single app for onchain finance in more than 150 countries. The 23 October post is Tria’s own claim that Arc USDC can now move inside that app and out to a card or trading balance. It does not document how the card is issued, whether every Tria user sees Arc, or how much has been transferred. Readers should confirm the network, fees and card terms in the app before sending funds.

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Extended says its $120 million perpetual-futures book is now live on Arc

Extended is a perpetual-futures exchange that had settled on Starknet. On 22 October @extendedapp said the move to Circle's blockchain, @arc , is complete. It put the migrated amount at $120 million, said open positions and orders carried over, and said trading continued through the switch. Deposits and withdrawals are open again. It says users now get native USDC through Circle's cross-chain transfer system, and that cirBTC is the bitcoin collateral. @arc said the same migration is live. The posts do not say how long the transfer pause lasted. This desk did not trade or withdraw.

Why it matters Arc now has a live perpetual-futures venue, not only a migration date. Extended users who were on Starknet are on Arc's USDC settlement. The $120 million figure is the company's. Nothing here independently checks open interest or whether every account came across intact.

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Arc is Circle's public blockchain for stablecoin payments and onchain finance. Extended had scheduled the Starknet move for 13:00 UTC on 22 October. Its earlier notices disagreed on whether holders of more than $1 of USDT or wrapped bitcoin had to convert or withdraw by 12:00 or 13:00 UTC on 21 October. The completion posts do not say how many accounts were restricted or had positions closed. cirBTC is the bitcoin asset Extended named for Arc. It did not define the issuer in today's posts.

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Elsewhere in crypto

3 developments

Ethereum delays the Hoodi Glamsterdam test after gas-change security findings

Ethereum is the main smart-contract network. Glamsterdam is its next planned protocol upgrade. @chain_security said core developers delayed the Hoodi testnet activation because of security impacts it identified in new gas rules. The firm said it had found 13 live-contract examples and was disclosing them privately. The Ethereum Foundation said the Hoodi fork, previously set for 26 October 2026 at 17:42:48 UTC, is postponed with no replacement time, and that a planned Hoodi gas-limit rise to 200 million is also off. Hoodi node operators need client versions that remove that activation. The Foundation said mainnet users need take no action. This desk did not run a node.

Why it matters Hoodi was the last public rehearsal before a mainnet date. Teams with contracts that catch failed calls should review gas assumptions now. A later mainnet schedule depends on a new test date that has not been set.

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Hoodi is Ethereum’s public test network used to rehearse hard forks. Glamsterdam already activated on the Sepolia testnet on 6 October 2026. ChainSecurity’s 13 October analysis covers EIP-8037 and EIP-8038. Those changes split state-creation gas into a separate pool and reprice storage. After a failed call, gas that was spent can be restored to the caller. A contract that records a failure and continues may now finish a path that previously ran out of gas and reverted, so a retryable error can be stored as final. The firm also warned that old gas budgets may be too small under the new schedule. Core developers took the delay on All Core Devs Execution call 248 on 22 October. The Foundation listed some client builds that drop the 26 October Hoodi schedule, including Lodestar v1.50.1, Besu 26.10.1 and Nethermind 2.2.1, and said operators should wait for notes that explicitly confirm the postponement. Affected protocol names were not published.

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Circle Match auctions institutional USDC mints against redemptions

Circle issues the USDC stablecoin and runs Circle Mint for institutions that create and cash it in. On 22 October @circle said Circle Match is available to eligible Mint customers. Every hour, mint orders and redemption orders meet in one auction. When they match, the minter receives the clearing fee as a rebate in USDC, and the redeemer pays that fee. The fee cannot top Circle’s Express rate or the maximum the redeemer set. Orders must be funded before they enter. Circle says it keeps no separate spread on matched volume, and that a rebate is not guaranteed. Access is approval-gated. This desk did not place an order.

Why it matters Large USDC mints and redemptions usually happen as separate transactions, so the gap shows up in trading spreads and fees. Match lets those two sides meet inside Mint and moves the fee onto an hourly auction. It does not change USDC for ordinary holders, and it is not a public exchange. Unmatched orders follow a fallback the customer chose in advance.

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Minting is paying dollars to create new USDC. Redeeming is sending USDC back for dollars. Circle says minting has not paid a direct rebate, while a fast redemption has carried a fee. Match is optional and runs through the Mint site and API. To mint, a firm wires dollars into a separate Match balance. To redeem, it reserves USDC. There is a one-minute lock before clearing: existing orders can be improved but not pulled. Better prices fill first, and orders at the same fee share pro rata. Circle says one entity cannot take both sides. Money left on the mint side can be redeemed for dollars at no cost. Circle Mint is not a bank account, and the funds are not FDIC insured. The blog is dated 22 October without a clock time. The timed claim that Match is available is @circle ’s post.

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Coinbase lets an AI agent trade a customer's account within set limits

Coinbase, the exchange company that also runs Base, published a way to connect an outside AI agent to a Coinbase account. On 22 October @CoinbaseDev said the new Coinbase for Agents page can connect ChatGPT, Grok, Muse or another agent to research, manage a portfolio, and trade crypto and stocks. @coinbase also said the agent can trade derivatives on its Everything Exchange, and named Claude and Muse as well. The product page says the customer uses a separate portfolio, sets the limits, and can disconnect. It warns that agents may fail and that the customer is responsible for the trades. The posts do not say that every customer has access yet. This desk did not connect an agent.

Why it matters A Coinbase customer can now test whether a chat agent can place real crypto, stock or derivatives orders, and whether the stated limits hold. This is the exchange account, not trading on Base. A wrong instruction can still move money, and Coinbase says the user bears that result.

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The agents page at coinbase.com/agents lists Claude, ChatGPT, Grok, Muse and other tools. It tells users to pick limits that Coinbase enforces in a portfolio kept apart for the agent. Example prompts on the page include rebalancing, a weekly stock purchase and a short briefing. Those are illustrations, not evidence of completed trades. The developer post stresses crypto and stocks. The main Coinbase account adds derivatives. Neither post gives eligibility, regional limits or fees.

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