Web3 8amCoffee

Crypto markets see a record liquidation event with roughly $16 billion in leveraged long positions erased amid market turmoil, hitting bitcoin, ether and a broad set of altcoins. The wave of forced unwinds aligns with a wider Wall Street sell-off and triggers sharp volatility as exchanges process cascading margin calls and funding resets.

XRP plunges about 40% in its largest one-day decline before staging a partial recovery, marking an extreme intraday swing for the token. The move underscores fragile liquidity and heightened leverage conditions, with prices whipsawing as traders adjust risk and liquidations ripple across venues.

Bank of America, Citi and Goldman Sachs are among major lenders evaluating a jointly issued stablecoin that could be used across participating institutions. The initiative would coordinate on a shared digital token for payments and settlements, with scope, timeline and technical implementation yet to be disclosed.

BlackRock’s bitcoin fee competition, S&P’s broad categorization approach and New York’s stance on staking draw attention as key themes shaping U.S. crypto and market structure. Fee pressure, index methodology and state-level policy converge to influence investment access, asset grouping and yield strategies.

Aster postpones its token airdrop after identifying data inconsistencies affecting allocation records, pausing distribution to verify accuracy. The team intends to resolve discrepancies before rescheduling, signaling that final recipient lists and amounts require further validation to ensure a fair rollout.