The Wire PM — July 10, 2026

The Wire PM — July 10, 2026

Empery Digital sells nearly half its bitcoin to fund an AI pivot Bitcoin treasury firm Empery Digital offloaded about 1,400 BTC, roughly $87 million and close to half its holdings, and put part of the proceeds toward a 25% stake in an AI data center campus while paying down debt. It is a pointed data point for the treasury-company model that defined much of 2025: when the premium to net asset value compresses, some of these firms start looking at their bitcoin as working capital rather than a permanent reserve. For yield watchers the read-through is about supply. Treasury selling adds spot pressure without touching the lending and staking markets directly, but it can nudge funding rates and collateral values that feed DeFi APYs. Source: The Block and Decrypt, published July 10.

SK Hynix shares arrive tokenized on Solana via xStocks Tokenized SK Hynix shares tied to the chipmaker's $26.5 billion US listing went live on Solana and can now be acquired through Backpack, xStocks and Ondo Finance, with access extended to Telegram users. It is another step in the tokenized-equity push that has made Solana one of the busiest venues for real-world assets onchain. For a yields brand the interesting part is what comes next: tokenized stocks become collateral, and collateral becomes the base for lending and structured yield. The infrastructure question is whether these wrappers carry clean redemption and custody, which is exactly the kind of risk we score before rate. Source: The Block, published July 10. How we score risk before rate →

Kraken relaunches its mobile app around agentic trading Kraken said it will relaunch its mobile app with autonomous AI agents that monitor markets and suggest trades sitting at the center of the experience. It lands the same day Revolut connected its Revolut X exchange to external AI assistants for analysis, backtesting and execution, a sign that agentic trading is moving from experiment to product feature across mainstream venues. The upside is faster access to data and execution. The risk is that agents acting on stale or wrong numbers scale mistakes quickly, which raises the value of a transparent, timestamped source of yield and risk data rather than a black box. Source: The Block, published July 10. Explore live Solana yields →

Cambridge puts 31% of Ethereum node activity in the US New Cambridge research found that about 31% of Ethereum node activity runs from the United States, clustered on AWS, Hetzner and OVH, and warned that if a third of nodes went offline it could stall finalization. The concentration raises jurisdictional and counterparty questions that most stakers never see when they chase an APY. It is a reminder that yield on a proof-of-stake asset rests on the health and geography of the validator set underneath it, and that infrastructure risk belongs in any honest risk score. Source: The Block, published July 10. How we score protocol risk →

Numbers (Updated)

• BTC: $63,787 (+1.0%)
• SOL: $77.48 (-0.8%)
• ETH: $1,784 (+2.0%)
• Solana DeFi TVL: $4.95B

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