The Wire PM — July 27, 2026

The Wire PM — July 27, 2026

Circle buys nearly 1,000 blockchain patents from IBM Circle acquired close to 1,000 patents from IBM covering blockchain, banking, insurance, and cloud security, a purchase that makes the USDC issuer the largest holder of blockchain patents in the United States. Financial terms were not disclosed. The move reads as defensive as much as offensive. USDC is the settlement asset under most Solana stablecoin lending, so a Circle that is harder to litigate and more entrenched in core infrastructure is quiet support for the deepest USDC books rather than a headline that moves an APY today. Source: CoinDesk, published July 27.

Storj files for Chapter 11 as the STORJ token slides 16% Decentralized storage firm Storj filed for Chapter 11 and its token fell about 16%, extending a week that already brought the BitMart wind-down and Uphold layoffs. The company says operations continue and has floated an unusual plan for token holders to take equity in the restructured business. For anyone underwriting yield, the lesson is the one our scores weight most heavily. The risk that ends a protocol is often the balance sheet and the business, not the smart contract, and a token that can convert to equity in bankruptcy is a different asset than the market priced a week ago. Source: CoinDesk, published July 27. How we score protocol risk

Securitize takes an SEC investment-adviser license as tokenization goes regulated Securitize registered an SEC investment-adviser affiliate, broadening the BlackRock tokenization partner's offering while regulators weigh rules for onchain investment products. Tokenized treasuries and regulated onchain funds are the benchmark that DeFi stablecoin yields now compete against. When a regulated 4% to 5% onchain yield becomes easy to reach, the base lending rates on Solana have to justify their extra risk, not just their extra basis points. Source: CoinDesk, published July 27. Compare Solana stablecoin yields

Onchain activity rises on Solana even as fees and prices fall: Bitwise Bitwise reported that Ethereum, Solana, and Avalanche all got busier and cheaper over the past year, with transaction counts up while fees and network revenue declined. All three tokens are down more than 50% from a year ago. Cheaper blockspace helps users and lowers the cost of running a strategy, but falling network revenue matters for the reward-side yields that come from fees and incentives rather than from real borrowing demand. When usage climbs and revenue falls, the durable yield is the base rate, which is the number we lead with on every Solana market. Source: The Block, published July 27. Explore all Solana yields

Numbers (Updated)

• BTC: $64,861 (+0.3%)
• SOL: $75.61 (+0.4%)
• ETH: $1,942 (+1.6%)
• Solana DeFi TVL: $4.9B

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