Mysten Labs (SUI) technical director Sam Blackshir is joining Anthropic. 05 Aug, 2026 byDropsTab Join Its Socials Sam Blackshir, co-founder and CTO of Mysten Labs, announced his departure from the company to focus on security research at Anthropic. Looking back on my career, I've been happiest when working hands-on on technical tasks in emerging fields. This is an opportunity to combine both - I'm motivated to work on security at a time when the balance of power between attackers and defenders is shifting. Blackshir will remain an advisor to Mysten and the Sui ecosystem, and will also continue to be involved with the newly established Move Foundation - he is the creator of the Move programming language, which he has been working on for over eight years. Evan, who previously led engineering teams at Apple and Meta, will take over as head of Mysten Labs' technical vision. Venice reduces the annual VVV emission from 3 million to 2 million tokens (~$22.6 million) in two equal steps on September 1 and October 1. 05 Aug, 2026 byDropsTab Join Its Socials This is already the seventh consecutive reduction: at the start in January 2025, the emission was 14 million tokens per year. By October, only about 14% will remain - 86% less than two years ago. Why: Venice monthly buys back VVV from the market using the platform's revenue and burns them; the goal is to drive the token into pure deflation, where more tokens are burned than issued. The lower the emission, the closer DropsTab get to this point: currently, about 250,000 tokens enter the market each month; after the reduction, it will be roughly 167,000. A nuance for holders: all emissions go to stakers as yield, so each reduction impacts their percentage. With an annual emission of 2 million tokens, the very meaning of staking now rests almost entirely on the expectation of price growth - and if the platform's revenue declines, the scheme stops working. VVV -6% in 24 hours Circle's Q2 2026 report: revenue below forecasts, USDC circulation volume down nearly 7% since March. 05 Aug, 2026 byDropsTab Join Its Socials The USDC issuer reported its second-quarter results: revenue, including income from reserves, totaled $701 million - a mere +7% year on year, compared to analysts' expectations of $734.7 million. The reason is clear: the company's main source of income - interest on reserves - generated $668 million and grew by only 5%. The average yield on reserves fell by 0.66 percentage points, almost offsetting the growth effect of USDC itself. However, profit returned: net income reached $48 million, compared to a loss a year earlier - though much of this improvement was due to the base effect following last year's IPO expenses. Adjusted EBITDA came in at $143 million, up 8%. The picture for the stablecoin itself is mixed. Formally, USDC's outstanding supply rose by 19% year on year to $73.3 billion, and on-chain transaction volume surged 2.5 times to $14.8 trillion. Yet within the quarter, the circulating supply actually declined, falling to $71.8 billion by July 30 - a drop of nearly 7% since March. It was precisely because of this that Morgan Stanley downgraded its recommendation to Underweight ahead of the report and slashed its price target from $106 to $38; shares have lost about 24% since the start of the year. Investors found some positive news elsewhere: earnings per share did beat forecasts, and the company reminded everyone of the launch of the Arc blockchain on the public mainnet on September 16, its newly obtained federal trust banking license, and institutional clients such as BlackRock, BNY, and Standard Chartered, who, according to the CEO, are no longer just testing USDC - they're scaling up its use. At the same time, the company's CEO candidly attributed the weak numbers to interest rates and the slowdown in the crypto market. Shares initially jumped by around 10% in premarket trading but then gave up most of their gains. Pump.fun has carried out a token buyback of PUMP tokens worth $4.7 million over the past 7 days. 05 Aug, 2026 byDropsTab Join Its Socials Total buybacks totaling $420 million to date PUMP +120% in 1.5 months Binance has filed a $473 million lawsuit against cryptocurrency card company RedotPay, accusing it of illegally poaching users. 05 Aug, 2026 byDropsTab Join Its Socials Three entities affiliated with Binance have filed a lawsuit in Hong Kong court against the co-founders of the payment service RedotPay, accusing them of a "fraudulent scheme" to poach customers. The core of the claim: under an agreement from March 2025, Binance users could only use RedotPay to convert funds into fiat currency, make internal transfers, and purchase services offered by RedotPay. It was forbidden to top up RedotPay cards - Binance alleges that RedotPay failed to segregate funds: money from Binance Pay was freely used to top up cards, and the service actively encouraged this practice. The figures cited in the claim: * Over 470,000 users switched to RedotPay cards * $925 - the estimated lifetime value of a single customer, from which Binance calculated the amount of its claim * Approximately $304 million in user funds, according to the exchange, were transferred from Binance Pay into the RedotPay ecosystem The most critical factor is timing. RedotPay is preparing for an IPO in the U.S. valued at over $1 billion, with a valuation exceeding $4 billion, involving JPMorgan, Goldman Sachs, and Jefferies. Binance claims that it was precisely the poached user base that inflated this valuation. Another key argument from the exchange: in its Series A presentation from 2024, RedotPay itself promoted to investors the ability to directly top up RedotPay cards using Binance Pay. This isn't the first conflict: the initial partnership from November 2023 collapsed within six months due to the same allegations, and the 2025 contract was signed under the promise of segregated funds. Binance Pay was permanently disconnected from RedotPay on April 3, 2026, citing a routine partner review as the reason. RedotPay intends to defend itself on all counts and states that the lawsuit will not affect the operation of its service. A parallel lawsuit filed by Binance is being considered in Singapore - with a hearing scheduled for August 7. Shaw (founder of Eliza Labs) declared the ElizaOS token "dead" and closed the project's fund. 05 Aug, 2026 byDropsTab Join Its Socials The token, which was worth $2.4 billion, has officially been shut down. Eliza Labs founder Shaw Walters wrote that ElizaOS is "completely dead," the fund is being dissolved, and holders should sell their tokens. The reason is a class-action lawsuit filed by Burwick Law. The team handed over the remaining treasury funds and all available assets to the plaintiffs - there was no money left for legal defense of the capital, even though Walters considers the claims baseless. What this means in practice: * The fund no longer supports the token; * There will be no buybacks or any other measures to support the token; * Walters will never launch any new tokens associated with Eliza. The open-source framework development will continue - the IP remains with him, and he plans to work "without the token around." The scale of the collapse: from a market cap of $2.39 billion on January 2, 2025, to roughly $2.3 million today - a drop of over 99.8%. How things came to this. The project launched in October 2024 on Solana under the name ai16z and was the first to introduce the market to the idea of a venture fund and DAO managed by an AI agent. It was precisely this concept that triggered the lawsuit: according to the plaintiffs, the fund was "autonomous" only in name, while decisions were actually made by Walters and insiders. Then came a dispute with a16z over the name, a rebranding to ElizaOS, a 1:6 token migration expanding the supply to 11 billion, and a six-month account freeze on X, cutting off the project from its audience. At its peak, the FDV reached $2.4 billion. Now it's $3 million Join Stake 200% Bonus. Win $100k Daily. Play with Crypto, Enjoy Best VIP Club, Daily Bonuses, Instant Withdrawals.

Sui mainnet surpasses 6 million TPS with new upgrade. Programmable lightning tunnels boost network performance. Reading Time: 3 mins read The Sui blockchain has achieved a significant performance milestone after its mainnet surpassed 6 million transactions per second (TPS) following the implementation of programmable lightning tunnels, according to Adeniyi Abiodun, co-founder and chief product officer at Mysten Labs. The announcement underscores continued efforts by Mysten Labs, the company behind the Sui blockchain, to enhance the network's scalability and transaction-processing capabilities as competition among high-performance blockchain platforms intensifies. The latest upgrade is intended to strengthen the network's ability to process large volumes of transactions while maintaining efficient performance for decentralized applications and digital asset services. The implementation of programmable lightning tunnels has enabled the Sui mainnet to exceed 6 million transactions per second, representing a major scalability milestone for the blockchain network. The reported increase in throughput reflects ongoing infrastructure improvements designed to support growing demand for decentralized finance (DeFi), gaming applications, tokenized assets, and other blockchain-based services that require rapid transaction execution. High transaction capacity has become an important competitive factor as blockchain developers seek platforms capable of handling enterprise-scale workloads without sacrificing efficiency. Infrastructure expansion continues. The transaction milestone forms part of a broader roadmap through which Mysten Labs is expanding the technical capabilities of the Sui ecosystem. Alongside improvements to network performance, the company has outlined additional features intended to enhance both privacy and financial services on the blockchain. Abiodun previously indicated that confidential transfers using range proofs are under development for the Sui blockchain. The planned functionality is expected to enable private transactions while maintaining the cryptographic assurances necessary for blockchain verification. If implemented as planned, the feature would provide users with stronger transaction privacy without compromising the integrity of the underlying network. The introduction of confidential transfers reflects increasing industry interest in privacy-preserving technologies that allow users and enterprises to protect sensitive financial information while continuing to operate within transparent blockchain environments. Mysten Labs is also developing confidential transfers using range proofs, a feature intended to strengthen transaction privacy while preserving blockchain security and verification. DeFi expansion targets Asian equities. Beyond network infrastructure and privacy enhancements, Mysten Labs is also preparing to broaden Sui's decentralized finance ecosystem. Abiodun indicated that the blockchain's DeFi platform is expected to support continuous, around-the-clock trading of Asian equities, expanding the range of financial products available within the ecosystem. According to the update, a waitlist has already been opened for prospective users interested in accessing the planned service. Continuous trading of tokenized or blockchain-based financial assets could provide market participants with greater flexibility compared with conventional equity markets that operate during fixed trading hours. The initiative aligns with a broader trend across the blockchain industry to integrate traditional financial assets with decentralized infrastructure, allowing users to access investment opportunities through blockchain-based platforms while benefiting from continuous market availability. Focus on scalability and product innovation. The latest announcements illustrate Mysten Labs' strategy of advancing multiple areas of the Sui ecosystem simultaneously, including network scalability, transaction privacy, and decentralized financial services. By improving the blockchain's underlying infrastructure while introducing new user-focused capabilities, the company aims to position Sui as a competitive platform for developers, enterprises, and financial applications. The combination of ultra-high transaction throughput, planned confidential transfers, and continuous DeFi trading for Asian equities demonstrates Mysten Labs' broader strategy to expand Sui's infrastructure and application ecosystem. As blockchain adoption continues to grow across both consumer and enterprise markets, the ability to process millions of transactions per second while supporting privacy-enhancing technologies and expanded financial services could strengthen Sui's position among next-generation Layer-1 blockchain networks. Market participants and developers are likely to monitor the rollout of these planned features as the ecosystem continues to evolve.