Coinbase Tokenized Stocks Go Live on Base as Crypto Rally Extends

Coinbase launched tokenized stocks for Apple, Nvidia, Meta, and Alphabet on its Base L2, backed 1:1 by shares held with custodian Alpaca and usable across Base DeFi protocols like Aerodrome and Aave. Separately, Circle minted $1B USDC on Solana in 24 hours, and stablecoin supply grew $2.19B last week as DEX volumes rebounded sharply. In regulation, crypto groups sued Illinois over its 0.2% digital asset tax, while Japan issued its first new crypto exchange license in four years to Nomura-backed Laser Digital.

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Coinbase tokenized stocks go live on Base, backed by Alpaca custody Shares of Apple, Nvidia, Meta, and Alphabet now trade around the clock on Base via the B20 standard, with dividends and splits handled onchain. Aerodrome provides liquidity and Aave supports lending against the assets, opening equities to DeFi and autonomous agents. 1 2

Circle mints $1B USDC on Solana in 24 hours The large issuance signals deepening stablecoin integration and growing demand for dollar-pegged assets on Solana, reinforcing its challenge to Ethereum in the stablecoin market. The mint coincides with renewed DeFi and trading activity on the network. 3

Crypto groups sue Illinois over 0.2% digital asset tax The Crypto Council for Innovation and Blockchain Association filed suit challenging the state's 'privilege tax' on constitutional, due process, and Commerce Clause grounds, following a similar Digital Chamber case. The tax takes effect January 2027. 4

Japan grants first new crypto exchange license in four years Nomura-backed Laser Digital Japan received FSA registration under the Payment Services Act, ending a roughly four-year pause in new approvals. The license reflects easing of stringent post-hack regulations. 5

Stablecoin supply grows $2.19B as DEX volumes rebound sharply DEX spot volume rose 91.62% and perpetual volume jumped 104.06% week-over-week, while public companies added 1,371 BTC. The surge signals renewed market confidence and institutional optimism. 6

Aave holds 63% of $6.1B USDT and USDT0 DeFi TVL Aave V3 holds $3.83 billion in Tether deposits across 29 venues, cementing its role as DeFi's central bank for dollar-denominated assets. USDT0, Tether's omnichain variant, has processed over $85B in lifetime bridge volume. 7

EIP-8130 proposes simpler Ethereum account abstraction with Keystore The Coinbase-backed proposal introduces a new transaction type and on-chain Keystore, claiming 63% lower fees than ERC-4337. WalletConnect co-founder Pedro Gomes endorsed it as simpler and more portable than rival EIP-8141. 8

Term Finance loses $8.5M to governance exploit despite safeguards The attacker withdrew ~2,843 ETH and 1.68M USDC from Term's Strategy Vaults, bypassing a seven-day timelock and LP veto via a custom governance wrapper. Yearn confirmed standard vaults were unaffected. 9

USDC dominates agentic transfers with 99.99% of x402 volume Circle's stablecoin is the default currency for AI-to-AI payments on Coinbase's x402 protocol, which processed 160M cumulative transactions by June 2026. Average transaction value on Base is roughly $0.13. 10

Fasset hits $1B valuation with SBI-led Series C The stablecoin neobanking platform raised $68M led by SBI Group, bringing 2026 funding to $119M. Fasset processes $40B+ annualized volume across 100+ banking corridors and 125 countries. 11

QuickSwap Base volume surpasses $600M milestone The Polygon-native DEX crossed the threshold in under a year after launching perpetual trading on Base in Q4 2025. The milestone signals sustained user activity on Coinbase's L2. 12