Aug 28: Euler Hits $3B in TVL While Sandbox Crashes Out

HEADLINES

• Euler emerges as DeFi’s super app — TVL jumps from $189M to $2.9B in 2025, driving $6M annualized revenue and backed by 40+ audits.
• Visa-backed Rain raises $58M Series B — Scaling stablecoin-powered debit/credit card infrastructure, with transaction volume up 10x this year.
• Solana validators weigh Alpenglow upgrade — New consensus aims for 150ms finality, higher resilience, and efficiency under heavy activity.
• The Sandbox implodes — Founders ousted, 125+ layoffs, global office closures, and $SAND down 95% with only a $100–300M treasury left.
• U.S. Commerce Dept. uploads GDP data on-chain — First-ever federal macro data published to Bitcoin, Ethereum, Solana, and more, partnered with Chainlink and Pyth.

Little Bits

• Jump Trading alums raise $20M for aPriori — Pushing HFT infrastructure into DeFi, now $30M total funding with Pantera, HashKey, IMC, and others.
• Pantera Capital plans $1.25B Solana public vehicle — Aims to double all current public company SOL holdings combined.
• Tornado Cash devs get $500K legal aid — Solana Policy Institute funds appeal of money laundering convictions.
• Kanye’s YZY token collapses — Over 50K wallets lose, while 11 wallets make $1M+ in profit during the rug.

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