News

ChainCatcher News, according to Coinglass data, the current cryptocurrency Fear and Greed Index is 24, up 11 points from yesterday. The 7-day average is 18, and the 30-day average is 19.

According to ChainCatcher, Aave founder Stani Kulechov stated that Aave V4 can be used to reconstruct the on-chain securities financing market. He mentioned that securities financing is one of Wall Street's largest yet least publicized markets, with securities lending already being a multi-trillion dollar business. The US repo market has an average daily exposure of around $12.6 trillion, margin financing scale reaches $1.3 trillion, wealth management securities-backed loans exceed $400 billion, and the securities lending market has about $4.6 trillion in assets on loan, generating a record $1.5 billion in revenue in 2025. Aave V4, through a "liquidity hub + modular market" structure, can share liquidity at the base layer and set up differentiated markets with various risk parameters, asset scopes, and rules at the upper layer. Aave V4 can support three core securities financing scenarios: securities-backed loans, repo transactions, and securities lending. Tokenized securities can be used as collateral to borrow GHO or stablecoins; repo transactions can use tokenized securities as collateral to borrow stablecoins and achieve atomic settlement; in securities lending, the tokenized securities themselves can become borrowable assets, with loan revenue flowing directly to the asset holder. Stani said that Aave V4 can adopt a single shared liquidity hub or split into multiple hubs based on asset category and risk. The former provides deeper liquidity, while the latter offers stronger risk isolation. He believes that the realistic approach may start with unified liquidity, and as collateral types expand, gradually evolve into a multi-hub structure categorized by asset type and risk.

SEC Commissioner Hester Peirce stated that a clearer regulatory framework should be established for new financial products such as tokenized securities, perpetual contracts, and prediction markets. She also emphasized that self-custody and financial privacy should become fundamental rights in future regulatory systems.