What is the current price of Ondo (ONDO)?

Ondo (ONDO) current price is $ 0 .599424 , down 6.69% today.

What is the daily trading volume of Ondo (ONDO)?

Ondo (ONDO) daily trading volume is $165.3M

What is the market cap of Ondo (ONDO)?

Ondo (ONDO) current market cap is $1.8B

What is the circulating supply of Ondo (ONDO)?

Ondo (ONDO) current circulating supply is 3.1B

What is the fully-diluted market cap (FDV) of Ondo (ONDO)?

Ondo (ONDO) fully diluted market cap (FDV) is $5.9B

Ondo (ONDO) Crypto Price, Chart, News and AI analysis

Nov 03 2025, 15:44

Donut Labs Secures $22 Million Total Funding for AI-Driven Crypto Browser Development

## Executive Summary Donut Labs has completed a $15 million seed funding round, bringing its total capital raised to $22 million, to advance its AI-powered crypto trading browser. ## The Event in Detail Donut Labs, the developer behind the AI-driven "Donut Browser," has concluded a seed funding round, securing an additional $15 million. This latest infusion of capital, contributed by investors such as **BITKRAFT, Makers Fund, Sky9 Capital, Altos Ventures, and Hack VC**, elevates the company's total funding to $22 million since its inception six months prior. The funding rounds have also seen participation from Sequoia China, HSG, MPCi, and key figures from the **Solana, Sui, and Monad** ecosystems, as well as core teams from **Jupiter, Drift, DeFi App, and Manifold Trading**. ## Financial Mechanics The total funding of $22 million for Donut Labs comprises both pre-seed and seed rounds. The initial pre-seed funding, reportedly $7 million, contributed to the firm's early development, with the recent $15 million seed round completing the total. This capital allocation is specifically designated to support engineering expansion and the advancement of AI model development for the Donut Browser platform. ## Business Strategy & Market Positioning Donut Labs' strategic objective is to revolutionize financial internet interactions by developing an "AI quant in the browser," as stated by CEO Chris Zhu. The Donut Browser is engineered to serve as an AI-powered "agent" that automates cryptocurrency trading, risk analysis, and on-chain strategy execution. It integrates features such as signal discovery, risk assessment, strategy generation, and on-chain execution. The browser is designed to interpret user intent and automate crypto transactions in real-time, featuring a built-in wallet, DEX integration, and dApp connectivity. Its AI capabilities are intended to screen risks, securely sign transactions, and minimize fees, making crypto more accessible. The company reports a waiting list exceeding 160,000 individuals, indicating substantial market interest in its offering. This strategy aligns with the growing trend of integrating AI-powered autonomous economic agents into the Web3 landscape to coordinate and execute complex actions across decentralized systems. ## Market Implications The successful funding of Donut Labs underscores the accelerating convergence of artificial intelligence and Web3 technologies, particularly in the realm of on-chain trading. This development could catalyze the adoption of AI-driven tools for cryptocurrency trading and strategy execution, potentially attracting new users and capital to the decentralized finance sector. The emergence of autonomous economic agents, capable of executing sophisticated trading strategies with precision, signifies a potential shift in how individuals and institutions interact with crypto markets. However, the proliferation of browser extensions, particularly those handling sensitive financial data, introduces security considerations. Historically, malicious cryptocurrency-themed browser extensions have led to significant financial losses due to vulnerabilities like intercepting private keys and transaction details. Donut Labs addresses these concerns through architecturally isolated signing environments and AI-powered risk screening, aiming to secure transactions while optimizing for speed and cost. ## Expert Commentary **Chris Zhu**, CEO of Donut Labs, commented on the browser's capabilities, stating, "Architecturally isolated signing environments and AI-powered risk screening secure every transaction while optimizing execution for speed and cost. AI translates opaque calldata into plain English and assigns safety grades." This emphasizes the company's focus on security and user-friendliness within the complex environment of blockchain transactions. ## Broader Context The investment in Donut Labs reflects a broader venture capital trend towards AI-agent-based Web3 platforms. Over $1.4 billion has been raised this year alone for such platforms, according to industry reports. This signifies a recognition of AI's potential to enhance and automate economic tasks within blockchain ecosystems. Donut Labs' "agentic" browser positions it as a key player in this evolving landscape, contributing to the development of a more efficient and automated Web3 economy by leveraging AI for tasks traditionally requiring significant manual intervention and expertise. The company's growth is indicative of the increasing demand for sophisticated tools that simplify and secure participation in the decentralized economy. Some industry observers also highlight the importance of new Web3 infrastructure standards, such as Coral Protocol, which are designed to enable AI agents to coordinate, communicate, and complete economic tasks securely and transparently across decentralized systems, further supporting the ecosystem Donut Browser operates within.

Nov 03 2025, 10:35

HashKey Capital CEO Signals Optimal Time for Institutional Crypto Entry Amid Maturing Regulations and Robust Market Growth

## Executive Summary HashKey Capital CEO **Deng Chao** asserts that maturing regulatory systems and professional infrastructure now present an optimal entry point for institutions into the crypto market, reflecting accelerating mainstream adoption and robust investment inflows. ## The Event in Detail During **Hong Kong Fintech Week**, **HashKey Capital** CEO **Deng Chao** articulated that the time is opportune for institutional participation in the crypto market. He emphasized the maturing nature of both regulatory systems and the underlying professional infrastructure as primary catalysts. HashKey Capital, which has managed institutional-grade funds since 2018, oversees over **US$1 billion** in client assets and recently closed its **Fund III** with **US$500 million** in commitments. This fund is designed to provide investors with exposure across various blockchain and crypto technologies. Deng Chao specifically noted the improving regulatory landscapes in **Hong Kong** and **Singapore**, positioning them as key regions fostering digital asset growth. A significant future trend identified by Deng Chao is the deep integration of **Real World Assets (RWA)** and **Digital Asset Treasury (DAT)**, underscoring blockchain's inherent capacity to carry value. ## Market Implications The pronouncements from **HashKey Capital** coincide with a period of accelerated institutional adoption and market maturity within the digital asset space. According to **Andreessen Horowitz's State of Crypto 2025** report, the industry achieved mainstream adoption in 2025, with traditional finance (TradFi) and fintech players intensifying their engagement. The report highlights that global crypto market capitalization surpassed **$4 trillion** for the first time, supported by a significant increase in active users, estimated between **40 million** and **70 million**. Further underscoring this trend, tokenized **Real-World Assets (RWA)** have experienced a substantial surge, growing by **260%** from **$8.6 billion** to over **$23 billion** in 2025. Private credit and **U.S. Treasury** debt constitute the majority of these tokenized assets, accounting for **58%** and **34%** respectively. Notably, **BlackRock's BUIDL** tokenized Treasury fund expanded from **$649 million** to **$2.9 billion**, representing an increase of nearly **350%**. This growth signals increasing investor confidence and demand for regulated, digitally native financial products. ## Expert Commentary Industry analysis consistently points to robust regulatory frameworks as a critical factor driving institutional confidence. The **European Union's Markets in Crypto-Assets Regulation (MiCAR)**, fully operational since January 2025, provides a unified regulatory approach that fosters innovation and investor protection. Similarly, **Hong Kong** is actively easing rules to encourage crypto trading, with the **Securities and Futures Commission (SFC)** finalizing licensing rules for dealers and custodians. The city's central bank is also slated to issue the first licenses for stablecoin issuers in 2025, alongside allowing licensed crypto trading platforms to connect local entities with global order books. These regulatory advancements are perceived as signals that digital assets are establishing a permanent presence in the financial landscape. ## Broader Context The acceleration of institutional engagement is profoundly reshaping the global financial ecosystem. Institutional crypto adoption is expected to continue with measured integration, leading to enhanced market stability and liquidity. The success of **Bitcoin** and **Ethereum** spot **ETFs** has set a precedent, potentially paving the way for approvals of other single-token ETFs, such as those for **Solana** or **XRP**. Projections indicate that institutional holdings of **Bitcoin** could reach **$414 billion** by August 2025, potentially shifting the ownership landscape from retail to institutional dominance. The launch of **Ethereum** spot ETFs in July 2024 injected over **$12 billion** in institutional capital by August 2025, with total net assets reaching **$18.37 billion**. By October 2025, **Bitcoin** surged past **$120,000**, briefly touching **$126,000**, driven by a significant demand-supply gap exacerbated by **ETFs** like **BlackRock's iShares Bitcoin Trust (IBIT)** accumulating vast amounts of **BTC**. The fundamental relationship between **blockchain** and **Web3**, emphasizing decentralization and digital ownership, remains a core driver for this long-term shift towards a more open and user-centric internet, with cryptocurrencies facilitating value transfer and network participation.

Nov 03 2025, 07:11

Crypto Crime Surges to Billions Amidst Evolving Global Regulatory Frameworks

## Executive Summary A comprehensive analysis of virtual currency criminal cases over the past five years indicates a substantial increase in illicit activities and stolen funds within the crypto market, prompting evolving regulatory and enforcement strategies globally. ## The Event in Detail LanDi Research's whitepaper, examining 2,206 criminal cases related to virtual currencies from 2019 to 2024, reveals a sustained pattern of illicit engagement. The study identified Hunan, Henan, Zhejiang, Fujian, and Guangdong provinces as high-incidence areas for virtual currency-related crimes in China. The analysis underscores the growing integration of virtual currencies in various criminal enterprises, including money laundering, fraud, and illegal fundraising. A notable example is the Dinghai District Court in Zhoushan, Zhejiang Province, which concluded a case involving over 5 million yuan in **USDT** used to facilitate cybercrime. From October 2022 to August 2023, individuals registered fictitious businesses on an overseas cryptocurrency platform to profit through arbitrage and profit sharing, aiding the transfer of funds linked to telecommunications fraud. The primary defendant received a sentence of two years and eleven months in prison and a 50,000 yuan fine for aiding and abetting cybercrime. ## Financial Mechanics and Crime Trends The financial landscape of crypto crime continues to expand, with stolen funds increasing significantly. In 2024, approximately **$2.2 billion** was stolen, marking a 21% year-over-year rise. **Private key compromises** constituted the largest share, accounting for 43.8% of the total stolen crypto. **North Korean hackers** were particularly prominent, responsible for **$1.34 billion** in 2024, representing 61% of all funds stolen from crypto platforms during the year. Furthermore, illicit cryptocurrency addresses received an estimated **$40.9 billion** in 2024, with some projections suggesting the actual figure could be closer to **$51 billion** based on historical trends. The first half of 2025 has already seen over **$2.17 billion** stolen from cryptocurrency services, surpassing the entirety of 2024's figures. The **DPRK's ByBit hack**, valued at **$1.5 billion**, stands as the largest crypto theft in history, comprising approximately 69% of all funds stolen from services year-to-date in 2025. This surge in theft reflects an adapting criminal landscape where stablecoins now represent 63% of all illicit transaction volume, indicating a diversification away from **Bitcoin (BTC)**, which was previously the primary choice for cybercriminals until 2021. Geographically, the U.S., Germany, Russia, Canada, Japan, Indonesia, and South Korea have reported the highest victim counts in 2025, with North America leading in both **Bitcoin** and altcoin theft. ## Regulatory and Legal Landscape Shifts In response to the evolving nature of digital asset crime, regulatory bodies are adjusting their approaches. The U.S. Department of Justice (DOJ) announced a significant policy shift on April 7, 2025, titled \"Ending Regulation By Prosecution.\" This memorandum signals a move away from pursuing cases related to regulatory violations by cryptocurrency entities, instead prioritizing criminal activity that directly impacts investors or facilitates crimes such as terrorism, narcotics trafficking, and human trafficking. The **National Cryptocurrency Enforcement Team**, established in 2022, has been dissolved under this new directive. Globally, the regulatory environment is also crystallizing. The European Union's **Markets in Crypto-Assets (MiCA)** regulation, fully effective in late 2024, is establishing a benchmark for global standards. Jurisdictions like Dubai, Singapore, and Switzerland are positioning themselves as regulatory safe harbors through clear licensing regimes and streamlined compliance pathways for **Web3** enterprises. However, challenges in prosecuting crypto-related crimes persist, particularly due to outdated legislation. Many relevant laws, such as the UK's Fraud Act (2006) and the Proceeds of Crime Act (2002), predate the invention of cryptocurrencies in 2009, making their application to digital assets complex. The transnational nature of these crimes further complicates jurisdictional issues and international cooperation. ## Broader Market Implications The confluence of escalating crypto crime and a dynamic global regulatory environment presents significant implications for the digital asset market and the broader **Web3** ecosystem. While the DOJ's policy shift aims to foster innovation by focusing enforcement on overt criminal acts rather than regulatory nuances, the persistent financial losses from theft and fraud continue to challenge investor confidence and broader market stability. The adaptation by criminals to utilize stablecoins for illicit transactions underscores the need for continuous vigilance and enhanced security protocols across all digital asset platforms. The ongoing analysis of criminal cases and the development of specialized regulatory frameworks globally indicate a sustained effort to bring clarity and security to the virtual currency space. However, the prevalence of high-value hacks and the inherent difficulties in prosecuting transnational crypto crimes highlight the ongoing need for robust technological safeguards, improved legislative frameworks, and strengthened international collaboration to mitigate risks and ensure the long-term integrity of the digital asset market.

Nov 03 2025, 04:23

Crypto Industry Struggles with Long-Term Value Amid Rapid Narrative Shifts and Short Product Cycles

## Executive Summary The cryptocurrency industry is grappling with a fundamental challenge: the consistent struggle to build long-term value. This issue is primarily driven by an environment characterized by rapid narrative shifts, short product cycles, and an ecosystem where capital frequently chases new trends rather than supporting sustainable development. This dynamic often results in projects pivoting prematurely at the first sign of resistance, hindering the establishment of enduring value and robust product development. ## The Event in Detail The crypto market exhibits a structural opposition to long-term thinking, marked by short product cycles and a tendency for capital to pursue new narratives over sustainable projects. According to Ten Protocol's Head of Growth, Rosie Sargsian, many crypto projects adopt a strategy of "**sunk-cost-maxxing**," where founders pivot rapidly at the first sign of trouble, slow user growth, or fundraising difficulties. This approach contrasts sharply with traditional business advice to avoid the sunk cost fallacy by adapting, yet in crypto, it means "nobody stays with anything long enough to know if it works." This fosters an "**18-Month Product Cycle**," where new narratives emerge, attract funding, and then lead to widespread pivots as founders chase the latest hype. The evolution of narratives is evident in historical shifts, such as the transition from **Initial Coin Offerings (ICOs)** in 2017 to **launchpads**. While ICOs promised a revolution in venture capital, many projects failed to sustain momentum, leading to a shift towards more refined investment mechanisms facilitated by exchanges. This constant narrative fluctuation, pushing concepts like Decentraland (**MANA**), The Sandbox (**SAND**), Axie Infinity (**AXS**), and Render Network (**RNDR**) to prominence, underscores the limitations of narratives in guaranteeing long-term success. ## Market Implications The prevailing short-term focus has several significant market implications. The constant pursuit of new narratives by capital means that projects often lack the necessary runway for meaningful development. Paul Veradittakit, a partner at Pantera Capital, has noted that **12-18 months is insufficient time to build anything substantial** in the **Web3** space. This short timeframe impedes experimentation, iteration, and the delivery of impactful solutions. Furthermore, this environment makes **team retention** challenging. Talent is frequently lured to projects with current hype, leading to **compensation inconsistencies**, weak remote cultures, and poor onboarding processes within existing projects. User attention is also fleeting, moving with the latest trends, creating "digital ghost towns" and "mercenary users" within the blockchain ecosystem. The struggle to build long-term value reinforces a bearish sentiment regarding the sustainability of the industry's current approach. ## Expert Commentary Experts within the **Web3** space highlight the detrimental effects of this short-term vision. Rosie Sargsian criticizes the "sunk-cost-maxxing" phenomenon, stating that it prevents projects from gaining the necessary traction to evaluate their viability. She argues that the rapid **18-Month Product Cycle** contributes to an environment where projects are perpetually chasing funding and attention rather than focusing on core development. Paul Veradittakit emphasizes the critical need for more time and capital for **Web3** builders. He advocates for projects to have sufficient runway to navigate the complexities of the crypto industry, experiment, and iterate to deliver meaningful solutions. This perspective underscores a call for **crypto VCs to adopt a long-term, visionary approach**, akin to traditional firms, to foster transformative projects rather than prioritizing short-term gains. ## Broader Context ### Deconstructing Financial Mechanics and Capital Flow In the crypto world, narratives act as the primary "steering wheel of capital." Instead of capital flowing based on traditional financial metrics or proven business models, it is often directed by emerging trends and speculative interest. This mechanism means that investment is frequently reactive to new narratives, leading to a rapid rotation of funds. The rapid funding shifts, exemplified by a nearly **60% drop in crypto venture funding in Q2 2025**, illustrate how quickly capital can retract when a narrative loses momentum. This necessitates a more strategic approach to capital deployment, where in-depth research into selected narratives is crucial to plan ahead, rather than chasing every upward trend. ### Business Strategy and Market Positioning The prevailing business strategy in crypto, driven by the need to attract capital through new narratives, often contrasts with a sustainable, long-term approach. While some projects, like **Kite**, attempt to build self-reliant ecosystems through thoughtful tokenomics, allocating significant portions (e.g., **48% of 10 billion tokens**) to community development, user rewards, and **dApp** development, these are often exceptions to the broader trend. The industry requires a shift towards a strategy that prioritizes enduring value creation over transient hype. The call for **crypto VCs** to act as "cathedrals' architects," focusing on building lasting value, suggests a need for venture capital to emulate the patient, visionary capital models of traditional firms like **KPCB** and **Sequoia**. ### Broader Web3 Market Implications The inability to foster long-term value directly impacts the growth and maturation of the broader **Web3** ecosystem. While emerging sectors like **Real-World Asset (RWA) tokenization**, which is projected to become a cornerstone of modern finance by **2025** with its promises of transparency and liquidity, and **Web3 gaming**, which saw over **$1.1 billion in investments in Q1 2024**, show potential for sustained growth, their success hinges on projects being given the time and capital to develop. The development of standards like **ERC-8004** for **AI agents as tokenizable objects** and open inter-agent payment channels like **x402** by **Coinbase** (forecasting a **$30 trillion economy by 2030**) represent long-term infrastructure plays. However, their full potential can only be realized if the industry moves beyond short-term narrative cycles and embraces a more patient, development-focused approach. The challenge remains to activate mainstream users and content creators within **Web3** by integrating seamless on-chain experiences that reward user interaction, as platforms like **T-Rex** aim to do, effectively countering the "digital ghost towns" problem through a sustained "attention economy."

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