Today’s crypto headlines focused on shifting infrastructure choices: several projects are moving onto Sui or integrating Bitcoin as collateral, while Starknet is exploring a long-term plan to become an independent layer 1 network.
Starknet considers becoming a standalone layer 1
Starknet announced it is actively examining the possibility of becoming an independent layer 1 network, with a stated target of becoming the first fully post-quantum-resistant network by 2027. The news sent the STRK token roughly 20% higher. Eli Ben-Sasson, CEO of StarkWare, clarified that while Starknet currently operates as a layer 2, it cannot be more quantum-secure than Ethereum so long as it remains an L2; Ethereum’s own roadmap for post-quantum infrastructure targets around 2029.
Sui draws AI and data projects
The DATA Network, previously known as Story, will retire its own chain and migrate its AI training-data protocol onto Sui. The Sui Foundation is investing $30 million and will become the largest institutional holder of the DATA token, which will migrate 1:1. Walrus has been selected as the default storage option for DATA Foundation applications. The existing DATA chain will continue operating until the migration and upgrade are completed; detailed timelines will be announced later.
Hashi enables Bitcoin as collateral on Sui
Mysten Labs is rolling out Hashi in phases starting in October. Hashi will enable the use of Bitcoin (BTC) as collateral for Sui applications by issuing hBTC against deposited BTC and burning hBTC when users exit. The project reports capital commitments in excess of $500 million from over 20 partners, including BitGo, Bullish, Cumberland, FalconX, Ledger and Anchorage Digital, noting these are committed amounts rather than already deposited funds.
Orca and Loopscale merge to form Formation
Solana-based decentralized exchange Orca and lending platform Loopscale have merged to create a new company called Formation, led by Loopscale co-founder Luke Truitt as CEO. Orca’s protocol has processed more than $550 billion in volume since 2021, while Loopscale reports deposits above $150 million and loans exceeding $2 billion. Formation intends to finance sectors such as AI, energy, robotics and defense, but the financial terms of the merger were not disclosed.
What these moves imply for the ecosystem
Taken together, the announcements illustrate a reconfiguration of infrastructure and capital flows across the crypto ecosystem. Several projects are migrating to Sui or integrating Bitcoin as a primitive for DeFi on that chain, while Starknet is contemplating the reverse path of moving away from L2 status. The Orca, Loopscale merger signals a trend toward combining trading and lending capabilities and channeling crypto-based financing into real-economy sectors.
This coverage is strictly informational and not investment advice. CRYPTONEA 24 may have financial relationships with parties mentioned.