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India's Tokenized Bond Live, $8.5M Governance Exploit & Ethereum Delayed
Audio is available on Spreaker — see link below.
India's REC settles a tokenized corporate bond using the RBI's wholesale CBDC in a live production test, while a governance exploit drains $8.5M from Term Vaults and Ethereum's Glamsterdam upgrade slips to Q3. Three infrastructure stress tests running simultaneously across crypto markets.
Audio is available on Spreaker — see link below.
India is about to do something no major emerging market has done at scale: settle a corporate bond on a blockchain using central bank digital currency. REC, the state-owned power financier, has a tokenized bond issuance lined up for September, worth just under fifty-seven million dollars.
Now to the week's most damaging security incident. On August twenty-third, an attacker drained Term Vaults of two thousand eight hundred forty-three ETH and one point six eight million USDC, totaling roughly eight and a half million dollars.
The Term Labs drain pushes August's total DeFi losses past twenty-seven million dollars across more than eighteen incidents. Governance attacks specifically have now cost the ecosystem twenty-five point one million dollars year-to-date across five incidents in twenty twenty-six.
Separately, the Ethereum Foundation has confirmed that the Glamsterdam upgrade is delayed to Q3 twenty twenty-six, pushed from its earlier June target. The headline feature is a two hundred million gas limit floor, which would be roughly triple the current sixty million limit.
The through-line across all three stories today is infrastructure under pressure. India is testing tokenized bond settlement in production before the framework is fully set.
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