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Harmony to fully sunset Layer 1, proposes token migration to Ethereum for AI video initiative
Harmony announced Sunday that it plans to sunset its Layer 1 blockchain and proposed migrating its native ONE token to Ethereum, citing continued security threats.
"The threats posed by state actors and AI agents are too great," Harmony wrote in its X announcement. "Since our mainnet launch in 2019, our community has been resilient through attacks and changes — but it is time to fully sunset the Harmony network."
Harmony said it would help validators transition into new roles in the platform's proposed new initiative involving a "remix economy" with AI video creators.
Spot bitcoin ETFs pull in $987 million last week as institutional demand recovers
U.S. spot bitcoin exchange-traded funds reported $986.9 million in net inflows last week, extending their positive flows to three straight weeks amid renewed institutional demand.
According to SoSoValue data, last week's net inflows rose from $924.5 million the prior week. BlackRock's IBIT led the funds with $691.5 million in net inflows for the week ended Sept. 4.
Meanwhile, spot ether ETFs recorded $ $218.4 million in net inflows last week, also marking their third consecutive week of positive flows. Their weekly trading volume amounted to $4.1 billion, down from $6.3 billion the previous week.
The latest inflows followed a strong August for both sets of ETFs. Spot bitcoin ETFs drew in $3.52 billion in monthly net inflows, their largest monthly positive flows since September 2025. Spot ether ETFs brought in $1.85 billion last month, which marked their strongest month since August 2025.
Bitcoin-based Liquid Network says $320 million withdrawn in hack
Liquid Network, a Bitcoin-based payments and settlement network, said on Sunday that about $320 million was withdrawn from its federation wallet in a hack.
"Purported white-hat hackers" withdrew around 4,000 of the 4,200 bitcoin held in its Liquid Federation wallet, Liquid Network said in a post on X.
"Liquid wallets will be impacted, and we're sorry for any inconvenience," Liquid Network said, adding that it has halted new transactions.
Bitcoin & Ethereum Spot ETF Flow
The overall net inflow of the US Bitcoin spot ETF on Friday was $174.60 million. The total net asset value of Bitcoin spot ETFs is $101.25 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.33%.
The Bitcoin spot ETF with the highest net inflow on September 4 was iShares Bitcoin Trust (IBIT), with a net inflow of $117.38 million, according to SoSoValue.
Source: SoSoValue
The overall net inflow of the US Ethereum spot ETF on Friday was $26.46 million. The total net asset value of Ethereum spot ETFs is $15.57 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 5.20%.
The Ethereum spot ETF with the highest net inflow on September 4 was iShares Ethereum Trust ETF (ETHA), with a net inflow of $57.79 million, according to SoSoValue.
Source: SoSoValue