The chain abstraction stablecoin protocol River announced that it has received a strategic investment from the Maelstrom Fund, a crypto fund under Arthur Hayes

The chain-abstract stablecoin protocol River announced a strategic investment from the Maelstrom Fund, a crypto fund founded by BitMEX founder Arthur Hayes. According to the official announcement, this investment will support River in expanding its chain-abstract stablecoin system and ecological development, promoting the circulation and application of on-chain capital.

It is reported that River allows users to deposit assets such as BTC, ETH, and BNB on one chain and natively mint satUSD on another chain, seamlessly participating in various yield opportunities. River's stablecoin has integrated over 30 protocols, such as Morpho, Pendle, and ListaDAO, and has been deployed to mainstream ecosystems like Ethereum, BNB Chain, and Base, with a TVL exceeding $300 million and a circulation of satUSD surpassing $100 million.

Before the announcement of this investment, the $RIVER token briefly rose to $25 (currently reported at $14.2), reaching new highs for several consecutive days, with a weekly increase of up to 600%. The total trading volume across the network exceeded $3 billion. Among them, the 24-hour trading volume of Binance perpetual contracts once surpassed $1.7 billion, second only to mainstream tokens like BTC and ETH, and ranked in the top five for contract trading volume on multiple CEXs.