Across Protocol’s Risk Labs-operated relayer lost less than $4 million after an attacker fabricated $41.7 million in Solana deposit events, according to a post-incident report released by the cross-chain protocol.
Summary
1,627 fake deposits worth $41.7 million targeted 18 chains during the Solana attack. Risk Labs’ relayer paid $4.5 million across 581 fraudulent requests before suspending service. Around $500,000 in attacker funds remained trapped, reducing the net loss below $4 million. Across restored Solana transfers through CCTP, while user funds and the ACX buyback remained unaffected. Across attacker forged 1,627 Solana deposits The attack occurred between 05:07 and 06:14 UTC on July 17, according to the Across Protocol post-mortem. The attacker used 1,627 single-use Solana wallets to create the same number of fake deposit events.
Those deposits carried a combined face value of approximately $41.7 million and requested payments across 18 destination chains. Across reported that the funds were directed toward one recipient address on an Ethereum Virtual Machine-compatible network.
Risk Labs’ relayer filled 581 requests before Across stopped Solana operations. Those payments represented about 35.7% of the fraudulent requests but only 10.8% of their stated value.
The relayer advanced approximately $4.5 million of its own capital. Across invalidated the remaining 1,046 requests, preventing about $37 million in additional payouts.
Approximately $500,000 belonging to the attacker remained trapped within the protocol. Across deducted that amount from the gross payout to place its net loss below $4 million.
Why Across users avoided the relayer loss Across attributed the breach to a flaw in Risk Labs’ off-chain event-reading software rather than a vulnerability in its smart contracts. The protocol also reported that the attacker did not compromise the Solana network.
Across uses relayers that advance their own assets to complete cross-chain transfers before claiming repayment. That structure left Risk Labs’ relayer responsible for the loss instead of users who had submitted legitimate transactions.
All valid transfers were completed or fully refunded on July 17, according to Across. The protocol’s website shows that it has processed more than $34 billion in transfers without reporting a loss of user funds.
The incident differed from the Lien Finance exploit reported by crypto.news on July 24. SlowMist found that Lien’s attacker exploited a smart contract validation flaw to mint unsupported bond tokens and withdraw approximately 542,144.63 USDC.
crypto.news also reported that a wallet linked to the $285 million Drift Protocol exploit moved 23,095.1 ETH, worth about $44.4 million, through Tornado Cash on July 23 and July 24. Together, the incidents involved separate attack methods: off-chain software failure at Across, faulty contract logic at Lien, and post-exploit laundering tied to Drift.
What the CCTP shift means for US users Across restored Solana service in approximately 12 hours by routing transfers through Circle’s Cross-Chain Transfer Protocol. The protocol reported that its engineers deployed the root-cause fix about five hours after the attack.
The change has a direct U.S. connection because Circle issues USDC and operates CCTP. Circle states that CCTP burns native USDC on the source network and mints the same amount on the destination network without using traditional bridge liquidity pools or third-party fillers.
For U.S. users moving USDC to or from Solana, the fallback allowed transfers to resume without relying on the affected Risk Labs event reader. The Across breach did not involve USDC’s reserves or Circle’s minting contracts, according to the protocol’s findings.
The shift also comes after the United States established its first federal payment-stablecoin framework through the GENIUS Act. The law requires permitted issuers to maintain qualifying reserves and publish regular disclosures, according to a White House fact sheet. Those rules govern stablecoin issuers rather than the separate relayer software that caused the Across loss.
ACX buyback remains unchanged ACX traded near $0.041 after the post-mortem, with a market capitalization of about $29 million, according to CoinGecko. The token remained more than 97% below its all-time high.
Across stated that the loss would not affect its planned ACX token buyback. However, the protocol did not disclose whether Risk Labs would change its relayer funding, monitoring systems or operating limits.
Solana order flow remains routed through CCTP. Across has not provided a timeline for returning to its earlier routing system or announced the recovery of any additional funds.
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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
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Across Protocol, one of the largest cross-chain bridge platforms in crypto, confirmed on July 17 that its Solana bridge deployment was hit by an attack. The good news: user funds appear untouched. The less good news: it’s another reminder that bridges remain crypto’s favorite punching bag for exploiters.
The incident was detected at approximately 5:30 AM UTC, and the team moved quickly to disable Solana deposits as a precautionary measure. All transactions completed before the attack were secured, and the protocol continues to function normally on other supported chains like Ethereum and Base.
What happened and who’s exposed Here’s the thing about this attack: the potential losses appear limited to a very specific bucket. Only funds associated with the relayer operated by Risk Labs, the foundation that supports Across Protocol, are considered at risk. That’s an important distinction. In the world of bridge exploits, where users often wake up to find their deposits evaporated, this outcome is about as contained as it gets.
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Across uses what’s called an intent-based architecture. Think of it like placing an order at a restaurant: you state what you want (move tokens from Chain A to Chain B), and a relayer fills that order using their own capital, getting reimbursed later. The relayer takes on the risk, not the user. In this case, Risk Labs was operating that relayer on the Solana side, which is why their funds, not users’ funds, are the ones in the crosshairs.
The protocol employs an optimistic verification model powered by the UMA oracle. Transactions are assumed valid unless someone challenges them within a dispute window.
Across has stated that a full post-mortem analysis will be published in the coming days. The team is also working with SEAL_911, a well-known crypto security response group, to monitor addresses linked to the attack.
A $35 billion track record, now with an asterisk Before this incident, Across Protocol had processed over $35 billion in transaction volume without a single exploit. Its intent-based model was specifically designed to reduce the attack surface by keeping user funds out of vulnerable smart contract pools. That design philosophy appears to have held up here: users weren’t exposed.
What this means for investors If you had funds moving through Across’s Solana bridge, they appear safe. If you’re planning to bridge assets to or from Solana via Across, you’ll need to wait. Deposits on that chain are disabled until further notice.
The bigger question is what the post-mortem reveals. Was this a smart contract vulnerability specific to the Solana deployment? A relayer configuration issue? Something in how the UMA oracle interacted with Solana’s architecture? The answer matters, because it determines whether this was a one-off implementation bug or something that could theoretically affect other chains in the Across ecosystem.
Traders and liquidity providers who interact with Across on other chains should monitor the post-mortem closely. If the vulnerability turns out to be Solana-specific, operations on Ethereum, Base, and other supported networks should remain unaffected. But if the root cause touches shared infrastructure, the calculus changes fast.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
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Velora plans to leverage the Across Protocol to enable users to perform cross-chain swaps in a single transaction.
Cross-chain interoperability is one of the most important trends in crypto today. On Thursday, April 17, DEX platform Velora partnered with Across Protocol. In a press release shared with crypto.news, the company stated that the partnership will allow users to easily swap assets across multiple chains.
The integration of the Across Protocol will enable Velora users to trade assets across more than 17 chains. Moreover, traders will be able to execute swaps between any of these chains in a single transaction.
Velora leverages the Across Protocol for better user experience Typically, swapping assets across chains involves wrapping tokens, bridging them to another chain, and then swapping the wrapped tokens on a DEX that supports the pair. The process can be technical for inexperienced users.
While Velora still sources liquidity from several DEXs, the entire process will now function behind the scenes, thanks to the Across Protocol. According to Mounir Benchemled, founder of Velora, this is a major step toward making complex blockchain operations seamless for users.
“By combining Velora’s trading optimization with Across’ crosschain capabilities, we’re creating a unified experience that makes complex blockchain interactions seamless,” Benchemled, Velora.
Cross-chain swaps will focus on the Ethereum (ETH) ecosystem, bridging 17 Ethereum virtual machine-compatible chains. The company states that this is an important step in making the EMV ecosystem more interoperable and compatible.
Cross-chain interoperability is one of the most important trends in crypto today. Different chains have different strengths, whether it’s decentralization or speed. This also means that they are best suited for specific use cases.
The Ethereum ecosystem, in particular, benefits from a shared technological foundation. This allows Ethereum and its layer-2 networks to communicate seamlessly, enabling dApps and DeFi protocols to operate across multiple chains.
ACX, the native token of Across Protocol, has dropped sharply following serious allegations of insider self-dealing involving $23 million in decentralized autonomous organization funds.
The token is trading at $0.1342, down 10% in the past 24 hours and over 40% in the past month. It’s now 91% below its all-time high of $1.69 set in December 2024.
The allegations were made public on June 27 by Ogle, the pseudonymous founder of Layer 1 project Glue and advisor to World Liberty Financial. In a detailed post on X, Ogle accused the Across Protocol team, particularly project lead Kevin Chan and chief executive officer Hart Lambur, of orchestrating two secretive proposals that directly benefited their own company using undisclosed wallets.
TLDR: Across Protocol/Bridge ($ACX) team used secret votes to extract ~$23m from the Across DAO’s treasury for their own private company's benefit.
Background: I’ve many times posted about DAOs that are DAOs “in name only” – that is, organizations that pretend to be run by “the…
— ogle | glue.net (@cryptogle) June 26, 2025 These proposals, made to appear as having community support, transferred 150 million ACX tokens worth about $23 million at current prices to Risk Labs over two separate governance votes. The first vote in October 2023 granted 100 million ACX under the pretense of future development support, with claims that the tokens would not be sold for two years.
But soon after, Risk Labs allegedly began selling token option agreements to external investors A second vote, for “retroactive funding” of 50 million ACX, passed primarily due to insider-controlled wallets. Without those votes, it would not have reached quorum.
The report argues that such actions run counter to DAO governance principles and create significant future sell pressure, especially harmful to ACX holders unaware of the conflicts of interest behind these decisions. Across Protocol has not publicly responded to the allegations at the time of writing.
Looking at the technical picture, the chart shows clear downward pressure. The token is currently hugging the lower Bollinger Band at $0.1308 and trading below its 20-day simple moving average of $0.1597. At 31.27, the relative streghth index, which is trending downwards, is close to oversold territory.
ACX price analysis. Credit: TradingView More declines may occur if the price breaks through the $0.13 support zone. Some investors may watching for a bounce move back toward the mid-Bollinger band despite the sell-off. However, in the short term, upward momentum might be limited due to deteriorating sentiment and eroded trust in the team.
Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.
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Last updated:
June 27, 2025
The Across Protocol team faces serious allegations of misappropriating approximately $23 million from their Decentralized Autonomous Organization (DAO) treasury through allegedly manipulated governance votes, according to claims made public on June 27.
The Ethereum-based cross-chain bridge protocol stands accused of transferring funds to Risk Labs, a private for-profit company founded by the same team behind Across Protocol.
Web3 Advisor Drops Bombshell on Across Protocol FraudThe allegations originated from Ogle, founder of Glue Net and advisor to Trump-affiliated World Liberty Financial (WLFI), who claimed the Across Protocol team orchestrated the transfer of 150 million ACX tokens (valued at $23 million) to Risk Labs under the pretense of “strategic investment” and “retroactive funding.”
According to Ogle’s analysis, the protocol’s co-founders and insiders allegedly manipulated governance proposals, circumventing the DAO’s democratic decision-making process to extract tokens from the treasury they were entrusted to safeguard.
TLDR: Across Protocol/Bridge ($ACX) team used secret votes to extract ~$23m from the Across DAO’s treasury for their own private company's benefit.
Background: I’ve many times posted about DAOs that are DAOs “in name only” – that is, organizations that pretend to be run by “the…
— ogle | glue.net (@cryptogle) June 26, 2025 Ogle contacted key figures, including Kevin Chan (Risk Labs treasurer) and Hart Lambur (Across Protocol CEO), both of whom he described as “very responsive.”
However, marketing head James Richard Fry was “almost completely unhelpful” and “dismissive” when approached about the allegations.
Despite his confidence in the findings, Ogle acknowledged that on-chain data analysis carries inherent risks of error, stating he had conducted extensive due diligence before making the allegations public.
Secret Wallets Exposed: How Insiders Allegedly Stole $23M in Broad DaylightThe controversy centers on two separate governance proposals. In October 2023, Kevin Chan publicly submitted a proposal requesting that 100 million ACX tokens (approximately $13.5 million at current market rates) be transferred from the DAO to Risk Labs.
The proposal was presented as a strategic investment in Across Protocol’s future, with explicit assurances that the tokens would not be sold for two years to address community concerns about potential market impact.
Source: Across ProtocolThe proposal appeared to have broad DAO support, but blockchain analysis allegedly revealed coordinated insider voting.
While Chan publicly submitted the proposal via his “KevinChan.Lens” address, he allegedly cast a massive “yes” vote from a separate “maxodds.eth” wallet, traced back to him through his Friend.tech account and family member addresses.
The voting effort extended beyond Chan. Team member Reinis FRP allegedly used millions of ACX tokens across multiple secret wallets, while the second-largest voting wallet, representing 14% of votes, was allegedly funded by founder Hart Lambur.
A year later, the team requested another $7.5 million in “retroactive funding.” Chan’s secret wallets again accounted for 44% of the “yes” votes.
Source: Across ProtocolThis second proposal raised additional concerns when team members disclosed in discussion forums that they had been selling token option agreements to “strategic investors” using tokens from the first proposal, effectively monetizing rights to the tokens before the two-year holding period expired.
Across Protocol Founder Deny Everything: ‘We Do Things the Right Way'”Hart Lambur responded decisively to the allegations, categorically denying any wrongdoing.
I am the founder of Across. The allegations in here are categorically untrue and I will vigorously defend our protocol and our team.
In no way has the Across team "extracted" value from the DAO. That is so insane it's hard to even respond to.
I've been building in this space…
— Hart Lambur (⛺️,⛺️) (@hal2001) June 27, 2025 “In no way has the Across team ‘extracted’ value from the DAO. That is so insane it’s hard to even respond to,” Lambur stated. “I’ve been building in this space for 6 years. Me and my team are some of the few long-term builders that do things the right way.”
The allegations have resonated within the cryptocurrency community. A founder and investor at Bless Network supported Ogle’s claims, thanking him for “exposing the rot in the system” and noting that such “deceptive value extraction via DAO happens all the time.”
The creator of the Ethereum game Lineabros Universe urged Ogle to investigate similar practices at Lido DAO, the team behind the popular liquid staking protocol.
Market ImpactThe allegations have had a significant impact on ACX token holders. The token declined 11.63% on the day the allegations surfaced, extending its 30-day losses to 40..95%.
Currently trading at $0.1355, ACX has lost nearly all its value from its $1.74 all-time high reached seven months ago.
Source: CoinMarketCapThis pattern looks similar to recent incidents in the space. Two months ago, OM, the native token of the MANTRA blockchain project, lost more than 90% of its value in a single day amid similar allegations of insider misconduct, erasing over $6 billion in market capitalization.
Across Protocol’s core team was accused of using hidden wallets to sway DAO votes and funnel $23 million to a private company.
(Photo of Element5 Digital on Unsplash)
Posted June 27, 2025 at 8:50 am EST.
Glue’s pseudonymous founder Ogle has publicly accused the Across Protocol team of manipulating DAO votes and extracting around $23 million from the DAO treasury.
In a post on X, Ogle said the Across team used secret wallets to influence DAO voting outcomes, enabling them to transfer funds from the DAO treasury to a private company associated with the team.
One alleged example includes an October 2023 proposal that requested 100 million ACX (valued at around $15 million at the time) to be sent to Risk Labs, the core development company behind Across.
This story is an excerpt from the Unchained Daily newsletter.
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Ogle claims that the main project lead, Kevin Chan, used his public wallet to submit the proposal but then used a different, less obvious wallet (maxodds.eth) to cast a large “yes” vote. The second-largest voting wallet was linked to Hart Lambur, founder of both Risk Labs and Across.
Almost a year later, another proposal asked for 50 million more ACX tokens, worth around $7.5 million. Once again, secret wallets controlled by the team reportedly made up a huge portion of the “yes” votes—enough to push the proposal past the required quorum.
“The allegations in here are categorically untrue and I will vigorously defend our protocol and our team,” Across’ Lambur said in response to the post.
Lambur rejected claims of secret DAO votes and early sales, and asserted that Across Protocol's proposals were transparent and aligned with the DAO's intended goals.
Ogle, a pseudonymous crypto sleuth and founder of Layer 1 project Glue, has alleged that the Across Protocol team used a web of undisclosed wallets to steer DAO votes in their favor, which enabled the team to transfer almost $23 million from the Across DAO treasury to their private company, Risk Labs.
According to Ogle, while Across operates under the appearance of decentralized governance, insiders, including project lead Kevin Chan and CEO Hart Lambur, orchestrated governance proposals requesting large grants from the DAO under the premise of benefiting the protocol but used hidden, insider-linked wallets to manufacture the appearance of broad community support.
Allegations of $23M DAO Manipulation Ogle, who also happens to be an adviser for Donald Trump-tied WLFI, claimed that on-chain traces suggest that wallets tied to Chan, including “maxodds.eth,” and others, funded by Lambur and team members, cast decisive “yes” votes to pass treasury proposals that may not have cleared quorum otherwise.
He also spoke about a 2023 proposal that transferred 100 million ACX, then valued around $15 million, to Risk Labs under terms that stated the tokens would not be sold for two years, though later discussions indicated token option sales to strategic investors, contradicting initial claims.
A subsequent proposal seeking 50 million ACX, worth $7.5 million, also passed with heavy insider wallet support, with Ogle noting that Chan’s wallets accounted for nearly half of the “yes” votes.
The pattern, Ogle claimed, indicates that the team proposed and passed grants to their private for-profit entity while maintaining a facade of community governance. He added that these contradict core DAO principles designed to protect against conflicts of interest by ensuring that those controlling a protocol cannot quietly benefit at the expense of the broader token holder community.
Ogle also disclosed he holds a long position in the ACX token and has previously transacted with the team. He stated that the alleged misuse of hidden votes to secure large token transfers to Risk Labs not only drains DAO resources but also creates future sell pressure for holders.
Lambur Responds: “We Did Nothing Wrong” Lambur, for one, refuted the allegations, calling them “completely untrue.” The exec clarified that Risk Labs is a nonprofit Cayman foundation, not a private for-profit entity, and operates under fiduciary responsibilities.
He also explained that the DAO proposals followed transparent processes with public discussions and a seven-day voting period that received no objections. Lambur stated that team members are allowed to buy ACX tokens with personal funds and vote in DAO proposals without disclosing all wallet addresses, while noting that addresses like “maxodds.eth” are publicly linked to Chan and were not used secretly.
The co-founder of Across Protocol denied claims that the team sold granted tokens early, pointing out that the Risk Labs multisig still holds more tokens than were granted, aligning with the stated vesting commitments.
Lambur acknowledged room for improvement in explicitly disclosing voting participation within proposals but rejected the notion that the DAO votes were manipulated, and stressed Across’s steady protocol growth and commitment to transparency. Lashing out at Ogle’s credibility and motives, he tweeted,
“Ogle is completely anonymous, although he was recently (and credibly) accused of insider trading on the Trump memecoin. I don’t know if that’s true or not, but this guy isn’t exactly the most credible actor in our space. Ogle: I doubt I’ll get an apology from you for your incredibly dishonest post. But I hope you think twice before accusing other good teams in the future.”
TL;DRAcross now supports up to 10M USDC bridging using Circle’s CCTP v2, enabling native, canonical USDC transfers across supported chains. Built for users and developers moving serious capital, with integration available via the Across Swap API.
IntroductionSize doesn’t matter… until it does.
When you move whale-sized amounts of crypto between chains, you need a bridge you can trust. Across now supports up to 10M USDC transfers, powered by CCTPv2.
Here’s what you need to know.
The Bridge Built for All SizesBridges shouldn’t discriminate against size.
You can now bridge up to 10M USDC in a single transfer with Across. This unlocks fast, cheap, and secure transfers for whales, treasuries, funds, market makers, and anyone moving serious capital across chains.
Keep in mind that these are truly canonical USDC transfers. No wrapped assets. No liquidity fragmentation. Your USDC burns on the source chain and mints natively on the destination chain.
Whether you are an everyday user or the equivalent of an onchain Moby Dick, you can move your money without compromising on speed, cost, or security.
How It WorksAcross integrates Circle’s Cross-Chain Transfer Protocol v2 (CCTPv2) to enable native USDC bridging to any CCTP-enabled chain that Across supports.
CCTPv2 uses a burn-and-mint model, where USDC is burned on the source chain and the same exact amount is minted natively on the destination chain. The result is a clean, capital-efficient, and secure way to move USDC across chains, now extended to $10M transfers on Across.
Here’s the coolest part: Across automatically handles transaction finalization. Unlike most CCTP-based bridges that require you to return and sign a second transaction to complete the transfer, Across runs a custom finalizer that monitors your transaction and completes it for you. Once you initiate the transfer, you’re done. No need to come back and click anything else.
Note: CCTP transfers include a small protocol fee set by Circle (1bp from Arbitrum, and low-range bps from other chains), which is transparently reflected in the transfer before you execute it.
Swap API For DevelopersThe upgrade isn’t just for end-users. If you’re a developer, we’ve got you covered too.
Building an app with native stablecoin transfers? If so, you’re only one integration away from bringing $10M-capacity USDC bridging directly to your users.
With our Swap API, you can plug into Across and provide crosschain functionality within your native UI. Across runs “under the hood,” abstracting away the complexity so you don’t have to manage burn-and-mint logic, edge cases, or fragmented liquidity yourself. Your users get fast, reliable USDC bridging directly inside your product, while you stay focused on what you’re building.
USDC at Internet ScaleUSDC has evolved into one of the most important pieces of onchain financial infrastructure.
Today, nearly $80 billion USDC is in circulation, making it one of the largest and most widely used digital dollars in the world. It is accessible on all the chains that people actually use, powering everything from trading and DeFi to payments and treasury operations.
As usage spreads across chains, the need to move large amounts of USDC reliably and natively becomes unavoidable.
Start Bridging USDCReady to bridge USDC? Move it where you need it, when you need it, with Across.
TL;DRYou can now bridge up to $10 million USDC directly to Hyperliquid in seconds with Across Protocol. Across is the first bridge that sends USDC straight into Hyperliquid. No Arbitrum detours, no manual deposit steps, and near-zero fees. Your USDC arrives ready to trade instantly on Hyperliquid. Currently, this route supports USDC-SPOT, with USDC-PERP coming soon.
IntroductionWe’ve raised the bar for Hyperliquid traders yet again.
You can now bridge up to $10M USDC straight into Hyperliquid with a single click from major chains. No more Arbitrum detours. Just a fast, clean, and direct flow. And today, Across is the only bridge where this is possible.
Whether you’re a whale or a casual trader on Hyperliquid, this post is for you.
The Problem: No Direct Path to HyperliquidBefore today, moving USDC into Hyperliquid was… complicated.
What should’ve been simple involved a bunch of steps. You had to route through Arbitrum first. Some bridges needed multiple signatures, and large transfers often slowed down or capped out well below what serious traders wanted to move.
The result? You ended up wasting time and money.
This changes now.
Across Protocol: Bridge USDC Directly to HyperliquidEnjoy the most direct path to your favorite trading platform. You can now bridge up to $10M USDC directly to Hyperliquid from any CCTP-enabled chain, including Ethereum, Arbitrum, and Base. And you can do it in seconds with near-zero fees.
Here’s the best part: when your USDC lands in Hyperliquid, you can start trading instantly. No extra deposit steps, no jumping between chains. Currently, this route supports USDC-SPOT, with USDC-PERP coming soon.
If you are a market maker, high-frequency trader, or someone moving large sizes of funds, you finally have a reliable and scalable bridge that matches the speed of Hyperliquid itself.
This is a fundamentally faster, cleaner, more scalable path for moving liquidity into Hyperliquid.
What’s New Under the HoodAcross now routes USDC into HyperCore using a streamlined path powered by the Across Swap API embedded with CCTPv2. Behind the scenes, your transfer is filled on HyperEVM, then passed directly into HyperCore, where your USDC becomes instantly usable on Hyperliquid.
All of this is wrapped behind a single bridging action.
Here’s what that means for you:
One-click bridging: bridge into HyperCore without touching Arbitrum.
Fast settlement: typically 8–20 seconds.
Low, predictable fees: 1bp from Arbitrum, and low-range bps from other chains.
Institutional-Grade Transfer Capacity: supports transfers up to $10 million, a threshold competing bridges can’t handle today.
You just send USDC in, get USDC on Hyperliquid, and start trading immediately.
Across routes USDC into HyperCore using a streamlined path powered by the Across Swap API embedded with Circle’s CCTPv2.How to Bridge USDC to HyperliquidHead to app.across.to.
Select your origin chain (Solana, Base, Ethereum, etc.) and USDC as your origin token.
Choose HyperCore as the destination and USDC as your destination token.
Enter the amount of USDC you want to bridge.
Bridge and confirm in your wallet.
Receive USDC on Hyperliquid in seconds!
There’s nothing new to learn. Just a dramatically better experience and path behind the scenes.
Start BridgingThe direct USDC to Hyperliquid bridge is live. Why take extra steps? Just use Across.
Across Protocol, a Paradigm-backed blockchain interoperability protocol, has posted a temperature check proposal exploring a transition from a decentralized autonomous organization and token structure to a U.S. C-corporation and equity structure.
Under the plan, a new entity called AcrossCo would become the operating company behind Across Protocol. ACX tokenholders would then have two options: equity exchange and token buyout. The equity exchange option involves exchanging ACX for equity in AcrossCo. Larger holders would exchange directly, while smaller holders could participate through a no-fee special purpose vehicle structure. The token buyout option would allow holders to redeem ACX for USDC at $0.04375, a 25% premium to the one-month average market rate, with a six-month window to decide.
Across said becoming a private company, with tokenholders offered equity or a “fair” exit, would likely better serve the protocol’s long-term growth. The team said the underlying protocol would continue operating without interruption. AcrossCo would hold the intellectual property and manage development, partnerships, and commercialization, while the infrastructure itself would remain open and permissionless.
"I believe this proposal lets us double down on our future while benefiting all existing tokenholders," said Hart Lambur, Co-founder of Across Protocol.
The current DAO structure Currently, Risk Labs Foundation, the team behind Across Protocol, as well as UMA Protocol, a decentralized oracle, manages the Across protocol. The foundation has been building Across for over four years and says the protocol has processed more than $35 billion in volume and co-created the ERC-7683 cross-chain intents standard. Across Protocol is an intents-based interoperability protocol that connects blockchains such as Ethereum and Solana, allowing users to bridge and swap tokens across networks.
Across Protocol has raised a total of $51 million through two token funding rounds. Its most recent $41 million round last year was led by Paradigm, with participation from Bain Capital Crypto, Coinbase Ventures, and Multicoin Capital.
The team said the transition to a C-corporation and equity structure is being explored as demand for the protocol’s infrastructure grows, particularly from institutional partners. Across said the current DAO structure can create limitations when working with enterprise partners, which often require enforceable contracts and a clear legal counterparty.
"As institutional demand for Across infrastructure has grown, the current DAO structure has become a bottleneck," the team said. "Enterprise partners need enforceable contracts. Revenue agreements need a legal counterparty. The kinds of deals that would drive the next phase of growth require a structure that a DAO, today, simply can't provide."
If community sentiment is positive, the team will then move to posting a formal governance proposal two weeks after the temperature check, Lambur told The Block.
A majority vote would determine the outcome, Lambur added. For example, if 20% of voters abstained and the result was 41% in favor and 39% against, the proposal would still pass, he said.
"The community decides whether any of it happens," Across said. "Nothing moves forward without community approval."
The ACX token was trading at around $0.035 at the time of writing, up nearly 4% over the past 24 hours but down about 84% over the past year, according to The Block’s ACX price page.
Updated to include the proposal link and pricing details.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Across Protocol is considering a C‑Corp pivot that lets ACX holders swap tokens for equity in AcrossCo or USDC, testing whether token-era DAOs migrate to traditional cap tables.
Summary
Across proposes creating U.S. C‑Corp AcrossCo, offering ACX holders a six‑month window to swap tokens 1:1 for equity or redeem for USDC at a 30‑day average price. The structure channels larger wallets directly into AcrossCo and smaller ones through a free SPV, aiming to meet U.S. cap‑table and accreditation rules without abandoning decentralization entirely. Backed by 51 million dollars in prior raises and a heavily drawdown token, the move could become a template for DeFi bridges seeking real contracts, clearer cash flows, and institutional capital. Cross-chain bridge Across Protocol is exploring a radical restructuring that would let ACX token holders swap their tokens for equity in a new U.S. C‑Corp, AcrossCo, or redeem for stablecoins, marking one of the clearest tests yet of how DeFi projects adapt to regulatory and institutional pressure. The team has launched a “temperature check” proposal to gauge community appetite before moving to a formal on‑chain vote.
Under the plan, AcrossCo would become the core operating company for the protocol, while ACX holders gain two main options over a six‑month window: exchange ACX 1:1 for equity in AcrossCo, or cash out by redeeming ACX for USDC at the token’s average market price over a month. Larger holders would be able to convert directly into equity, whereas smaller holders would route through a free special purpose entity to pool and manage their stake. The structure is designed to satisfy regulatory requirements around cap tables and accredited investors while still preserving an on‑ramp for the long tail of tokenholders.
Co‑founder Hart Lambur said that if feedback is supportive, the team will initiate a formal governance vote two weeks after the temperature check ends, with a simple majority deciding the outcome. Across has framed the move as a response to the practical limits of the current DAO structure, pointing to issues around enforceable contracts, counterparty risk, and the absence of a clear legal wrapper as institutional demand for bridging and liquidity infrastructure grows. In other words, the protocol wants to look and behave more like a traditional software company to the outside world, even if parts of the stack remain decentralized under the hood.
Capital backing is already in place. Across has raised a total of 51 million dollars across two token rounds, including a 41 million dollar raise led by Paradigm with Bain Capital Crypto, Coinbase Ventures, and Multicoin Capital participating. ACX currently trades near 0.035 dollars, up roughly 4% over the past 24 hours but down about 84% over the past year, underscoring the pressure on token‑only models in a market that increasingly rewards clear cash‑flow rights and legal protections.
If approved, Across’s restructuring could become a template for late‑cycle DeFi projects seeking to square token‑based governance with real‑world compliance and institutional onboarding. It would also sharpen the debate over whether DAO tokens are long‑term ownership instruments or transitional mechanisms on the way to more conventional equity structures, especially for infrastructure servicing exchanges, trading firms, and custodians. For now, the critical question is whether ACX holders value legal clarity and equity upside more than the ideological purity of remaining fully token‑native.
The price of Across Protocol token surged sharply after a governance proposal suggested a major structural shift for the project.
Summary
Across Protocol token jumped 85% as a proposal suggests converting tokens into company shares. Holders could exchange ACX for equity in a new US C-corp or sell tokens for USDC in a buyout offer. The move is meant to help the protocol secure institutional partnerships and commercial agreements. ACX saw a sharp surge in activity, trading at about $0.063 at the time of writing. The token gained roughly 85% over the previous 24 hours, lifting its market capitalization to nearly $45 million.
Market participation also spiked. Daily trading volume climbed to approximately $51.7 million, representing an increase of more than 3,000% compared with the day before.
A similar trend appeared in the derivatives market. CoinGlass data show that derivatives trading volume expanded dramatically, rising over 7,700% to $138 million. Meanwhile, open interest jumped by around 950%, reaching $20 million, pointing to a wave of new positions entering the market.
The sudden rally followed a proposal submitted on March 11 to the Across governance forum by Risk Labs, the core development group responsible for Across Protocol.
Proposal explores token-to-equity transition The proposal, titled “The Bridge Across,” asks the community whether the protocol should transition from a token-based structure into a U.S. C-corporation.
If approved, a newly formed entity tentatively called AcrossCo would take over development, partnerships, and commercialization. The company would also hold the protocol’s intellectual property.
Proposal: “The Bridge Across”
A temp-check exploring whether Across should evolve from a DAO + token structure into a U.S. C‑corp. via a token-to-equity exchange and token buyout.
Thread and proposal below ⤵️ pic.twitter.com/AtE9DHGxS4
— Across (@AcrossProtocol) March 11, 2026 The proposal gives ACX holders two possible paths. They can either swap their tokens for equity in the newly formed company or sell their holdings through a buyout offer.
For those choosing the equity route, the plan outlines a 1:1 conversion, meaning each ACX token would be exchanged for one company share. Holders with more than 5 million ACX would be able to convert their tokens directly into equity. Smaller holders, however, would gain exposure through a special purpose vehicle designed to pool their participation.
Token holders who would rather exit could instead accept a buyout offer set at $0.04375 per ACX, with payment made in USD Coin. That price represents roughly a 25% premium to the token’s average trading price over the past 30 days.
The buyout window would remain open for six months if the proposal ultimately passes. Funding for the offer would come from the protocol’s liquid treasury.
Institutional partnerships driving the proposal According to the proposal, the shift toward a traditional corporate structure is meant to address practical challenges faced by decentralized autonomous organizations.
DAO-based governance can make it difficult to sign enforceable contracts, establish liability frameworks, or negotiate certain types of commercial agreements. These limitations sometimes create barriers when dealing with institutional partners.
Risk Labs said the change could make it easier for the project to secure partnerships and revenue agreements while continuing to build the protocol’s infrastructure.
The proposal is currently a temperature check, meaning it is meant to gather community feedback before any binding vote takes place.
The timeline outlined in the document suggests a governance vote could occur in early April. If approved, legal structuring and token conversion infrastructure would begin shortly afterward.
Across Protocol has spent several years building cross-chain bridging infrastructure, including fast transaction systems designed to move assets between blockchains in seconds.
Risk Labs wants to convert Across into a private company, offering ACX holders the option to swap tokens for equity or sell into a buyout.
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Risk Labs, the centralized development company behind UMA's optimistic oracles and Across's bridging protocol, wants the Across DAO to transition into a private company via an ACX token-to-equity exchange and buyout offer.
What's the Scoop?New Proposal: "The Bridge Across," a governance forum proposal submitted by Risk Labs to Across DAO this morning, is seeking community approval to transition Across from a token structured DAO into a traditional private company, a move it claims will better serve long-term growth.Equity Conversion Pathway: If supported, "The Bridge Across" would transition all Across IP into a U.S.-registered operating entity (AcrossCo), which will be responsible for managing development, partnerships, and commercialization. As many investors as legally permissible will be able to convert ACX tokens into newco equity exposure (as per relevant law, the conversion offer will be limited to ~100 accredited U.S. investors and ~500 international investors).Buyout Alternative: Holders who choose to not participate in the token-to-equity exchange will be afforded the opportunity to sell ACX for USDC at price of $0.04375, a 25% premium to token's 30-day average trading price prior to the publication of "The Bridge Across."Hidden Value: According to Risk Labs's proposal, the ACX token was "significantly undervalued" at its prior valuation. The market appears to agree; ACX more than doubled following the publication of "The Bridge Across," surging to highs above $0.07 per token.Proposal: “The Bridge Across”
A temp-check exploring whether Across should evolve from a DAO + token structure into a U.S. C‑corp. via a token-to-equity exchange and token buyout.
Thread and proposal below ⤵️ pic.twitter.com/AtE9DHGxS4
— Across (@AcrossProtocol) March 11, 2026
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Written by Jack Inabinet
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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
Risk Labs, the team behind cross-chain bridging protocol Across, is proposing to dissolve the project's token-based DAO structure and transition its operations to a newly formed U.S. C-corporation.
“Across has moved billions and billions of assets between chains, and we have helped unify Ethereum and all its chains. I’m proud of what we’ve built, and I believe this proposal lets us double down on our future while benefiting all existing tokenholders,” co-founder Hart Lambur wrote on X.
Under the plan, ACX token holders would be given two options: exchange their tokens for equity in the new company at a 1:1 ratio, or sell their tokens for USDC at $0.04375 — a 25% premium over the trailing 30-day average price.
ACX surged 70% on the news to $0.06, or a $60 million valuation. However, the token is still down 96% from its all-time high of $1.69 in December 2024, according to Coingecko.
ACX Market CapHolders with more than 5 million ACX will be able to convert directly to equity, while smaller holders can participate through a no-fee special purpose vehicle (SPV) structure.
Risk Labs framed the move as a response to friction the team has encountered while working with institutional and enterprise partners. The current token and DAO structure, the team said, has materially impacted its ability to close partnerships. A traditional corporate entity, they argue, would unlock new commercial opportunities and enable entry into enforceable contracts.
The protocol's liquid assets, roughly equivalent to its current market cap, would be used to finance the buyout, with a six-month redemption window expected to open within three months of the proposal passing.
“This proposal is a temperature check, and nothing will be decided without dialogue and a formal DAO vote,” Lambur added.
Across raised $41 million last year from prominent investors, including Paradigm, Bain Capital Crypto, Coinbase Ventures, and Multicoin Capital.
Looking ahead, Lambur said Across plans to focus on stablecoin bridging and agentic payments, teasing “two more yet-to-be-announced deals that make moving money free for users.”
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Across Protocol [ACX] has surged nearly 96% within 24 hours as trading volume skyrocketed over 8,200%, igniting intense market activity across spot markets.
The sudden expansion reflects aggressive capital entering the market after weeks of subdued trading activity.
Market capitalization has climbed toward $45.17M as liquidity floods into the token. This surge has occurred while speculative activity rapidly expands across derivatives markets.
Such conditions usually accompany sharp volatility expansions. However, price behavior now approaches key structural levels that could determine whether the rally stabilizes or rapidly cools.
The latest surge has therefore placed ACX under scrutiny, as traders evaluate whether this breakout phase can sustain its current trajectory.
Can ACX escape months of consolidation? ACX has rebounded sharply from a prolonged consolidation structure that has defined price action for several months.
The daily chart shows price compressing inside a broad horizontal range between $0.0325 and $0.0900. Buyers have recently pushed the token away from the lower boundary near $0.0325, triggering a powerful recovery wave.
This move has lifted the price toward the mid-range region around $0.059, which now acts as an important reaction zone. However, the broader structure still contains two major overhead barriers.
The first resistance sits near $0.090, while the upper range ceiling appears around $0.1215. These zones previously triggered multiple rejections.
As a result, ACX now tests the internal range structure where strong supply historically emerges.
Technical indicators currently highlight unusually strong buying pressure following the rapid price expansion. The RSI has surged to 81, pushing firmly into overbought territory on the daily timeframe.
Such readings usually emerge during explosive rallies after extended compression phases. The indicator had previously fluctuated around the neutral 40–50 region during the multi-month consolidation period.
However, the sudden spike signals that buyers have aggressively entered the market within a very short time window.
Source: TradingView Derivatives traders flood ACX leveraged markets Derivatives markets have experienced an extraordinary expansion in participation during the rally. Open Interest has surged 1,294.07%, reaching $27.21M, indicating that leveraged traders have rapidly entered the market.
Such an aggressive rise in Open Interest signals that fresh capital continues flowing into speculative positions.
Importantly, the increase has occurred while price accelerates upward, which typically reflects growing conviction among derivatives participants.
Traders frequently deploy leverage during sharp rallies as they attempt to capture rapid price movements.
However, expanding Open Interest also introduces higher volatility risk because large leveraged positions amplify liquidation dynamics.
Rapid shifts in sentiment can therefore trigger sharp swings in either direction.
Source: CoinGlass Liquidation clusters hint at volatility traps The liquidation heatmap reveals concentrated leverage clusters forming across several nearby price levels.
The chart highlights dense liquidation bands around $0.066–$0.068, where cumulative leverage approaches 231.75K in potential forced liquidations.
These zones represent areas where heavily leveraged traders could face forced exits if price moves through those levels.
Markets frequently gravitate toward such liquidity concentrations during volatile phases. Price spikes often trigger cascading liquidations as positions unwind rapidly.
This dynamic can amplify short-term price movements during both rallies and corrections. The heatmap therefore highlights how liquidity distribution may influence near-term trading behavior.
If price pushes toward these clusters, liquidation cascades could intensify volatility across ACX markets as leveraged traders scramble to adjust their positions.
Source: CoinGlass To sum up, ACX now trades inside a critical phase where explosive growth in volume and derivatives activity drives elevated volatility.
Price has rebounded strongly from its lower range boundary. However, resistance levels near $0.090 and $0.1215 still dominate the broader structure.
ACX may sustain upward pressure if buyers maintain control near current levels. However, aggressive speculation also increases the likelihood of sharp volatility swings during the next phase.
Final Summary ACX now attracts aggressive speculation as volatility expands rapidly across derivatives and spot markets simultaneously. If buying pressure stabilizes near current levels, ACX could continue exploring higher liquidity zones above.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
5 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
5 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
5 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
5 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
5 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
