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CACEIS Brings Institutional Euro Stablecoin to EthereumCrédit Agricole, Europe's third-largest bank by assets, has launched the EURO eXchange Token (EURXT), a euro-backed stablecoin issued through its asset-servicing arm, Crédit Agricole Caisse d'Epargne Investor Services (CACEIS). The token is designed for institutional and corporate clients as part of the group's broader push into tokenized financial infrastructure.

Compliant with the EU's Markets in Crypto-Assets (MiCA) regulatory guidelines, EURXT launched with an initial circulating supply of 20.02 million tokens on Ethereum using the ERC-20 standard, backed 1:1 by euro-denominated cash held on CACEIS Bank's balance sheet. According to the project's white paper, there is no hard cap on EURXT issuance, meaning the supply can expand based on demand through its smart contract system.

One notable feature is that this is a bank-issued EMT, where the CACEIS balance sheet backs the token, with plans to segregate reserves internally, including CACEIS cash and up to 70% in highly liquid securities. The minimum subscription amount is set at €10,000, keeping the product firmly within institutional territory for now. The token will initially be made available to institutional and corporate clients of CACEIS, though the project's website indicates plans to support retail investors in the future.

First Use Case and Broader Market ContextAlongside the EURXT launch, Crédit Agricole announced the first subscription via EURXT into a tokenised Amundi money market fund, described as a European first. The token forms part of the group's ACT 2028 strategy, which includes the development of blockchain-based settlement and asset servicing tools.

The launch comes a year after CACEIS secured a MiCA crypto-asset service provider (CASP) license from French regulators in June 2025. The launch of EURXT adds to a wave of fresh stablecoin launches both in Europe and globally as traditional finance and crypto-native companies compete to issue regulated digital euros and dollars. HSBC and BNP Paribas, Europe's top two banks by assets, last September joined the Canton Foundation to accelerate tokenization of institutional real-world assets, while a separate consortium of major European lenders including ING, UniCredit, and BNP Paribas is also preparing a competing MiCA-compliant euro stablecoin under the Qivalis venture.

For Crédit Agricole, the EURXT debut represents a concrete step beyond regulatory preparation. With a fully operational EMT on a public blockchain, the bank is positioning CACEIS as a gateway for institutional capital flows into tokenized markets under Europe's mature MiCA framework.

Sources
Cointelegraph: Crédit Agricole Launches EURXT Stablecoin On Ethereum
Ledger Insights: Crédit Agricole launches euro stablecoin via CACEIS
CACEIS Official Announcement

TL;DR Ethereum’s staking rate has climbed above 33% for the first time, setting a new all-time high. Around 33.06% of the total ETH supply is now locked in staking, reducing the liquid supply in circulation. A newly created wallet withdrew 9,876 ETH worth $15.4 million from Binance and staked the entire amount. Ethereum price continues to hold above the $1,550 support level, while $1,700 remains a key resistance to watch. Ethereum staking participation has reached a new milestone, with the network’s staking rate climbing above 33% for the first time since the Merge upgrade. According to CryptoQuant data, approximately 33.06% of the total ETH supply is now locked in staking, marking a new all-time high even as the Ethereum price remains near $1,500.

The latest figures highlight a growing divergence between investor behavior and market performance. While Ethereum’s price has moved through several periods of volatility, staking participation has continued to rise steadily, suggesting that many long-term holders are choosing to lock up their ETH rather than sell during the current market downturn.

Adding to the trend, blockchain analytics platform Lookonchain reported that a newly created wallet withdrew 9,876 ETH, valued at approximately $15.4 million, from Binance before staking the entire amount.

Ethereum Staking Reaches Record High as Investors Lock Up More ETH CryptoQuant’s data shows Ethereum’s staking rate has maintained a consistent upward trajectory since the network transitioned to Proof-of-Stake. The latest increase to 33.06% means that roughly one-third of the total ETH supply is now committed to staking, reducing the amount of Ether available in circulation.

ETH Staking Data | Source: CryptoQuant The continued growth in staking participation suggests that investors remain committed to Ethereum’s long-term outlook despite ongoing market uncertainty. Instead of moving assets to exchanges for potential selling, more holders are choosing to secure the network while earning staking rewards.

Although a rising staking rate does not guarantee an immediate increase in Ethereum price, it does reduce the liquid supply of ETH. If market demand strengthens in the future, a smaller circulating supply could support stronger price movements.

Ethereum Price Holds Key Support but Faces Resistance Ahead While staking continues to set new records, Ethereum price remains under pressure. At the time of the accompanying data, ETH was trading near $1,571, while the CryptoQuant chart showed the asset around the $1,500 level as staking reached its highest level on record.

Technical charts by analysts indicate that Ethereum has so far managed to hold above the $1,550 support area, even as Bitcoin fell to a new yearly low. According to the analyst’s view provided with the chart, Ethereum has displayed relative strength compared with Bitcoin during the recent market decline.

1-day ETH/USDT Chart | Source: X However, the analysis also notes that ETH is not yet out of danger. The chart identifies $1,700 as a key resistance level, indicating that Ethereum would need to reclaim that area before the risk of another move lower begins to ease.

For now, the data points to a market where long-term participation continues to strengthen despite short-term price weakness. With staking at a record high and more ETH being removed from the liquid supply, investor conviction appears to remain intact even as Ethereum price continues to trade below key resistance levels.

US-listed Bitcoin (BTC) exchange-traded funds (ETFs) recorded $4.5 billion in net outflows during June 2026. This was the worst monthly figure since the products launched in January 2024.

The redemptions coincided with a sharp price decline. Bitcoin fell 20.48% over the month, its steepest monthly drop since June 2022, when the asset shed 37.28% during that cycle’s collapse.

IBIT Leads the Institutional RetreatJune’s outflows broke the previous monthly record of $3.56 billion, set in February 2025 during an earlier stretch of market stress.

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Bitcoin ETF Monthly Flows. Source: SoSoValueBlackRock’s iShares Bitcoin Trust (IBIT) accounted for the bulk of the outflows. The fund alone shed $3.55 billion, close to 79% of the category’s total redemptions.

That concentration is striking. IBIT’s single-fund outflow nearly matched the entire category’s prior monthly record on its own.

The price data reinforces the pressure. Bitcoin closed four of 2026’s first six months in negative territory, with June’s 20.48% decline the deepest of the year.

How Crypto ETFs Performed in June 2026The weakness extended beyond Bitcoin, though the scale varied across categories. Ethereum (ETH) ETFs posted $528.99 million in June outflows, SoSoValue data showed.

Solana (SOL) ETFs recorded net outflows of roughly $786,580. The figure is small, but it marks the first monthly outflow for Solana ETFs since their launch, ending a run of positive months.

Top Crypto ETFs Performance in June. Source: BeInCryptoNot every category turned negative. XRP (XRP) ETFs drew $59.46 million in net inflows during June, holding positive despite the broader downturn.

Hyperliquid (HYPE) ETFs led the group with $161.05 million in inflows, the strongest June showing across the products.

The split suggests capital rotated within crypto rather than exiting entirely. Newer altcoin products absorbed fresh money even as the two largest categories saw sustained redemptions.

Whether that rotation hardens will depend on how Bitcoin trades in July, since a price rebound could pull capital back toward the incumbents.

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SharpLink has expanded its Ethereum treasury with another 10,000 ETH purchase even as the cryptocurrency has remained on course for its third consecutive quarterly decline.

Summary

SharpLink bought another 10,000 ETH for $16.1 million, increasing its Ethereum holdings to 886,725 ETH. Ethereum is on track for its first-ever third consecutive quarterly loss despite continued treasury accumulation. Bitmine now holds more than 5.7 million ETH, adding to institutional buying as analysts watch the $1,500 support level. According to a company press release, SharpLink acquired the latest 10,000 ETH at an average price of $1,611 per token, spending approximately $16.1 million on the purchase.

The transaction increases the company’s total Ethereum holdings to 886,725 ETH and follows a $75 million capital raise completed through a registered stock offering.

SharpLink continues building its Ethereum treasury Alongside the latest crypto purchase, SharpLink stepped up its capital management efforts by repurchasing more than 2.13 million shares of its common stock, SBET, at an average price of $4.69 per share.

The company said it has now bought back over 4.07 million shares since August 2025. Despite those moves, SBET shares were trading around $4.72 at the time of writing, down nearly 4% on the day.

Source: Yahoo Finance Recent corporate developments have also added to the company’s profile. Earlier this week, SharpLink joined the Russell 2000 and Russell 3000 indexes, extending its presence in major U.S. equity benchmarks while continuing to increase its Ethereum reserves.

SharpLink is not the only listed company expanding its exposure to Ethereum. As crypto.news reported on Monday, Ethereum treasury firm Bitmine purchased another 27,084 ETH during the past week, lifting its holdings to more than 5.7 million ETH.

Based on the company’s figures, those reserves now account for about 4.7% of Ethereum’s estimated circulating supply of 120.7 million ETH, bringing Bitmine closer to its previously stated target of holding 5% of the network’s supply.

Earlier this month, crypto.news also examined the implications of treasury companies accumulating increasingly large portions of Ethereum. The report noted that sustained buying could reduce the amount of ETH available for trading, although concentrated ownership may create additional risks if companies later need to fund operations through debt, equity issuance, or asset sales during weaker market conditions.

Ethereum remains under pressure despite corporate buying Even as treasury companies continue adding to their holdings, Ethereum (ETH) has struggled to regain upward momentum. At the time of writing, ETH traded near $1,560, down about 1% on the day and roughly 25% for the quarter.

Ethereum price chart — June 30 | Source: crypto.news Current market performance also places Ethereum on track to record its third straight quarterly loss, a result that would be the first such streak in the asset’s history if the quarter closes at current levels.

Some analysts nevertheless see the recent weakness as a key technical test rather than a definitive breakdown. According to crypto analyst Ted Pillows, Ethereum could stage a relief rally next month if it manages to hold support around $1,500.

The analyst’s chart also outlined the downside risk if that level fails. Under that scenario, Ted Pillows said Ethereum could fall toward $1,400 or lower, underscoring that price direction in the coming weeks may depend on whether buyers continue defending the current support zone despite ongoing accumulation by treasury firms.

Ethereum price today: $1,580BitMine acquired 27,084 ETH last week following its inclusion in the Russell 1000 index.ETH ETFs recorded a seventh straight week of outflows and their largest weekly negative flow since January.ETH briefly recovers to $1,600 but faces key descending trendline resistance.Ethereum (ETH) treasury firm BitMine Immersion slowed the pace of its accumulation of the top altcoin following increased weakness across the crypto market.

The Las Vegas-based firm purchased 27,084 ETH last week, increasing its total holdings to 5.7 million ETH worth $9.22 billion at the time of writing. Last week's purchase represents its fourth-lowest so far this year.

BitMine also increased its staked assets by 160,480 ETH during the period. Its total staked ETH is now at 4.879 million ETH, earning annualized staking revenue of $211 million.

The move comes as ETH continues to experience strong risk-off sentiment across the board. Last week, US spot Ethereum exchange-traded funds (ETFs) recorded a seventh consecutive week of net outflows and their largest negative flow since January worth $273.3 million, per SoSoValue data. The products are currently in their longest weekly outflow streak.

"This past week was a challenging one for crypto investors as ETH fell by 8%, even as Ethereum witnessed notable positive developments such as the creation of Ethlabs, and even the Bank of England softened its stance around stablecoins," said BitMine Chairman Thomas Lee in a Monday statement. "We are nearing quarter-end for June, and it is not surprising to see ‘window dressing’ leading to investors reducing their holdings in assets which have fallen in the past 3 months."

Meanwhile, BitMine was added to the Russell 1000 Large Cap index last week following the index's annual reconstitution. The company claims the Investment Company Institute (ICI) estimates that 20% of a company's shares are held in passive funds and ETFs.

“Being added to the Russell 1000 is expected to add hundreds and possibly thousands of additional institutional investors as equity owners of BitMine,” added Lee.

Last week, BitMine, together with ETH treasury SharpLink, also announced that it will fund the recently launched Ethereum research and development non-profit Ethlabs.

BitMine shares closed trading with a 1.77% gain on Monday, but remained below its net asset value.

Ethereum Price Forecast: ETH struggles at descending trendline resistanceOn the daily chart, ETH is extending its bearish bias, with price remaining well below the 20-, 50- and 100-day Exponential Moving Averages (EMAs), clustered between roughly $1,670 and $2,004.

The top altcoin remains trapped beneath the descending resistance trendline, with the break level near $1,626, while momentum indicators stay soft: the Relative Strength Index (RSI) at 35 and the Stochastic at 26 both hint at lingering downside pressure, with only modest signs of stabilization.

On the topside, initial resistance is seen at the trendline break area around $1,626, followed by the 20-day EMA at $1,670 and the horizontal barrier at $1,741. A sustained recovery above $1,806 and the 50-day EMA at $1,826 would be needed to ease the current bearish tone, with further hurdles at $1,909 and the 100-day EMA at $2,004.

ETH/USDT daily chartOn the downside, immediate support is near $1,524, ahead of a deeper floor at $1,404, while a break below $1,155 would expose a more pronounced medium-term bearish extension.

(The technical analysis of this story was written with the help of an AI tool.)

According to monitoring by Onchain Lens, the Ethereum Foundation has staked 4,938 ETH (valued at $7.86 million) via Lido, and may stake more.

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Bitmine Immersion Technologies (NYSE: $BMNR), chaired by @fundstrat's Tom Lee, has expanded its sovereign Ethereum reserve to 5,700,040 $ETH, placing the firm in control of 4.7% of the total circulating supply of 120.7 million tokens, according to a filing with the SEC.

World's Largest Corporate ETH TreasuryThe company's combined crypto, cash, and marketable securities holdings stand at $9.8 billion, cementing its position as the world's largest corporate Ethereum treasury. Bitmine's crypto holdings rank as the number one Ethereum treasury and number two global crypto treasury, behind Strategy Inc. (NASDAQ: MSTR). The firm has set an explicit target it calls the "alchemy of 5%," aiming to hold 5% of all circulating $ETH sometime in 2026. As of its latest disclosure, Bitmine is 94% of the way to that goal in just 11 months.

A significant portion of those holdings is already put to work. The company has 4,879,157 ETH staked, representing $7.7 billion at $1,569 per ETH, through its MAVAN (Made in America VAlidator Network) platform. Annualized staking revenues are projected at around $230 million.

Russell 1000 Inclusion and $BMNP Preferred Stock Bitmine was added to the Russell 1000 Index, with the inclusion becoming effective following the 2026 Russell U.S. Index reconstitution. The Russell 1000 is one of the main U.S. large-cap equity benchmarks, and inclusion typically brings fresh demand from funds that track it, increasing liquidity in the stock.

The company has also bolstered its balance sheet through the capital markets. On June 10, Bitmine closed an offering of 3,500,000 shares of its 9.50% Series A Perpetual Preferred Stock at $80.00 per share, receiving net proceeds of approximately $273.8 million after underwriting discounts and expenses. The Series A Preferred Stock trades on the NYSE under the symbol $BMNP, with dividends scheduled to be paid weekly. The company intends to use the proceeds to buy more Ethereum and other digital assets and scale its MAVAN staking and validator infrastructure.

On the broader strategic outlook, Lee has pointed to tokenization and artificial intelligence as key demand drivers for Ethereum. "The best years for crypto remain ahead, in our view. Tokenization and the rapid progress in AI are expected to drive exponential demand growth for blockchain and decentralized crypto," Lee stated.

Sources:
Bitmine SEC Form 8-K Filing, June 2026
Bitmine Press Release via PR Newswire, June 22, 2026
BitMine, Upexi Secure Russell Index Inclusion, The Crypto Times

In brief BitMine added another $43 million in Ethereum to its balance sheet last week, despite falling prices. The firm now holds more than 5.7 million ETH valued around $9 billion. As BitMine continued its consistent purchases, top Bitcoin treasury firm Strategy did not add to its holdings last week. Leading Ethereum treasury firm BitMine Immersion Technologies stayed consistent in the face of declining crypto prices last week, adding nearly $43 million in ETH to its stash even while top Bitcoin treasury company Strategy opted against accumulating BTC. 

The firm now holds more than 5.7 million ETH, valued around $9 billion. It also holds around 206 Bitcoin, worth $12.3 million. 

“This past week was a challenging one for crypto investors as ETH fell by 8%, even as Ethereum witnessed notable positive developments such as the creation of Ethlabs, and even the Bank of England softened its stance around stablecoins,” said BitMine Chairman Tom Lee in a statement. (Disclaimer: Lee is an investor in Decrypt parent company, Dastan).

Ethlabs, a new nonprofit research and development lab dedicated to championing the future of the Ethereum network and its native asset, is financially backed by BitMine and competing treasury firm Sharplink. 

Lee maintained that crypto's future looks bright, and said the firm “remains focused on the longer-term horizon,” highlighting tailwinds like agentic payments and institutional adoption of crypto rails. 

“We are nearing quarter-end for June, and it is not surprising to see 'window dressing' leading to investors reducing their holdings in assets which have fallen in the past three months,” he said. 

The firm’s primary treasury asset, ETH, has now fallen 22% in the last month of trading, recently trading hands at $1,567. At that mark, ETH is now 68% off its all-time high of $4,946. 

Bitcoin has performed marginally better, dipping 19% in the last month of trading and more than 52% from its all-time high of $126,080, changing hands on Monday at $59,324.

As its primary treasury vehicle slides, so too have shares in BitMine (BMNR). The firm’s stock has fallen nearly 17% in the last five trading days and more than 31% in the last month of trading, recently trading at $13.21—down about 2.6% so far Monday.

Shares are now down more than 91% from a 52-week high of $161 established shortly after the firm adopted its Ethereum treasury strategy last June. 

That crypto-amassing model was pioneered by Bitcoin giant Strategy and its co-founder and Executive Chairman Michael Saylor, who started aggressively accumulating BTC in 2020. While the firm had aggressively and consistently added BTC on a nearly weekly basis in recent years, it did not add to its holdings last week amid scrutiny of its preferred equity offering, STRC, which fell to new lows on Friday.

Instead, the firm approved plans to sell up to $1.25 billion worth of Bitcoin to build up its cash reserves to fuel dividend payments.

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Sharplink, the second-largest Ethereum [ETH] treasury company, purchased an additional 29,196 ETH for $46.7 million on the 27th of June. In fact, Lookonchain reported that the Ethereum DATs amassed 39,196 ETH, worth $62.4 million, over the last three days. 

Source: Lookonchain/X This marks Sharplink’s second purchase after an eight‑month pause. The first occurred when the firm added 5,000 ETH through FalconX, worth about $7.88 million at an average price of $1,576. With these acquisitions, Sharplink now holds 868,699 ETH in total, including 22,102 staked tokens. Meanwhile, its stock closed at $4.81, up 5.48% from the prior trading day. 

Sharplink vs. Bitmine Meanwhile, on the 22nd of June, Bitmine, the biggest Ethereum DAT, paid $92 million to acquire an additional 52,203 Ethereum. As of right now, Bitmine has 5,672,956 ETH worth $8.92 billion.  

Bitmine’s Tom Lee also stressed that his firm plans to continue growing steadily through 2026 and ultimately accomplish the “alchemy of 5%.” Although Sharplink has not yet disclosed such plans, the ETH accumulation strategy has been relatively comparable. 

Ethereum’s market dynamics paint a concerning picture All this happened as ETH was trading at $1,568.75, the lowest level since April 2025. Meanwhile, Ethereum’s Spot Taker CVD has lost some of its aggressive buying momentum, which is a major shift compared to June 2025.

Although buyers are still present in the market, their influence has waned. Unlike the strong accumulation phase seen a year ago, the current demand indicates buyer exhaustion.

Source: CryptoQuant Final Summary Sharplink added more ETH in the past three days, pushing its total ETH holding to 868,699 ETH in total. Sharplink’s stock price also jumped after the ETH accumulation, but ETH’s price was changing hands around the $1500 price level. 

Institutional appetite for Ethereum [ETH] continues to weaken as investors reduce exposure to risk assets amid uncertain market conditions. U.S. spot ETH ETFs recently recorded another $12.85 million in net outflows, extending a broader slowdown in fund demand despite cumulative net inflows remaining near $11 billion.

With this reduction, there will be less institutional capital available to buy Ethereum to help stabilize prices as they continue to decline.

Source: SoSoValue As such, Ethereum now relies more heavily on staking demand, layer-2 activity, and natural organic spot buying to help stabilize prices. If Ethereum network demand increases, then it is possible that the markets can begin to absorb some excess supply.

However, if institutional demand does not increase, then we should expect longer-term consolidation and increased vulnerability to sentiment-driven price movements.

ETH bears retain control despite buying pressure Institutional demand has already weakened, and derivatives activity now suggests bearish conviction is strengthening. Market structure may be decisively bearish unless spot flows and leverage flows simultaneously turn positive again.

Meanwhile, the fund price has declined steadily from its April peak to 12.59. This dynamic reflects a fading appetite for leveraged long positions. Moreover, this divergence shows that buyers, though appearing more aggressive, are becoming less effective, leaving bears firmly in control of short‑term price action. 

Source: Arkham Although moving assets to this new address does not necessarily indicate that the person behind the transaction is planning to sell their asset. Yet, previous instances of like-sized on-chain asset movements have occurred before liquidity events, making subsequent wallet activity the key signal to monitor.

If the funds remain in self-custody, the transfer will likely reflect routine wallet management. However, deposits to exchanges or OTC counterparties could reinforce existing bearish sentiment and increase expectations of additional selling pressure.

Final Summary Ethereum remained vulnerable as weakening institutional demand and bearish market structure continue limiting recovery momentum. ETH needs stronger spot demand to offset selling pressure and restore sustained bullish momentum.

Blockchain intelligence firm AMLBot has confirmed the Polymarket supply-chain attack total at approximately $3.1 million in PUSD across 11 user wallets, with funds bridged from Polygon to Ethereum and converted to ETH. Polymarket has pledged full refunds but has not named the compromised vendor.

Blockchain intelligence firm AMLBot has fixed the total stolen in Thursday's Polymarket supply-chain attack at approximately $3.1 million in PUSD, providing the first forensically confirmed on-chain dollar figure and tracing the stolen assets from Polygon to Ethereum. On-chain investigator Specter, which published the first public alert, identified more than 11 victim wallets.

AMLBot posted the revised tally on Saturday, two days after on-chain investigators first flagged the drain. The figure revises earlier estimates upward and, for the first time, pins both the dollar amount to a single on-chain intelligence source. AMLBot said it continues to monitor affected accounts as the investigation proceeds.

From Front-End to BridgeThe attack, covered by The Defiant on Thursday, began when a compromised third-party vendor injected malicious JavaScript into Polymarket's website. The code targeted user transactions at the front-end layer; Polymarket's smart contracts on Polygon were untouched. Polymarket confirmed fewer than 15 accounts were affected, consistent with scope described by on-chain security researchers tracking the wallets in real time.

On-chain investigator Specter published the first public alert and identified the attacker's primary consolidation address on Ethereum: `0xe65b1C586757c5510B60F998Eebb14C1eF71E1eD`. PeckShield confirmed the stolen funds were bridged from Polygon to Ethereum and then swapped into roughly 1,893 ETH. Bubblemaps independently counted fewer than 15 affected accounts and estimated $3 million in losses being refunded.

PUSD is Polymarket's native collateral token, a Polygon-based ERC-20 minted 1:1 against USDC.e through the platform's on-chain collateral contracts. Deployed in April 2026 per on-chain records, PUSD operates exclusively within the platform and carries no external exchange listing, so the attacker had to convert it to ETH to exit. The token held its $1.00 peg throughout the incident, per PolygonScan data for the pUSD contract on Polygon.

Refund Commitment, Vendor Still UnnamedPolymarket posted on X Thursday morning saying it had contained the attack, removed the malicious dependency, and would refund impacted users in full. William LeGate confirmed the repayment would be total, adding in a second post that there were "no user 'losses.'" The platform has not publicly named the compromised vendor across any channel since the incident was disclosed.

Initial independent estimates put the theft at $2.94 million, based on on-chain wallet tallies by Specter Analyst, while PeckShield and other firms rounded to roughly $3 million. AMLBot's Saturday update lifts the confirmed total by approximately $160,000 from Specter's initial read.

TechCrunch reported that a Polymarket spokesperson confirmed the breach but declined to provide further detail. Security researchers at CyberInsider and BleepingComputer both classified the incident as a supply-chain attack, the type where a downstream dependency injects hostile code into a trusted application, rather than a direct protocol exploit.

Platform ContextThe platform currently holds $432 million in total value locked on Polygon, per DefiLlama. Security trackers cataloguing Q2 2026 DeFi incidents have counted the June 25 Polymarket attack among a sustained wave of supply-chain and front-end compromises targeting DeFi infrastructure in 2026.

Polymarket has committed to refunding affected users in full but has set no public timeline for completion and has not disclosed the identity of the third-party vendor whose compromise triggered the attack.

KEY TAKEAWAYS

Polymarket traders assign a 76% probability that Ethereum will reach $1,500 before the end of 2026, reflecting near-total conviction in further downside from current levels. U.S. spot Ethereum ETFs recorded 17 consecutive days of net outflows totaling $401 million in May 2026, setting the longest institutional withdrawal streak in ETH history. A confirmed death cross on the daily chart, where the 50-day EMA crossed below the 200-day EMA, preceded months of further decline in both prior Ethereum bear markets. The Glamsterdam protocol upgrade, originally targeting June 2026, has been delayed to Q3 2026, removing the primary near-term catalyst that bulls had used to anchor support. Ethereum trades below its 20-day, 50-day, and 100-day exponential moving averages, all clustered between $1,740 and $2,050, creating a dense resistance wall above current price action. Ethereum traded near $1,670 on June 25, 2026, holding just above a support zone that has protected every major low since the 2022 bear market bottom. The $1,500 level has drawn $3.9 million in total volume on Polymarket prediction markets alone, where traders now price a 76% chance that ETH reaches that threshold before year-end.

 That conviction stems from a convergence of signals: record ETF outflows, a confirmed death cross, and a delayed protocol upgrade that had been the last remaining bullish catalyst for Q2. 

This article examines the technical, fundamental, and on-chain data behind the growing consensus that $1,500 is no longer a floor but a destination, and what that shift means for positioning.

Record ETF Outflows Signal Institutional Retreat U.S. spot Ethereum ETFs logged 17 consecutive trading days of net outflows in May, totaling $401 million and setting a record for the longest institutional withdrawal streak Ethereum has experienced. 

On June 23 alone, ETH ETFs recorded $82 million in net outflows, marking the fourth straight day of withdrawals as market caution grew amid U.S.-Iran tensions and shifting interest rate expectations. The institutional retreat contrasts sharply with the accumulation thesis that dominated late 2025.

When spot ETH ETFs launched, proponents argued that regulated institutional vehicles would create a persistent demand floor. 

That thesis has not survived contact with a 65% drawdown from the approximately $4,950 all-time high reached in August 2025. Funding rates have turned negative and open interest has declined sharply, suggesting a leverage flush rather than a fresh uptrend, according to data reviewed by Cryptopolitan analysts.

Death Cross and Descending Channel Frame the Technical Picture A death cross confirmed on the daily chart when the 50-day exponential moving average crossed below the 200-day EMA. In Ethereum’s prior bear markets of 2018 and 2022, this signal preceded months of further decline before any sustained recovery began.

ETH currently trades below its 20-day, 50-day, and 100-day EMAs, all clustered between $1,740 and $2,050. That alignment creates a dense resistance wall. Analyst Ardi stated on X that ETH has one responsibility over the next four months: do not start closing below $1,500. 

He noted the level has held every major low since the 2022 bottom, and losing it would force a reconsideration of bullish assumptions, Ardi wrote on June 24. Immediate support sits at $1,585, with a deeper floor at $1,468 if the current level fails.

Glamsterdam Delay Removes the Last Bullish Catalyst The Glamsterdam upgrade represents Ethereum’s most significant protocol change since the Merge. Originally targeting June 2026, the upgrade has been officially delayed to Q3 2026, removing the primary catalyst that bulls had been using to anchor a price floor for the current quarter.

Glamsterdam’s two headline components are Enshrined Proposer-Builder Separation (ePBS) and Block-Level Access Lists (BALs). The ePBS feature removes reliance on third-party MEV relays to match block builders with validators. 

BALs enable parallel transaction execution by requiring each block to declare upfront which accounts it will read and write. A confirmed 200-million-gas limit floor was set at the Soldøgn Interop in April 2026, representing a 233% increase from the current limit.

Analysis: The delay matters because price catalysts derive their power from proximity. A Q2 upgrade creates a tradable event in the present quarter; a Q3 timeline pushes it into seasonal low-volume months, reducing the probability that institutional capital will front-run the event.

Prediction Markets Quantify the Downside Consensus Polymarket now prices a 76% chance that ETH hits $1,500 before year-end, while Kalshi shows 73%. That level of convergence across two independent prediction platforms is unusual.

The $1,500 zone aligns with a high-footprint anchored volume profile, according to Coinpedia analysis, meaning significant historical volume traded at that price, which can act as either support or a magnet for price.

Analyst James Easton compared Ethereum’s current weekly chart to the Russell 2000 index. The Russell 2000 has broken above its resistance near 2,500, but Ethereum remains below its equivalent zone near $4,300 to $5,100.

A confirmed move above approximately $5,100 could place Ethereum in price discovery, Easton noted, though that requires a reversal of the current downtrend as a prerequisite.

Regulatory Implications The SEC has not issued new guidance on spot Ethereum ETFs during the current drawdown. If outflows continue at the current pace, issuers may face pressure to reduce fees or restructure fund terms to stem redemptions.

The delayed Glamsterdam upgrade also raises questions about whether the SEC’s classification framework for ETH could shift if staking mechanics change significantly post-upgrade.

What’s Next? The immediate test is whether ETH can hold above $1,585 and reclaim $1,685 on a daily close. The Glamsterdam upgrade timeline in Q3 2026 provides the next fundamental catalyst. Prediction market pricing currently embeds an assumption that the $1,500 test is a matter of when, not if.

FAQs What does the Ethereum death cross mean for price?
A death cross occurs when the 50-day EMA crosses below the 200-day EMA, signaling medium-term momentum has turned negative relative to the long-term trend.

How many consecutive days of ETH ETF outflows occurred?
U.S. spot Ethereum ETFs recorded 17 consecutive days of net outflows in May 2026, totaling $401 million and setting a record for institutional ETH withdrawal streaks.

What is the Glamsterdam upgrade for Ethereum?
Glamsterdam is Ethereum’s next major protocol upgrade, featuring Enshrined Proposer-Builder Separation and Block-Level Access Lists, now delayed from June to Q3 2026 release.

What probability do prediction markets assign to ETH hitting $1,500?
Polymarket prices a 76% chance, and Kalshi shows 73% probability that ETH will reach $1,500 before the end of the 2026 calendar year.

Where is the next major Ethereum support level?
Immediate support sits at $1,585 with a deeper floor at $1,468, and the $1,500 level aligns with anchored volume profile data from prior cycles.

What caused the Ethereum price decline in 2026?
A combination of record ETF outflows, a confirmed death cross, the Glamsterdam upgrade delay, and broader macro risk-off sentiment drove ETH below $1,700.

Can Ethereum recover above $5,000 from current levels?
Analyst James Easton noted a confirmed move above $5,100 could place ETH in price discovery, but the current descending channel must reverse first.

References TechTimes: Ethereum Price Prediction 2026: 17-Day ETF Outflow Record Targets $1,500 Support Analytics Insight: Ethereum Price Today: ETH Holds Critical $1,500 Support Coinpaper: Ethereum Price Prediction: Can $1,500 Support Unlock $5,100? Coinpedia: Ethereum Price Prediction 2026, 2027 – 2030

Bitmine Immersion Technologies, trading as BMNR on the NYSE, has met the eligibility criteria for inclusion in the Russell 1000 Index. The addition is expected to take effect on June 26, 2026, following a preliminary list publication in May 2026.

What Bitmine actually is, and why the Russell 1000 matters The company holds approximately 5.67 million ETH, which represents roughly 4.7% of the total Ethereum supply. Combined with cash and other assets, its total holdings clock in at approximately $10.7 billion.

The Russell 1000 Index tracks the largest 1,000 US-listed companies by market capitalization. It serves as a benchmark for large-cap investing, and more importantly, it’s the reference index for a massive ecosystem of passive funds, ETFs, and institutional portfolios that automatically buy whatever the index tells them to buy.

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Chairman Tom Lee indicated that the resulting inflows from index trackers could reach into the billions.

The Ethereum thesis, wrapped in a stock ticker BMNR co-founded Ethlabs, a collaborative initiative designed to accelerate Ethereum’s institutional adoption. The effort reportedly involves notable figures from the Ethereum ecosystem, including Joe Lubin.

The company’s investor roster includes ARK Invest, Founders Fund, and Pantera Capital.

The stock trades with high liquidity, reportedly seeing hundreds of millions in daily volume.

What this means for investors When passive funds buy BMNR shares, they’re indirectly gaining exposure to 5.67 million ETH. That means pension funds, 401(k) plans, and retirement accounts benchmarked to the Russell 1000 will, whether they realize it or not, suddenly have a slice of their portfolio tied to the price of Ethereum.

When MSTR entered the Nasdaq 100 in late 2024, it triggered a wave of passive buying that helped stabilize the stock’s premium to its underlying Bitcoin holdings.

The preliminary list drops in May 2026, which gives institutional investors about a month to position ahead of the June 26 effective date.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Former Ethereum Foundation member Trent Van Epps warned on Thursday that Ethereum (CRYPTO: ETH) faces a critical funding gap within 3 to 9 months.

Why The Foundation Is Pulling Back On PurposeVan Epps, who spent five years at the Ethereum Foundation before recently stepping away, explained in an interview with Coindesk that the organization is deliberately pushing legitimacy and funding power out into the broader ecosystem rather than holding onto it. 

The Foundation’s treasury, built from the network’s earliest days, has funded critical shared resources like client development and the move from proof of work to proof of stake, but that treasury is shrinking by design.

Core development funding needs sit at roughly $30 million per year, a small figure against Ethereum’s $200 billion market cap and the trillions in stablecoin settlement the network handles. 

The problem isn’t a lack of need. It’s that as the Foundation steps back, no clear institution has stepped up to fill the gap, even as the Foundation recently cut its workforce by 20% and saw executives depart.

Protocol Guild Raised $40 Million In Four Years, But It Isn’t EnoughVan Epps built Protocol Guild, a collective funding mechanism for Ethereum’s core developers, distributing nearly $40 million over four years. 

“We’ve had some good success,” he said, “but ultimately it’s not sufficient.”

He pointed to the free-rider problem as the core obstacle to fixing it. 

“If somebody donates, but their competitor doesn’t, all of a sudden they have a distinct advantage over somebody who’s parted with some of their resources to fund the shared resource,” he said, calling coordination among large stakeholders genuinely hard even when most understand what’s at stake.

Beyond the funding question, Van Epps argued ETH as an asset needs fresh, confident storytelling that connects the token directly to the EVM’s dominance, the engine underpinning roughly 90% of total value locked across crypto including layer-2 networks.

ETH’s Chart Shows Oversold Conditions After A Sharp Trendline BreakETH broke a rising trendline that had held since February, triggering a fast move down through $1,900, then $1,800, into the $1,557 level. 

The death cross from November 2025 remains intact across all major moving averages.

RSI sits at 28.98, an oversold reading that often precedes bounce attempts even within a larger downtrend. 

The 20-day EMA at $1,707.57 and 50-day EMA at $1,864.11 sit overhead as the first levels traders will watch for any recovery to either fail or gain real traction.

Image: Shutterstock

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The XRP Ledger ($XRPL) has flipped Ethereum as the primary host for $RLUSD supply for the first time since the stablecoin launched. On-chain data cited by @BSCNews shows $801M in $RLUSD sitting on the XRP Ledger, compared to $795M on Ethereum, marking a narrow but historically significant shift in how Ripple's flagship regulated stablecoin is distributed across networks.

A Long Road to the Top The turnaround has been dramatic. By October 2025, approximately 88% of all RLUSD supply sat on Ethereum, with just $91 million on the XRP Ledger. The gap closed steadily from there. Q1 2026 was the first quarter in which RLUSD grew by more on the XRPL (plus $105.4 million) than on Ethereum (plus $15.2 million), signalling that the momentum had genuinely shifted. By June 2026, XRPL stablecoin supply reached $762M, largely driven by RLUSD, before the latest on-chain figures pushed it past the Ethereum figure for the first time.

The initial Ethereum dominance was driven largely by that network's deeper DeFi ecosystem. Ripple added RLUSD to Aave in 2025, helping boost adoption among Ethereum users, while platforms such as Curve and Morpho also supported RLUSD, giving the stablecoin more visibility and utility. Those integrations kept a large portion of supply anchored on Ethereum for most of the stablecoin's early life.

What Is Driving XRPL's Gain RLUSD's strategic advantage on the XRPL is its integration across Ripple's financial products, which provide immediate access for regulated institutional enterprise use in payments, treasury management, prime brokerage, and custody. This allows RLUSD supply to grow from real institutional demand rather than just exchange liquidity. The majority of RLUSD holders are also on the XRPL, with 46,209 on the network compared to 7,821 on Ethereum at Q1 2026 close.

The broader XRPL ecosystem has also been expanding rapidly. The XRPL closed Q1 2026 with an all-time high real-world asset (RWA) market cap of $2.25 billion, up 124% quarter-over-quarter, making it the seventh largest network by RWA market cap. A key institutional proof point came in May 2026 with a tokenized US Treasury redemption pilot involving Ondo Finance, JPMorgan Kinexys, Mastercard, and Ripple, completing a cross-border transaction in 4.2 seconds.

RLUSD is natively issued on both the XRP Ledger and Ethereum blockchains and is fully backed by a segregated reserve of cash and cash equivalents, redeemable 1:1 for US dollars. The stablecoin is regulated under a New York Department of Financial Services trust charter, a compliance posture that has helped attract institutional counterparties to both chains. Whether XRPL can hold and extend this lead over Ethereum's entrenched DeFi liquidity base remains to be seen, but the milestone itself marks a meaningful shift in how Ripple's native infrastructure is being used.

Sources:
Messari: State of XRP Q1 2026
Ripple: RLUSD Stablecoin Official Page
Yahoo Finance: XRPL Ripple Stablecoin Supply Surges to $762M

Round-the-Clock Access to Tokenized U.S. Equities@OndoFinance has activated what it describes as the industry's first 24/7 minting and redemption cycle for tokenized U.S. stocks and ETFs, a move that formally severs the dependency of real-world asset (RWA) products on traditional market hours.

Investors can now execute primary issuance and liquidations for $SPYon, $QQQon, $NVDAon, and $TSLAon during overnight sessions, weekends, and public holidays, periods when NYSE and Nasdaq are closed. The update eliminates the reliance on legacy banking schedules, allowing tokenized shares to be created or redeemed in real time regardless of exchange downtime.

Each tokenized asset is an ERC-20 token backed 1:1 by the underlying security, held by U.S. broker-dealers along with cash in transit. The tokens are total-return trackers that mirror the economic performance of their underlying assets, including price movements, dividends, and corporate actions.

Multi-Chain Rollout and Growing Platform ScaleThe 24/7 architecture is currently live on @Ethereum and @BNBChain, with a @Solana deployment scheduled for the near term. Ondo had already expanded to Solana earlier this year: Ondo Global Markets, the world's largest tokenized stock and ETF platform by total value locked, became available on Solana with more than 200 tokenized U.S. stocks and ETFs, including NVDA, AAPL, META, and ETFs such as SPY and QQQ.

Ondo Global Markets has surpassed $1 billion in tokenized stock TVL less than eight months after launch, becoming the first tokenized stocks platform to cross that mark. The platform now offers more than 260 tokenized U.S. stocks and ETFs across Solana, Ethereum, and BNB Chain, with access through wallets, exchanges, custodians, and protocols including Binance, Bitget, MetaMask, and Blockchain.com.

Ondo said Global Markets holds more than 70% market share among tokenized equity issuers and has secured regulatory approval to offer tokenized stocks and ETFs across 30 EU and EEA countries.

The broader significance of the 24/7 minting update is structural. By enabling round-the-clock mint and redeem operations, Ondo aims to make equities and ETFs composable components within the DeFi ecosystem, substantially expanding the asset universe and extending trading hours for on-chain finance. This also removes the T+1 settlement delay that traditional stock trading requires and enables transferring equity exposure between wallets as easily as sending stablecoins.

Sources
Ondo Global Markets tops $1B in TVL, Crypto Briefing
Ondo Global Markets launches on Solana, Solana.com
Deep Dive of Ondo Finance, TokenInsight

Ethereum, the world’s second-largest digital asset by market cap, continues to serve as a foundational platform for smart contracts and blockchain innovation. Developed by figures such as Vitalik Buterin and Consensys co-founder Joseph Lubin, Ethereum remains at the heart of groundbreaking advancements within the blockchain ecosystem.

Major technical upgrades aheadAs Ethereum holds its position as the main settlement layer for decentralized finance, NFT transactions, and tokenized assets, forthcoming protocol changes are being closely watched by both developers and institutional players. Most recently, Ethereum co-founder Joseph Lubin revealed that the network is just steps away from significant technical upgrades designed to enhance interoperability.

Joseph Lubin emphasized that advances in zero-knowledge proofs are being developed to enable faster and more secure communication between Ethereum’s Layer 1 and Layer 2 structures.

Among the highlighted technical themes is zero-knowledge proof (ZKP) technology, which allows information to be verified without revealing its content. This targeted approach aims to address longstanding security vulnerabilities present in traditional blockchain bridges, a subject of considerable debate in the industry.

Mini glossary: A zero-knowledge proof is a cryptographic method that allows someone to prove the validity of information without disclosing the information itself. Layer 2 refers to scaling solutions that process transactions off the main network and settle results on Ethereum.

Layer 2 interoperability strategy on the riseThis strategy closely aligns with Ethereum’s ongoing shift towards a rollup-centric approach, where an increasing portion of transactional load is handled by Layer 2 solutions. The network’s fragmented ecosystem structure has underscored the urgency of seamless interoperability between various components.

The report also highlighted the potential of a system called Interchain Token Movement, which could reduce reliance on risk-prone blockchain bridges. By improving connections between disparate ecosystems built around Ethereum, the initiative aims to form a more unified blockchain environment.

Potential effects for institutions and developersLower counterparty risk and faster settlement times are among the most notable benefits for institutional investors and DeFi protocols. For developers, enhanced toolkits could make it far easier to build robust multi-chain applications in practice.

Exchanges and custodial service providers may also see streamlined operational flows as a result. On the other hand, added complexity in transaction structures could lead to increased ETH burning, potentially altering the token’s circulating supply dynamics.

Competition intensifiesThese zero-knowledge-driven interoperability steps coincide with regulatory frameworks for digital assets becoming clearer and a surge in institutional interest. Still, rival networks such as Solana and projects adopting modular blockchain architectures are also pushing towards similar goals.

This evolving landscape has reignited debate about whether Ethereum can maintain its real-world interoperability advantage. The timing and effectiveness of the planned technical rollouts may prove decisive for Ethereum’s ecosystem competitiveness in the coming months.

Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

Mon 01 Dec 2025 ▪ 6 min read ▪ by Mikaia A.

Summarize this article with:

They always come back, more inventive, more technical. Hackers have just struck a new blow in the crypto sphere. This time, Yearn Finance is the victim. Outcome: 9 million dollars vanished. Behind the exploit, a bug of rare complexity in the yETH contract. On the surface, a simple swap. In depth, mathematical chaos. And worst of all, this is not an isolated case.

In brief Yearn Finance loses 9 million due to a flaw in a custom swap contract. The technical bug: a division omitted in the calculation of the virtual balance product. The attacker uses temporary contracts to drain assets and obfuscate the trail. A single transaction is enough to pocket 100% of the affected yETH pool liquidity. When arithmetic explodes: a bug worth millions On November 30, a user was able to create 2.35 × 10³⁸ yETH thanks to a subtle flaw in the swap() function of the smart contract. This contract was supposed to maintain a balance rule between tokens. Except a critical division was omitted in the formula. Result: the variable vb_prod ran away. Like a speedometer stuck in overdrive, it deceived the protocol about its own health.

The exploit was confirmed by PeckShield, who alerted in a tweet that nearly 9 million dollars had been lost. Part of the funds — about 3 million in ETH — was sent via Tornado Cash, a famous crypto mixer used to obscure trails. The rest still sleeps in the hacker’s address.

The severity of the bug is not a simple oversight. As Ilia.eth explained on X:

Today’s exploitation of the $yETH pool was not a flash loan type price attack, but indeed a structural collapse of the AMM’s internal accounting. Here is a technical analysis showing how a simple omitted division led to complete protocol drainage.

This flaw painfully recalls the precedent of Balancer, where poor rounding management caused similar chaos. Same cause, same effect: uncontrolled monetary creation followed by a legitimate but destructive withdrawal.

Helper contracts to raze Yearn Finance’s architecture It’s not just the bug that impresses. It’s the attack engineering. In a single transaction, the hacker orchestrated everything: deployment of “helper contracts,” token minting, conversion to ETH, fund transfer, and self-destruction of contracts to erase traces.

According to Blockscout, each helper contract executed a targeted call to the vulnerable function, then sent the ETH to a master wallet before disappearing. A strategy worthy of a heist movie, where the robber erases his digital footprints in the same second he acts.

The key address identified by several analysts is: 0xa80d…c822, currently still holding about 6 million in stETH, rETH, and other Ethereum derivatives.

On X, William Li offers further reading:

The hacker actually did not withdraw all the yETH he created, he only sold part of it in the yETH-ETH pool for 1,000 ETH (about 3 million dollars) — which is far less than the real gain he made (P2).

More than a theft, it is therefore a controlled disintegration of the yETH protocol. And behind the attack, a deep mathematical knowledge, coupled with cold and precise programming talent.

Crypto and trust: when code becomes Achilles’ heel Yearn Finance is far from an amateur project. Yet, the flaw was detected neither by users nor by audits. This is where the matter becomes worrying for the entire crypto market. Because this type of error — a multiplication instead of a division — could exist elsewhere, lurking in other protocols.

The yETH contract structure is a hybrid between Curve and Balancer. Except that instead of recalculating each transaction, it stores an intermediate state (vb_prod) supposed to be updated after each swap. A dangerous practice, according to Ilia.eth:

Storing complex product results (vb_prod) to update them incrementally is extremely risky. Errors accumulate, and the slightest logical bug can remain active indefinitely. It would be better to recalculate invariants from current balances.

The hack revives the debate: should gas economy or rigor be prioritized? One thing is certain: the consequences of a botched trade-off now amount to millions. At Yearn, the time is for remobilization: SEAL911, ChainSecurity, and a post-mortem investigation are already on the front line.

5 key facts about the Yearn Finance exploit  November 30, 2025: date of the hack; $9 million: estimated total losses; 2.35 × 10³⁸ yETH: artificially created tokens; Single transaction: the entire attack happened in one block; Helper contracts: deployed, used, then self-destructed. Calculation errors in crypto do not forgive. And for good reason: it’s not another audit that would have avoided the carnage. Balancer, despite 11 security audits, was also emptied by an almost twin bug. A simple multiplication factor can become a weapon of mass destruction when finance becomes programmable. Protocols have short memory, but blockchains never forget.

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Mikaia A.

La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

June 14 — The Humanity Project team issued a statement in the early hours of yesterday regarding a cross-chain attack targeting its H token that took place on June 8. The attacker used a phishing email to gain access to a board member’s device, stealing their private key to execute on-chain transactions. The report noted the attack displayed technical tactics and tooling similar to those linked to a North Korean hacker group. The breach occurred across both Ethereum and BNB Chain. Using the stolen key, the attacker upgraded the Ethereum contract and transferred roughly 141.18 million H tokens. Simultaneously, they seized control of the BSC-side ProxyAdmin contract and minted additional tokens. Over an approximately 8-hour window, the attacker gradually sold these assets on Uniswap and PancakeSwap, disrupting liquidity and harming token holders. The project team confirmed the attack vector was a targeted social engineering phishing email disguised as an update notification from crypto trading platform Bithumb. The victim was tricked into opening a malicious attachment, which installed a remote access trojan that granted full device control, enabling theft of wallet data and private keys. As of the latest update, the Ethereum-side H contract has been frozen via an unaffected multi-signature (multi-sig) mechanism. However, the BSC-side deployment remains under the attacker’s control, leaving open the potential for additional minting. The team is collaborating with exchanges and stakeholders to develop fixes and remedies, and advised users to stay on alert for phishing links and scam messages.

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TLDR: Uniswap’s temp check vote targets BNB Chain, Polygon, and Celo, expanding the fee-and-burn to 13 chains. Every swap generates a protocol fee that bridges to Ethereum and permanently burns UNI at a dead address. CryptoQuant data shows rising UNI net outflows on Binance, pointing to smart money accumulation near lows. The governance vote closes May 21st with 18.1M UNI cast, 100% in favor, and the 10M quorum already cleared. Uniswap is moving to extend its fee-and-burn mechanism to BNB Chain, Polygon, and Celo. A temp check vote is currently underway, drawing strong community support.

Meanwhile, on-chain data from CryptoQuant shows rising net outflows on Binance as UNI trades near its lower price range. Together, these developments are drawing fresh attention to the token’s near-term outlook.

Governance Vote Targets 13-Chain Fee-and-Burn Rollout The proposal, shared via Snapshot.eth on behalf of Uniswap’s governance, aims to bring the fee-and-burn system to three additional networks. If passed, the rollout would cover 13 chains in total.

Every swap on these networks generates a protocol fee, which bridges back to Ethereum and permanently burns UNI at a dead address.

The system has been live since December across Ethereum and nine other networks. BNB Chain and Polygon would connect through Wormhole’s Native Token Transfer setup.

Celo was approved in an earlier vote but failed due to a configuration error. This proposal corrects that path and re-runs the execution.

Forum member Abel189 described the move as “a coherent next step” given Uniswap’s “increasingly multi-chain reality.”

@Uniswap is running a temp check to extend its fee-and-burn system to @bnbchain, Polygon, and @Celo, bringing the rollout to 13 chains.

Every swap generates a protocol fee that bridges back to Ethereum and permanently burns $UNI at a dead address. The system has been live since… pic.twitter.com/13h6954YSG

— Snapshot.eth (@SnapshotLabs) May 20, 2026

He supports incremental, chain-by-chain expansion but flagged growing cross-chain messaging complexity as a key watch item going forward.

L2BEAT’s governance team, including members Kaereste and Manugotsuka, voted in favor after their research team verified the implementation, contracts, and expected governance payloads.

They noted the unchanged fee structure and continuity with the previously approved framework as reasons for their support.

On-Chain Outflow Data Points to Accumulation Activity On the market side, CryptoQuant data on the Uniswap Exchange Netflow chart for Binance is showing notable movement.

As UNI’s price corrected deeply, netflow bars grew denser with large net outflows becoming more frequent. This pattern tends to reflect behavior from longer-term holders and smart money participants.

These outflows typically mean UNI is being withdrawn from Binance and moved to personal wallets for holding. That reduces the available supply on the exchange and lowers direct selling pressure over time. Analyst Rei Researcher noted this trend as a potential setup for an accumulation zone near the bottom.

Source: Cryptoquant

Currently, UNI is seeing a mild price recovery. If the outflow trend continues and exchange supply tightens further, buying demand could push the price higher.

The combination of reduced sell-side pressure and growing protocol utility through the burn mechanism adds a structural layer to that potential move.

The governance vote closes on May 21st at 5:30 PM UTC. As of the latest update, 258 wallets have cast 18.1 million UNI votes, with 100% in favor and the 10 million quorum already cleared.

Binance has released its 43rd proof of reserves report, using a June 1 snapshot of user asset balances. 

Summary

Binance users added 25,838 BTC in May, lifting reported holdings to about 630,000 BTC total. ETH balances rose faster than BTC, climbing 10.17% to about 4.14 million ETH by June. USDT holdings fell by roughly 460 million, pointing to lower stablecoin balances among Binance users. The latest update on the Binance PoR page shows a clear rise in reported Bitcoin and Ethereum user holdings from the prior month.

User BTC holdings rose 4.26% from May 1 to about 630,000 BTC. That marked an increase of 25,838 BTC. User ETH holdings rose faster, climbing 10.17% to about 4.14 million ETH, up 382,619 ETH over the same period.

The increase in BTC and ETH balances comes as exchange reserve reports remain closely watched by traders. Larger user balances can reflect deposits, purchases, internal transfers, or other account activity. The snapshot does not separate those drivers.

USDT balance moves lower The stablecoin side moved in the other direction. Binance reported user USDT holdings of about 34.3 billion USDT, down 1.33% from May 1. The decrease was equal to roughly 460 million USDT.

Binance Releases 43rd Proof of Reserves Report

Binance, the world’s largest crypto exchange by user count and trading volume, released its 43rd Proof of Reserves report with a June 1 snapshot. User BTC holdings rose 4.26% from May 1 to about 630,000 BTC, an increase of 25,838… pic.twitter.com/P6GQBFhj3s

— Wu Blockchain (@WuBlockchain) June 18, 2026 The mixed data shows users held more BTC and ETH on Binance, while reported USDT balances fell. The report does not show why balances changed. It does not prove whether users bought crypto, withdrew stablecoins, moved funds between products, or changed trading plans.

A lower USDT balance can matter because stablecoins often act as dry powder for trading. However, the figure alone does not show whether liquidity left Binance or moved into other assets on the platform.

Proof of reserves remains under focus Binance uses proof of reserves to show that user assets are backed on-chain. The exchange says the process is meant to prove customer funds are held “1:1” and include extra reserves. The report is based on snapshots, so it does not operate as a live balance sheet.

As crypto.news reported earlier, Binance led proof-of-reserve rankings with $155.6 billion in assets in January 2026, based on CoinMarketCap data. According to an earlier crypto.news report, Binance’s open-source PoR system uses zero-knowledge proofs to improve verification and privacy for users.

Balance changes point to rotation The June snapshot differs from some earlier reserve moves. In a previous crypto.news report, Binance’s September balances showed declines in BTC, ETH and USDT during a weaker market period. The latest snapshot shows the opposite for BTC and ETH, even as USDT balances fell.

crypto.news previously reported that Binance backed major tokens at more than 100% in a May 2025 reserves update, including Bitcoin, Ethereum and USDT. That earlier report said proof of reserves became more closely watched after FTX collapsed and users demanded clearer exchange backing data.

The latest figures suggest Binance users held more core crypto assets and less USDT at the start of June. BTC and ETH remain the two largest non-stablecoin assets in most exchange reserve reports, making their balance changes a key market signal.

Still, proof of reserves has limits. It shows reported asset backing at a point in time, but it does not fully explain liabilities, off-chain obligations, or user behavior. For that reason, the latest Binance report shows a balance shift, not a full picture of exchange health.

Ethereum’s well-known MEV bot JaredFromSubway was drained after an attacker used contracts that made its automated trading system grant token approvals, according to Blockaid.

Summary

Blockaid says attacker-controlled contracts tricked JaredFromSubway’s automated system into granting approvals later used for draining. Jared publicly claimed a $15 million loss, while Blockaid’s public estimate stood near $7.5 million. Crypto.news previously tied JaredFromSubway to Vitalik Buterin’s swap and heavy Ethereum gas use in 2023. The security firm said the incident was not a normal phishing case and not a direct bug in the victim contract. 

“This is not a classic phishing attack and not a traditional smart-contract vulnerability in the victim contract,” Blockaid said. 

The firm said the bot approved attacker-controlled contracts during routes that appeared to be profitable MEV trades.

https://twitter.com/blockaid_/status/2068433798757577198

Blockaid says approvals stayed open Blockaid said the attacker first tested routes where approvals were used at once, leaving no open allowance. Later, the attacker changed the route design so the bot gave approvals that were not spent or revoked.

One example cited by Blockaid involved an approval of about 92.16 WETH to an attacker helper contract. Etherscan data for the transaction showed jaredfromsubway.eth interacting with its MEV Bot 2 contract before the later sweep. The transaction record also showed ERC-20 movements tied to the same automated route.

Final sweep hit WETH, USDC and USDT The final transaction used the open approvals to pull WETH, USDC and USDT from the JaredFromSubway MEV bot contract through transferFrom. Etherscan showed transfers from “jaredfromsubway: MEV Bot 2” to the attacker wallet beginning with 0x3e37.

Blockaid put the drained amount at about $7.5 million. The JaredFromSubway account later claimed the loss was $15 million and offered a $1 million bounty for the full return of the funds. That difference has not been fully explained in the public posts reviewed.

https://twitter.com/jaredsmev/status/2068481862499237929

How the attacker turned the bot’s logic against it The attack appears to have targeted the bot’s own trading workflow. MEV bots watch Ethereum activity and act on transactions that look profitable. In this case, attacker-controlled contracts made the route look useful enough for the bot to approve spending rights.

The attacker used 66 fake token contracts that copied the look and function of WETH, USDC and USDT. These contracts were paired with fake liquidity pools. The setup pushed the bot toward approvals that later became the path for the drain.

JaredFromSubway’s record is back in focus JaredFromSubway is one of Ethereum’s most watched sandwich bots. In a sandwich attack, a bot places trades before and after a user’s swap. This can give the user a worse price while the bot captures the spread.

As previously reported by crypto.news, JaredFromSubway targeted a small swap by Ethereum co-founder Vitalik Buterin in April, using about $1.14 million in WETH volume across SushiSwap and Uniswap V2. Crypto.news also reported in 2023 that the bot used 455 ETH in gas within 24 hours and accounted for about 7% of Ethereum gas use during that period.

The exploit now puts attention on token approvals used by automated systems. The case shows how a system built to act quickly on open market data can be steered into unsafe permissions when controls around approvals are weak. It also adds a new chapter to the wider debate over MEV, sandwich trades and user protection on Ethereum.

For now, the key public details remain split between Blockaid’s technical thread, the on-chain records and posts from the JaredFromSubway account. No recovery had been confirmed in the reviewed updates.

The Lazarus Group has laundered stolen crypto from last week’s record-shattering Bybit hack through the exchange eXch, according to the blockchain research firm Elliptic.

Hackers looted nearly $1.5 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) from Bybit on Friday.

[adinserter block="1"]

The attack represented the largest crypto hack ever and possibly the biggest heist in world history.

Elliptic, pseudonymous on-chain investigator ZachXBT and other researchers have pinned the exploit on the Lazarus Group, a prolific North Korean cybercriminal outfit known for numerous high-profile hacks on major crypto platforms.

In a new analysis, Elliptic notes that Lazarus’ money-laundering process typically follows the same steps. First, the group exchanges any stolen tokens for a native blockchain asset like Ethereum, because ETH can’t be frozen by a central authority.

Source: Elliptic Subsequently, the cybercriminal outfit “layers” the stolen funds through multiple wallets, exchanges, cross-chain bridges and crypto mixers to obfuscate the transaction trail.

Elliptic says that Lazarus is currently in the middle of the second step.

“Within two hours of the theft, the stolen funds were sent to 50 different wallets, each holding approximately 10,000 ETH. These are now being systematically emptied – as of 1pm UTC on February 24, 14.5% of the stolen assets (now worth $195 million) have been moved from these wallets.

Once moved out of these wallets, the funds are being laundered through various services, including DEXs (decentralized exchanges), cross-chain bridges and centralized exchanges.

However, one service has emerged as a major and willing facilitator of this laundering. eXch is a cryptocurrency exchange, notable for allowing its users to swap cryptoassets anonymously. This has led them to being used to exchange hundreds of millions of dollars in crypto assets derived from criminal activity, including multiple thefts perpetrated by North Korea. Despite attempting to conceal this activity, our analysis shows that since the hack, crypto assets stolen from Bybit worth over $75 million have been exchanged using eXch. Despite direct requests from Bybit, eXch has refused to block this activity.”

Over the weekend, eXch took to the BitcoinTalk forum to deny claims it was laundering crypto for Lazarus, though it did cop to processing an “insignificant” portion of the stolen Bybit funds.

“1. eXch is NOT laundering money for Lazarus/DPRK (North Korea).

2. The insignificant portion of funds from the ByBit hack eventually entered our address 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 which was an isolated case and the only part processed by our exchange, fees from which we will be donated for the public good.

3. Any claims by ZachXBT and others on Twitter regarding transactions not related to 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 that are falsely attributed to eXch are a targeted FUD attack on our exchange.”

Bybit CEO Ben Zhou says the firm has restored a 1:1 backing on all client assets after the record-setting hack, and the Dubai-based exchange announced a full restoration of services on Saturday.

Generated Image: Midjourney

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On July 24, 2025, Taiwan-based trading platform WOO X became the latest victim in a bruising summer of crypto breaches when attackers made off with roughly $14 million in unauthorized withdrawals from nine user accounts, forcing the exchange to pause withdrawals while it investigated and promised to reimburse affected users.

New chain-analysis shared by Yehor Rudytsia, Head of Forensics and Incident Response at Hacken, paints the post-heist picture as far more organized than a one-off theft. According to Rudytsia, the exploit, which Hacken dates to July, resulted in total losses of about $14 million and was carried out by a DPRK-linked actor tracked in law-enforcement circles as “TraderTraitor.”

Hacken says it is actively monitoring the on-chain movements and is supporting recovery efforts by flagging malicious addresses to the wider security community. The laundering choreography, as mapped by Hacken, left half the stolen funds on EVM networks and the rest on Tron and Bitcoin.

In the last 24 hours, on-chain traces show that the bulk of the EVM-side proceeds, more than $7 million, were routed through THORChain and swapped into Bitcoin, a technique observers have increasingly flagged as a common laundering path after major exchange thefts earlier this year. Rudytsia noted that THORChain’s native cross-chain swap functionality has repeatedly been used to convert large sums of ETH and ERC-20 tokens into BTC, making it attractive to sophisticated operators moving stolen assets across ecosystems.

On-chain Evidence Hacken’s report also documents the handling of the Tron-denominated portion (about $2.5 million in TRX). Those funds, the team found, were converted into USDT, bridged to Ethereum via LayerZero infrastructure, and from there, some of the bridged USDT was again pushed to Bitcoin through THORChain.

On-chain evidence of a nine-figure USDT transfer arriving on Ethereum from a LayerZero executor appears in public transaction records from October 1, 2025, which match the pattern Hacken described.

Complicating the trail, part of the funds that surfaced on Ethereum were sent to a wallet previously tied to the BingX hot-wallet exploit in 2024, itself attributed by investigators to North Korean-linked groups, suggesting either reuse of laundering infrastructure or coordination across multiple thefts.

The address that received those transfers is publicly visible on Ethereum explorer records, and investigators say the link deepens the picture of an organized laundering chain connecting multiple high-profile incidents.

Taken together, the movements indicate that roughly $8–9 million from the WOO X breach was bridged on the same day from Ethereum to Bitcoin, almost entirely via THORChain, leaving an estimated 90% of the stolen value now sitting on Bitcoin addresses as perpetrators accelerate conversion into the oldest and most liquid on-chain asset.

Security teams monitoring the flows warn that once funds consolidate on Bitcoin, conventional tracing and intervention become harder and the risk of eventual cash-out increases. Rudytsia told Blockchain Reporter that Hacken is continuing to monitor the accounts and will push flagged addresses to exchanges and compliance partners in the hope of freezing or otherwise freezing flow paths where possible.

For now, the case is a fresh reminder that as cross-chain tooling gets more powerful, it also gives sophisticated attackers faster, lower-friction routes to turn stolen tokens into harder-to-trace assets, and that forensic work on multiple chains, together with cooperation from on- and off-ramp services, remains the only immediate line of defence in today’s time.

AUTHOR

Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.

Ethereum gaming franchise Illuvium has undergone a company restructuring, resulting in layoffs along with some core contributors opting to take pay cuts or receive their wages in the gaming IP’s own token.

The downsizing comes after Illuvium released a trio of interconnected games last year—Overworld, Arena, and Zero—that covered varying genres. Despite its ambitious vision, the community's reaction wasn't overwhelmingly positive following years of development.

In December, co-founder Kieran Warwick admitted that "concerns" about the franchise's gameplay were valid and that things had to change. Part of this included that Illuvium had "significantly" reduced its costs via capping wages at $85,000, among other adjustments.

But this week, Warwick said that more substantial cuts had to be made.

"We made the difficult decision to restructure our core contributor team to bring our monthly burn rate closer to $500,000," Warwick said in a Tuesday statement. "We want to extend our sincere gratitude to everyone affected by these changes."

The statement on X (formerly Twitter) further explains that some employees have "generously offered" to take pay cuts, while others have chosen to receive their salary in the project's ILV token rather than the USDC stablecoin. It also alludes to letting employees go as part of a “leaner” approach, although never explicitly says this is the case.

In the replies, Illuvium Community Manager DickKingz, also known as Rich, explained that the team is now down to 66 core contributors—down from between 100 to 150 people as of late.

"The trim to 66 was unfortunately a lot of my teammates and friends, and [I] hate to see them go," Rich said. "Hopefully it’s only bye for now, and in the future when things improve, we can bring many back."

Illuvium did not immediately respond to Decrypt's request for comment.

As a result of the restructuring, as well as some other operating cost cutting measures, Illuvium has gotten closer to its "burn rate" goal of $500,000—it was at $900,000 as of December. This means that the Illuvium franchise now has a 24-month runway to continue development.

Previously, Warwick explained that Illuvium planned to seek fresh funding around March. But in the wake of the restructuring, he confirmed that the franchise isn't looking to raise "right now." 

He had also previously outlined a plan to move the franchise forward. The co-founder proposed focusing on one game at a time—rather than the three games it was developing—including reworking its Overworld to be a more streamlined version of a massively multiplayer online game, or MMO, and reducing in-game microtransactions. 

It appears that the 24 month-runway will get the project to the point of completing its auto-battler, starting the rework of Overworld, and attempting to keep the community engaged, according to the restructuring statement.

"This is step one in the rebuild. Now we have the runway, and it will continue to be extended," Warwick said on X. "Enormous updates are coming mid-next month: Auto drone runs, multiplayer servers, and leaderboards reactivated."

"28-3 down with two minutes to go in the third quarter," he added, comparing the project to a losing team in a football game. "We're about to run this shit back so hard."

Edited by Andrew Hayward

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