TLDR: Ethereum saw accelerated August activity across Layer-2 upgrades, institutional adoption and ecosystem development. BlackRock expanded tokenization on Ethereum while Gnosis and Whitechain pursued Layer-2 transitions. Privacy tools and wallet infrastructure advanced through new applications, security features and post-quantum technology. DeFi growth continued as Aave, Morpho and Uniswap reached new deposit and trading milestones. Ethereum development activity accelerated through August as builders across the ecosystem shipped new upgrades, launched fresh protocols, and expanded institutional integrations.
Layer-2 networks advanced their infrastructure, decentralized finance protocols recorded fresh deposit milestones, and privacy-focused applications gained new momentum.
The developments touched governance, tokenization, wallet security, and onchain gaming across the wider Ethereum landscape.
Institutional and Layer-2 Expansion Gain Momentum Ethereum’s Layer-2 ecosystem saw structural changes this month. GnosisDAO approved a vote to move Gnosis Chain from an independent Layer-1 network to a ZK-proven Ethereum Layer-2 rollup.
The shift introduces synchronous composability, allowing applications on Gnosis and Ethereum to interact within a single transaction.
Institutional interest in Ethereum also expanded. BlackRock introduced its Select Treasury Based Liquidity Fund with a tokenized share class deployed on Ethereum mainnet.
The asset manager additionally began tokenizing share classes tied to its $311 billion European money market fund series on the network.
Ethereum is for shipping.
Here are 35 things the Ethereum ecosystem launched, upgraded, and announced through August.
1/ GnosisDAO approved a vote to transition @gnosischain from its own L1 to a ZK-proven Ethereum L2 rollup with synchronous composability, so apps on Gnosis and…
— Ethereum (@ethereum) September 3, 2026
Arbitrum activated its ArbOS Elara upgrade, bringing more responsive transaction fees to Arbitrum One. The update also increased Stylus smart contract capacity fourfold and added new features for chains built on the Arbitrum stack.
Elsewhere, Whitechain, the network connected to the WhiteBit exchange ecosystem, announced plans to transition from an independent Layer-1 into an Ethereum Layer-2 built on the OP Stack.
Ethereum client teams also introduced the Platåberget testnet to prepare implementations ahead of the Glamsterdam network upgrade.
Privacy Tools and Wallet Infrastructure Advance Privacy-focused development remained active across the Ethereum ecosystem in August. Aztec Network launched Alpha v5, a protocol upgrade that reduced private transaction proving times. The release also brought an initial group of privacy-preserving applications onto the network.
Privacy Boost introduced a new frontend application enabling users to send private transfers directly from connected wallets.
Wallet security also advanced through new releases. MetaMask launched its Agent Wallet, an agentic tool built with spending limits, allowlists, and configurable risk profiles.
Freedom Factory opened presales for PQ1, an air-gapped hardware wallet that signs transactions using post-quantum cryptography through an Ethereum smart account.
Privacy-focused wallet Cloaked reported reaching $650,000 in deposits and $1 million in transaction volume during its first 90 days of operation.
Web3Privacy also released an updated Ethereum Privacy Ecosystem Mapping for 2026, documenting the network’s growing privacy tooling landscape.
DeFi Growth and Ecosystem Programs Continue Decentralized finance activity on Ethereum showed continued expansion during the month. Aave v4 surpassed $525 million in deposits on Ethereum mainnet.
Morpho reported crossing $880 million in total deposits on Robinhood Chain within less than two months of going live, while also reaching $5.75 billion in deposits on Base.
Uniswap processed more than $1 billion in stock token volume on Robinhood Chain, contributing to over $20 billion in total volume since the platform’s July launch.
The exchange also launched v4 Permissioned Pools, a hook standard enabling allowlisted swaps for regulated assets while keeping the base protocol permissionless.
Coinbase launched tokenized stocks on Base for non-U.S. users, backed one-to-one by a regulated custodian and held in self-custody wallets.
Base separately opened applications for its Base Batches 004 accelerator program, supporting ten early-stage teams building on the network.
Ether.fi expanded its crypto neobank offering with tokenized stocks and portfolio-backed loans facilitated through Aave.
The Ethereum Foundation also launched an autoresearch challenge focused on post-quantum security, built alongside zkSecurity and EigenLabs, placing a machine-verified security problem on a public leaderboard for open contribution.
TLDR: Term Labs confirmed a governance exploit that security firms estimate drained roughly $8.5M from its vaults. PeckShield traced 2,843 ETH worth about $6.87M and 1.68M USDC, later swapped into roughly 1.68M DAI. Term’s vault governance uses a Gnosis Safe, Zodiac Delay Module and seven-day timelock with DAO veto rights. DeFiLlama showed $10.87M in TermFinance Vault TVL before the exploit, including about $7.23M on Ethereum. Term Labs is investigating a governance exploit that security firms estimate drained about $8.5 million from Term Finance vaults on Aug. 23. The incident shifted attention from smart-contract code toward the governance controls protecting the protocol’s vaults and assets.
CertiK identified an attacker-controlled address holding about 2,843 ETH and roughly $1.6 million in DAI after the exploit. PeckShield estimated the attacker removed 2,843 ETH, worth about $6.87 million, alongside 1.68 million USDC from the affected system.
Term Labs Suffers $8.5M Governance Exploit Affecting Vaults
DeFi lending protocol @term_labs suffered a governance exploit affecting its vaults. According to PeckShieldAlert and CertiK Alert, the attack resulted in losses of about $8.5 million, with the exploiter holding… pic.twitter.com/yhAHbCN95d
— Wu Blockchain (@WuBlockchain) August 23, 2026
The USDC was later exchanged for roughly 1.68 million DAI, while the attack was initially funded with 2 ETH from Tornado Cash. Term Labs confirmed that a governance exploit affected its vaults, but it had not released a complete postmortem by Aug. 23.
Consequently, the attack sequence, affected vaults, and method used to defeat governance protections remained unconfirmed.
Term Vault Governance Controls Face Scrutiny After $8.5M Exploit The incident differs from a conventional contract failure as early security reports identify governance as the apparent route to vault assets. That distinction places Term Finance’s control structure under examination as investigators determine how the attacker reached protected funds.
Term’s documentation assigns separate manager sand governor roles, with governance actions passing through a Gnosis Safe and Zodiac Delay Module. Those actions also face a seven-day timelock before execution, creating a window for changes to be reviewed.
Vault liquidity providers are described as DAO participants with authority to veto proposals during that delay. According to the documentation, a successful veto can invalidate a queued transaction before execution, adding protection.
However, Term Labs had not confirmed whether voting influence, a permissions issue, configuration failure, or another governance path caused the breach. Without that postmortem, evidence does not establish which safeguard failed or whether the documented controls operated as designed.
Vault Design, TVL and Recovery Questions Remain Unresolved Term Finance provides non-custodial, fixed-rate, overcollateralized lending modeled on traditional repurchase agreements and matches borrowers with lenders through sealed-bid auctions. Lenders receive repo tokens representing principal and interest claims at maturity, while Strategy Vaults automate participation and liquidity management.
The vaults use Yearn V3’s ERC-4626 infrastructure alongside custom logic for auctions, portfolio limits, reserves, and maturity controls. Therefore, evidence does not establish a vulnerability in Yearn V3 or Ethereum.
Instead, scrutiny remains focused on the permissions and governance layer surrounding Term’s vault implementation. Before the exploit, DeFiLlama listed TermFinance Vaults with about $10.87 million in TVL, including $7.23 million on Ethereum.
However, that figure excludes capital deployed into Term repo tokens to prevent double-counting, making comparison with the $8.5 million estimate unreliable. Term Labs had not announced a recovery plan, reimbursement framework, or confirmed total user losses at the time of writing.
It also had not disclosed whether deposits, withdrawals, governance functions, or specific vaults had been paused after the incident. The attacker-controlled wallet remains a tracing focus, although Tornado Cash funding alone does not identify the attacker.
For depositors, the next disclosures must clarify the malicious governance transactions, affected contracts, proposal timing, and timelock activity. Those details will determine whether the incident involved governance capture, faulty permissions, or another implementation failure within Term Finance’s vault controls.
GnosisDAO has approved GIP-153, giving Gnosis Chain a governance mandate to move toward becoming a ZK-proven Ethereum rollup rather than continuing only as an independent Layer 1 network.
The proposal passed with 123,158 GNO voting in favor, according to the Snapshot vote. The plan would transition Gnosis Chain into what the proposal describes as part of an Ethereum Economic Zone, with the chain settling on Ethereum and inheriting Ethereum’s security. Gas would remain paid in xDAI, and the target genesis window is late 2026 or early 2027.
That is a meaningful direction change.
Gnosis Chain has long occupied an unusual position in the Ethereum ecosystem. It is closely aligned with Ethereum values and tooling, but it has operated as its own chain. Moving toward a ZK-proven L2 model would bring it more directly into Ethereum’s rollup roadmap.
Still, this is a governance mandate, not immediate technical deployment.
TL;DR GnosisDAO approved GIP-153 to transition Gnosis Chain toward a ZK-proven Ethereum rollup. The proposal passed with 123,158 GNO voting in favor. Gas would remain paid in xDAI, with a target genesis in late 2026 or early 2027. A Directional Vote, Not A Finished Migration The most important detail is timing.
GIP-153 gives the project a clear direction, but it does not mean the technical migration has already happened. Rollup transitions require engineering, testing, sequencer and prover design, bridge considerations, user migration planning, security review, and ecosystem coordination.
That takes time.
The proposal’s late 2026 or early 2027 genesis target gives the market a broad window, not an overnight switch. Users should not assume that Gnosis Chain has already become an Ethereum rollup simply because the vote passed.
Governance has approved the direction. Implementation comes next.
Why Ethereum Settlement Matters The appeal of settling on Ethereum is straightforward.
Ethereum remains the dominant security and settlement layer for rollups. Chains that settle to Ethereum can lean on its validator set, liquidity base, developer ecosystem, and institutional credibility. That is why many projects have chosen to become L2s rather than compete as standalone chains.
For Gnosis Chain, the move could strengthen its Ethereum alignment while preserving some of its existing user experience.
Keeping gas paid in xDAI is particularly important because it protects one of the chain’s most familiar features. Users would not suddenly need to rethink every basic transaction around ETH gas.
That balance — Ethereum security with Gnosis-specific UX — is likely the point.
Unlocking Staked GNO Adds Another Layer The proposal also unlocks approximately 350,000 staked GNO.
That matters because governance changes can have token-economic effects as well as technical ones. Unlocking staked assets may improve flexibility, change incentives, or affect how participants think about GNO’s role in the future network structure.
The market will want to understand whether the transition makes GNO more governance-centered, more economically useful, or simply part of a broader ecosystem alignment.
That question will take time to answer.
For now, the vote shows that GnosisDAO wants the chain’s next phase to sit closer to Ethereum’s rollup economy.
Rollup Consolidation Keeps Moving The broader story is that Ethereum’s scaling map continues to absorb more activity.
The L2 model has become the dominant way for Ethereum-aligned ecosystems to grow without forcing every transaction onto Ethereum mainnet. If Gnosis Chain follows through, it would add another established ecosystem to the rollup side of the market.
That could make sense strategically.
Instead of competing with Ethereum, Gnosis Chain can position itself as a specialized extension of Ethereum’s settlement layer. That may be more attractive to developers, users, and institutional partners who already trust Ethereum’s security model.
But it also means Gnosis will need to execute carefully. Rollup infrastructure is competitive, and users will judge the transition by reliability, fees, liquidity, tooling, and bridge safety.
What Comes Next The next phase is execution.
GnosisDAO has approved the direction. Now the project needs technical design, implementation milestones, test environments, ecosystem communication, and final launch planning.
The vote is important because it clarifies intent. It does not settle every detail.
For Ethereum, the approval is another sign that its rollup-centered roadmap continues to pull in aligned ecosystems. For Gnosis Chain, it marks the beginning of a new chapter: one where the chain’s future is tied more tightly to Ethereum settlement.
That could be powerful, but the hard part starts after the vote.
This article is based on GnosisDAO’s GIP-153 Snapshot vote and related governance materials.
This article was written by the News Desk and edited by Samuel Rae.
GnosisDAO approved Gnosis Chain’s transition from a standalone layer-1 network to a ZK-proven Ethereum Economic Zone (EEZ) rollup.
GIP-153 received 123,158 GNO in support, 115 against and 151 abstaining across 54 voters, Gnosis Chain said in an X post. Turnout reached 123,425 GNO, exceeding the 75,000 quorum.
Under the proposal, Gnosis Chain’s validator set would be retired and the network would settle transactions on Ethereum, making Gnosis Chain a layer-2 (L2) that relies on Ethereum’s validators for settlement.
An initial launch is targeted for late 2026 or early 2027, subject to the required EEZ technology being ready.
The update would enable Gnosis Chain-native smart contracts to call Ethereum and use the result in the same transaction, giving it access to Ethereum mainnet assets and liquidity in an environment “optimized” for consumers, a capability the proposal says is not currently available on existing L2s.
Gnosis Chain to become first production EEZ instanceThe EEZ is a framework for building Ethereum-aligned rollups, developed by Gnosis and ZisK, with funding from the Ethereum Foundation.
The initiative aims to unify Ethereum’s fragmented L2 ecosystem by enabling smart contracts across different rollups to execute synchronously without relying on bridges. It targets one of Ethereum’s main scaling trade-offs: improved throughput from dozens of L2 networks, which separate liquidity, infrastructure, and user activity across separate blockchains.
Gnosis Chain would become its first deployed instance while retaining its existing applications, balances and xDAI gas token.
Ethereum co-founder Vitalik Buterin previously raised concerns about the centralized sequencers and trusted bridging mechanisms as potential weak points in the design of some L2 networks. “The original vision of L2s and their role in Ethereum no longer makes sense, and we need a new path,” Buterin wrote in a Feb. 3 X post.
According to data from L2Beat, 22 Ethereum rollups currently secure $27.82 billion. Including validiums, optimiums and other scaling networks, the platform tracks $34.88 billion in total value secured.
EEZ could reduce reliance on vulnerable infrastructure: Standard CharteredEEZ could reduce reliance on blockchain bridges and increase activity within the Ethereum ecosystem, according to Geoffrey Kendrick, global head of digital assets research at Standard Chartered.
“The EEZ will have the benefit of reducing the need for bridges (where hacks tend to occur) and increasing the usability of assets in EVM chains,” he wrote in a May 28 report shared with Cointelegraph.
“Both of these are likely to lead to greater activity in the Ethereum ecosystem.” Kendrick said the EEZ could create greater composability between assets, allowing smart contracts on different participating networks to interact within the same transaction.
Magazine: Ethereum’s EEZ could pull other blockchains into its orbit
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
GnosisDAO approved Gnosis Chain’s transition from a standalone layer-1 network to a ZK-proven Ethereum Economic Zone (EEZ) rollup.
GIP-153 received 123,158 GNO in support, 115 against and 151 abstaining across 54 voters, Gnosis Chain said in an X post. Turnout reached 123,425 GNO, exceeding the 75,000 quorum.
Under the proposal, Gnosis Chain’s validator set would be retired and the network would settle transactions on Ethereum, making Gnosis Chain a layer-2 (L2) that relies on Ethereum’s validators for settlement.
An initial launch is targeted for late 2026 or early 2027, subject to the required EEZ technology being ready.
The update would enable Gnosis Chain-native smart contracts to call Ethereum and use the result in the same transaction, giving it access to Ethereum mainnet assets and liquidity in an environment “optimized” for consumers, a capability the proposal says is not currently available on existing L2s.
Gnosis Chain to become first production EEZ instanceThe EEZ is a framework for building Ethereum-aligned rollups, developed by Gnosis and ZisK, with funding from the Ethereum Foundation.
The initiative aims to unify Ethereum’s fragmented L2 ecosystem by enabling smart contracts across different rollups to execute synchronously without relying on bridges. It targets one of Ethereum’s main scaling trade-offs: improved throughput from dozens of L2 networks, which separate liquidity, infrastructure, and user activity across separate blockchains.
Gnosis Chain would become its first deployed instance while retaining its existing applications, balances and xDAI gas token.
Ethereum co-founder Vitalik Buterin previously raised concerns about the centralized sequencers and trusted bridging mechanisms as potential weak points in the design of some L2 networks. “The original vision of L2s and their role in Ethereum no longer makes sense, and we need a new path,” Buterin wrote in a Feb. 3 X post.
According to data from L2Beat, 22 Ethereum rollups currently secure $27.82 billion. Including validiums, optimiums and other scaling networks, the platform tracks $34.88 billion in total value secured.
EEZ could reduce reliance on vulnerable infrastructure: Standard CharteredEEZ could reduce reliance on blockchain bridges and increase activity within the Ethereum ecosystem, according to Geoffrey Kendrick, global head of digital assets research at Standard Chartered.
“The EEZ will have the benefit of reducing the need for bridges (where hacks tend to occur) and increasing the usability of assets in EVM chains,” he wrote in a May 28 report shared with Cointelegraph.
“Both of these are likely to lead to greater activity in the Ethereum ecosystem.” Kendrick said the EEZ could create greater composability between assets, allowing smart contracts on different participating networks to interact within the same transaction.
Magazine: Ethereum’s EEZ could pull other blockchains into its orbit
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
GnosisDAO approved a strategic shift from standalone Layer 1 to an Ethereum-settled rollup, unlocking about 350,000 GNO and ending treasury-funded staking rewards.
Gnosis Chain is transitioning from a standalone Layer 1 to an Ethereum-settled rollup and retiring its independent validator set, according to an announcement from Gnosis Chain and a proposal published on GnosisDAO's governance forum.
For GNO stakers, the approved direction would unlock roughly 350,000 GNO when the validator set is sunset and end the treasury-funded staking subsidy. For users and developers, xDAI would remain the gas token, while addresses, balances and contract state would continue without migration to a new chain.
The proposal's main technical promise is atomic access from Gnosis to Ethereum contracts and liquidity. But that synchronous composability will be one-directional at launch, with calls from Ethereum into Gnosis and broader cross-instance composability deferred to later development.
The change would make Gnosis Chain a Gnosis-operated instance of the Ethereum Economic Zone framework. The proposal says the network would produce blocks every two seconds, prove its state every Ethereum block and settle to Ethereum Layer 1.
The vote approved a strategic direction rather than a final technical design and requested no funding. Gnosis Ltd will initially operate a centralized composer that orders transactions, builds blocks and submits them for proving and settlement.
Proof-of-Stake Chain With Large Validator SetGnosis Chain began as xDai, a stablecoin-denominated Ethereum sidechain that GnosisDAO absorbed in a November 2021 merger, and switched to proof-of-stake in December 2022 in an upgrade modeled on Ethereum's Merge, with a deposit of one GNO per validator against Ethereum's 32 ETH.
The low threshold produced one of the largest validator sets in crypto, above 100,000 at the time of the merge, but not the fee revenue to pay for it. GIP-153 says fees cover "only a small fraction of even the minimal cost of security," leaving the DAO treasury to fund the rest through GNO issuance that dilutes non-stakers by about 2.3% a year, against sub-1% on Ethereum. The chain holds about $96.4 million in total value locked, according to DefiLlama.
The validator set was already contracting before the vote. GnosisDAO's July community summary put active validators at roughly 52,000, down from about 76,000 a month earlier, with approximately 295,000 GNO staked. GnosisDAO also cut Gnosis Ltd's annual funding to $15 million from a $30 million request in GIP-154, and in May approved a one-time, pro-rata treasury redemption in GIP-151 after tokenholders spent months arguing GNO traded below the DAO's net asset value.
Validator Security Gives Way to Ethereum SettlementGIP-153 says Ethereum validators will replace Gnosis Chain's validator set as the source of settlement security. Existing bridge validators are intended to move into a new role operating the instance's proof systems.
The proposal explicitly describes becoming less decentralized as a deliberate choice. It says a misbehaving composer would be able to delay or exclude transactions, although it could not forge state or reverse finalized history. A forced-inclusion route through Ethereum is listed as an option to evaluate later, not a launch feature.
The end of staking also leaves GNO's replacement economic role unfinished. The proposal intends to connect GNO to fee revenue from network activity, but does not select a mechanism. Fee sharing and buybacks are listed as possibilities for a later GIP after prover economics can be observed in production.
Full Composability Is a Later StepGnosis Chain said the transition would deliver “synchronous composability with mainnet,” something it said no existing Layer 2 offers. GIP-153 defines the initial capability more narrowly: a contract on Gnosis could call an Ethereum contract and use the result in the same atomic transaction, with the entire operation succeeding or reverting together.
At launch, composability would only run from Gnosis to Ethereum. An intents-based bridge is intended to cover the period before bidirectional and cross-instance calls become available.
The initial version would also use an interim proving setup, likely based on trusted execution environments, before moving to real-time zero-knowledge proving. The proposal targets the first Ethereum Economic Zone block for December 2026 or January 2027, with bidirectional composability and real-time proving expected during 2027.
Gnosis [GNO] experienced massive upside momentum after breaking out of its consolidation range. The altcoin reached a monthly high of $141 before retracing slightly.
As of this writing, GNO traded around $114, up 15.2% on the daily chart. The rally was backed by a 1,725% surge in Trading Volume, which reached $15.6 million.
Source: CoinAnk In fact, Turnover jumped to a monthly high of $1.4 million, according to CoinAnk. Rising Turnover alongside price indicated stronger buying interest.
Gnosis’ Market Cap also climbed over 17% to more than $300 million. This pushed GNO into CoinMarketCap’s top 100 cryptocurrencies.
Why are retail traders buying Gnosis? Source: CryptoQuant GNO’s rally appeared mostly driven by returning retail demand. Spot Average Order Size recorded retail-sized orders in the Spot market.
Retail traders and whales had recently stepped away. However, retail orders returned on the 18th of August.
Spot Average Order Size identifies order size rather than trade direction. Even so, Spot Taker CVD showed buyer dominance during this period.
Source: CryptoQuant Together, these metrics suggested that returning retail traders were mostly accumulating GNO.
That was not all. Whale platform DeepBlueAlpha reported aggressive accumulation before the price jump.
The platform observed 178 whale wallets moving $6.4 million worth of GNO across 784 trades. Most trades occurred around $104, establishing the level as a strong demand zone before the rally.
Can retail demand sustain Gnosis’ rally? Strong demand pushed Gnosis above its short-term SMAs, while the MACD reflected growing upside momentum. At the same time, the Relative Strength Index (RSI) made a bullish crossover and rose to 67.
At this level, the RSI reflected strong market demand and substantial buyer control.
Source: TradingView Historically, strong demand has preceded major upside price moves.
Therefore, sustained retail and whale demand could help Gnosis target the immediate resistance at $126. However, the bullish outlook requires a daily close above $116, which marks the long-term Moving Average.
Failure to close above $116, alongside increased profit-taking, could send GNO back toward $104.
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.
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.
According to monitoring by Onchain Lens, a wallet suspected to be linked to the Ethena team deposited 17 million ENA tokens to FalconX one hour ago, valued at approximately $14.09 million, likely for over-the-counter (OTC) sale. The wallet had previously received ENA from Ethena’s Gnosis Safe last year.
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.
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.
According to OnchainLens monitoring, roughly two hours ago, a wallet transferred 289,760 LINK tokens (worth approximately $2.74 million) to its Gnosis Safe multi-signature wallet. The LINK tokens were steadily accumulated from Binance over the past month.
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.
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.
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.
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.
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.
The "Big Short" Michael Burry's latest portfolio adjustment: increases holdings in Flutter, while selling DraftKings
Michael Burry, the real-life inspiration for "The Big Short", disclosed his latest portfolio adjustments via his Substack account today: he has sold his long position in DraftKings (DKNG) and increased his long position in Flutter (FLUT).
6 minutes ago
Some Hong Kong-listed AI stocks advanced, with MINIMAX-W surging over 15%.
According to Bitget market data, some Hong Kong-listed artificial intelligence stocks are advancing, with MINIMAX-W surging over 15%, Zhipu rising more than 9%, Shenghong Technology gaining over 7%, and Cambridge Technology up more than 3%. Earlier reports stated that the Shanghai Stock Exchange and Shenzhen Stock Exchange have added MINIMAX-W to their Hong Kong Stock Connect eligible securities, effective August 6.
6 minutes ago
JPMorgan Chase: Retail investor influence in tech stock trading may increase after a brutal sell-off.
According to JPMorgan's preliminary assessment of data on equity long-short hedge funds in the technology, media, and telecom (TMT) sector, tech stock trading, after the brutal July selloff, may be becoming more reliant on retail investors, with volatility set to intensify. JPMorgan strategists including Nikolaos Panigirtzoglou and others noted that data from Pivotal Path shows these hedge funds lost over 10% in July. This drawdown does not yet include the Situational Awareness fund, which was forced to sell most of its public equity portfolio last week following the sharp selloff in semiconductor and tech stocks. Panigirtzoglou believes this indicates that other equity long-short hedge funds focused on tech stocks may also have faced forced liquidations in semiconductor and memory chip stocks.
6 minutes ago
A crypto whale transferred 20,100 SPCXB tokens to Binance, incurring an unrealized loss of $720,000.
According to YuEmber monitoring, a crypto whale withdrew 20,100 SPCXB (SPCX stock token) from Binance in early July, and transferred all of the tokens, valued at approximately $2.3 million, back to the exchange early this morning, posting an unrealized loss of $720,000.
6 minutes ago
Four new addresses have built positions totaling 1,540 BTC, worth approximately $99.4 million.
According to Lookonchain's monitoring, four newly created wallets received a total of 1,540 Bitcoin (worth approximately $99.4 million) from Galaxy Digital and BitGo platforms over the past three hours.
6 minutes ago
Google's AI division undergoes power restructuring, four veteran executives depart en masse, its stock closes down over 4%.
Google DeepMind CEO Demis Hassabis announced early this morning that he is stepping down from day-to-day management roles, transitioning to DeepMind Chairman and taking on the role of Alphabet Chief Scientist. He will continue to oversee long-term AI research and lead drug discovery firm Isomorphic Labs. Gemini’s development and delivery will be fully handled by former DeepMind Chief Technology Officer Koray Kavukcuoglu, who will report directly to Alphabet CEO Sundar Pichai. On the same day, legendary engineer Jeff Dean announced his departure from Google, taking with him Sanjay Ghemawat, Oriol Vinyals and Quoc Le to co-found a company named Discovery Loop. The team aims to leverage AI to automate the full scientific research workflow: from question formulation, experiment design, execution to result evaluation. Google participated in the company’s seed round investment, will act as its cloud provider, and provide first-year computing power support. For this top research team that has decided to launch their own venture, Google chose not to force retention, instead maintaining capital, cloud service and research collaboration partnerships. According to market data from BIT (bit.com), the market reacted swiftly to the news. Alphabet’s stock price dropped more than 5% intraday, closing down 4.03% at the regular session close. It rose 0.57% in after-hours trading, trading at $364.49.
The "Big Short" Michael Burry's latest portfolio adjustment: increases holdings in Flutter, while selling DraftKings
Michael Burry, the real-life inspiration for "The Big Short", disclosed his latest portfolio adjustments via his Substack account today: he has sold his long position in DraftKings (DKNG) and increased his long position in Flutter (FLUT).
6 minutes ago
Some Hong Kong-listed AI stocks advanced, with MINIMAX-W surging over 15%.
According to Bitget market data, some Hong Kong-listed artificial intelligence stocks are advancing, with MINIMAX-W surging over 15%, Zhipu rising more than 9%, Shenghong Technology gaining over 7%, and Cambridge Technology up more than 3%. Earlier reports stated that the Shanghai Stock Exchange and Shenzhen Stock Exchange have added MINIMAX-W to their Hong Kong Stock Connect eligible securities, effective August 6.
6 minutes ago
JPMorgan Chase: Retail investor influence in tech stock trading may increase after a brutal sell-off.
According to JPMorgan's preliminary assessment of data on equity long-short hedge funds in the technology, media, and telecom (TMT) sector, tech stock trading, after the brutal July selloff, may be becoming more reliant on retail investors, with volatility set to intensify. JPMorgan strategists including Nikolaos Panigirtzoglou and others noted that data from Pivotal Path shows these hedge funds lost over 10% in July. This drawdown does not yet include the Situational Awareness fund, which was forced to sell most of its public equity portfolio last week following the sharp selloff in semiconductor and tech stocks. Panigirtzoglou believes this indicates that other equity long-short hedge funds focused on tech stocks may also have faced forced liquidations in semiconductor and memory chip stocks.
6 minutes ago
A crypto whale transferred 20,100 SPCXB tokens to Binance, incurring an unrealized loss of $720,000.
According to YuEmber monitoring, a crypto whale withdrew 20,100 SPCXB (SPCX stock token) from Binance in early July, and transferred all of the tokens, valued at approximately $2.3 million, back to the exchange early this morning, posting an unrealized loss of $720,000.
6 minutes ago
Four new addresses have built positions totaling 1,540 BTC, worth approximately $99.4 million.
According to Lookonchain's monitoring, four newly created wallets received a total of 1,540 Bitcoin (worth approximately $99.4 million) from Galaxy Digital and BitGo platforms over the past three hours.
6 minutes ago
Google's AI division undergoes power restructuring, four veteran executives depart en masse, its stock closes down over 4%.
Google DeepMind CEO Demis Hassabis announced early this morning that he is stepping down from day-to-day management roles, transitioning to DeepMind Chairman and taking on the role of Alphabet Chief Scientist. He will continue to oversee long-term AI research and lead drug discovery firm Isomorphic Labs. Gemini’s development and delivery will be fully handled by former DeepMind Chief Technology Officer Koray Kavukcuoglu, who will report directly to Alphabet CEO Sundar Pichai. On the same day, legendary engineer Jeff Dean announced his departure from Google, taking with him Sanjay Ghemawat, Oriol Vinyals and Quoc Le to co-found a company named Discovery Loop. The team aims to leverage AI to automate the full scientific research workflow: from question formulation, experiment design, execution to result evaluation. Google participated in the company’s seed round investment, will act as its cloud provider, and provide first-year computing power support. For this top research team that has decided to launch their own venture, Google chose not to force retention, instead maintaining capital, cloud service and research collaboration partnerships. According to market data from BIT (bit.com), the market reacted swiftly to the news. Alphabet’s stock price dropped more than 5% intraday, closing down 4.03% at the regular session close. It rose 0.57% in after-hours trading, trading at $364.49.
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.
Crypto exchange Luno is reportedly cutting about 20% of its global workforce as it restructures operations and shifts more resources toward institutional clients, financial infrastructure and business-to-business services.
According to a Bloomberg report on Tuesday, Luno CEO James Lanigan said the company had invested in automation and broader operational improvements that changed the resources needed to run the business. Luno will also trim costs in line with market conditions while investing in compliance, core infrastructure and retail products.
Luno has previously made larger workforce reductions. In January 2023, the exchange cut 35% of its staff, nearly 330 employees, as turbulence across the technology and crypto sectors weighed on its growth and revenue.
Founded in South Africa and owned by Digital Currency Group, Luno serves about 16 million users across Africa and the Asia-Pacific region. The company has expanded beyond retail trading into infrastructure and institutional services, including providing crypto infrastructure for banks and fintech firms.
Luno’s rationale for the layoffs reflects a wider industry trend, with several crypto companies citing AI, automation and operational efficiency when cutting staff.
Crypto layoffs spread across industryJobs tracker CryptoJobsList recorded layoffs or restructurings at 12 crypto and crypto-adjacent companies . CryptoJobsList has tracked more than 7,254 disclosed job cuts across 47 companies in 2026, with market conditions cited most often as the reason.
The data serves as a broad industry indicator rather than a definitive crypto-only total, as it includes adjacent financial technology companies and is heavily skewed by Block’s 4,000-person reduction in February.
Layoffs by month. Source: CryptoJobsList
Earlier in July, crypto wallet company Exodus announced plans to cut 25% of its staff while reorganizing around a full-stack card-issuance and stablecoin-payments platform. Exodus said the move could produce between $10 million and $13 million in annual operating savings.
On Tuesday, blockchain infrastructure developer Gnosis invited companies hiring across engineering, product, design, marketing, developer relations and customer relations to contact it for introductions to former employees affected by a recent restructuring. The company said on July 17 that it had reduced its workforce following a review of its consumer-facing Gnosis App.
Magazine: Ethereum risks losing No. 2 spot as stablecoins gain ground
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
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.
According to monitoring by Onchain Lens, a whale address withdrew 16 million ENA tokens (valued at approximately $1.37 million) from a Gnosis multi-sig wallet, then transferred the tokens to Binance, likely preparing to sell.
Relevant content
The Nasdaq 100 index extended its gain to 2%.
According to market data from BIT (bit.com), the Nasdaq 100 Index’s gain widened to 2%, hitting a new daily high. Its constituent stocks posted the following increases: Nebius rose 16.1%, SanDisk gained 13.2%, Teradyne climbed 13.1%, Micron advanced 13%, Western Digital increased 12.8%, Seagate Technology rose 11.5%, while Lumentum and CoreWeave each gained 9.3%.
6 hours ago
US Secret Service conducts special operation against cyber fraud, seizes over $25 million in cryptocurrency assets.
According to official announcements, the U.S. Attorney’s Office for the District of Columbia and the U.S. Secret Service Washington Field Office jointly announced today that multiple investigations conducted by their joint cyber fraud task force have seized over $25 million in cryptocurrency assets. The assets are linked to an international fraud network targeting residents of the U.S. and Canada, and are part of the more than $800 million in illicit assets cumulatively recovered by the U.S. Department of Justice’s Fraud Center Strike Force, which was established in 2025.
6 hours ago
SpaceX’s massive lock-up period is approaching, with over $100 billion worth of its stock set to become tradable.
According to Bloomberg, SpaceX has kicked off one of the largest stock lock-up expirations in capital market history, with up to $116 billion worth of shares becoming eligible for sale for the first time next month. The restriction barring insiders from selling up to 911.5 million shares will expire on August 6, two days after the rocket, satellite and artificial intelligence firm releases its first quarterly earnings report. This is just the start; billions of shares will become tradable by the end of this year.
6 hours ago
Analyst: European Central Bank expected to hold interest rates steady this week and maintain a hawkish bias.
Nuveen global investment strategist Laura Cooper said in a report that following June’s interest rate hike, the European Central Bank (ECB) will likely hold interest rates steady at this week’s meeting while maintaining a hawkish stance. Cooper noted that if renewed tensions drive energy prices higher, the ECB will remain open to further policy tightening. She added that inflation is milder than feared, the Purchasing Managers’ Index (PMI) pricing subindex shows almost no signs of reaccelerating, and producer price data confirms upstream cost pressures are easing. “These factors provide a reason for holding steady this month,” she said. The complication is that commodity supplies are being disrupted again, which could reignite energy price pressures just as the ECB gains confidence in its inflation decline path.
6 hours ago
US crypto-related stocks rose broadly, with Coinbase surging more than 12%.
According to market data from BIT (bit.com), crypto-related stocks in the US equities market rallied across the board during intraday trading: Circle (CRCL) rose 7.28%, MARA gained 6.56%, Sharplink (SBET) climbed 2.52%, Robinhood (HOOD) advanced 8.34%, Bullish (BLSH) increased 7.71%, Coinbase (COIN) jumped 12.15%, and Strategy (MSTR) rose 4.65%.
6 hours ago
Trump: Our issues with Iran are far from over.
US President Donald Trump said: "Our situation with Iran is far from over. We will not withdraw now and have already exerted significant influence on Iran. Our agreement will not allow Iran to possess nuclear weapons."
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.
An unnamed whale has been steadily adding to its WBTC and ETH positions this month, now sitting on over $12 million in unrealized gains.
According to on-chain analyst Ai Yi (@ai_9684xtpa), a whale that has accumulated over $109 million in positions since July added an additional $9.87 million worth of WBTC in the past 24 hours. The whale currently holds 49,500 ETH and 600 WBTC, with a total value of $122 million, an average cost basis of approximately $1,706 per ETH and $63,950 per WBTC, and an unrealized profit of $12.593 million.
5 minutes ago
Arcus Launches 24/7 US Stock Tokens and Perpetual Contract Markets on the Robinhood Chain
Arcus has officially launched 24/7 trading functionality and rolled out over 95 stock tokens on Robinhood Chain, offering zero-fee trades. Meanwhile, the platform also launched a beta version of its perpetual contract market via its self-custody decentralized exchange. In a statement, Arcus noted that the launch will allow eligible traders to invest in stocks of leading companies spanning sectors including artificial intelligence, semiconductors, space exploration and quantum computing, such as large-cap firms like Nvidia, Apple, Microsoft, Tesla, Meta, Alphabet and Amazon. Additionally, Arcus has launched a beta perpetual futures trading market, which currently has over 75,000 people on its waitlist. The platform supports perpetual contract products covering U.S. stocks, exchange-traded funds (ETFs), commodities and cryptocurrencies, including trading pairs linked to the SPY ETF, QQQ ETF, GLD ETF, USO ETF, Bitcoin, Ethereum, Solana and XRP. Arcus was founded by Eddie Zhang, with its development team coming from the core team behind dYdX.
5 minutes ago
SemiAnalysis: The power gap in AI data centers is widening, and reciprocating engines may become the leading technology for behind-the-meter power supply.
Independent semiconductor and AI research firm SemiAnalysis reports that the rapid growth in AI computing power demand is transforming power supply models for data centers. Reciprocating engines, historically used primarily as backup power during grid outages, are being repositioned as baseload power sources operating around the clock. This year, reciprocating engine manufacturers have signed contracts for roughly 1GW of behind-the-meter (BTM) power projects, with annual new supply volumes projected to exceed 4GW in 2027 and 2028. After modeling U.S. grid capacity, SemiAnalysis notes that existing power reserves are expected to be exhausted between 2027 and 2028, and planned additions to utility-scale power generation capacity through 2030 remain insufficient to meet the new load demand from data centers. Combining its data center model, SemiAnalysis estimates that roughly 140GW of potential data center projects have not yet finalized power supply contracts, and many of these will likely adopt behind-the-meter power models to bypass grid expansion bottlenecks. Among behind-the-meter power technologies including reciprocating engines, aeroderivative gas turbines, and fuel cells, SemiAnalysis projects reciprocating engines will capture the largest market share. The firm cites their combination of low cost, rapid deployment, modular scalability, and stronger financing capabilities as key advantages, while equipment manufacturers including Caterpillar, INNIO, and Cummins are expanding production capacity to support large-scale deployments in the coming years. As AI data centers continue to expand, on-site self-generated power is evolving from a traditional backup resource to critical energy infrastructure, and reciprocating engines are poised to become a key solution for bridging power gaps in the computing power era.
5 minutes ago
Venezuela’s largest fintech firm Cashea completes $100 million funding round.
According to Bloomberg, Venezuela’s largest fintech company Cashea has raised a total of $100 million across two financing rounds. Global investors are betting on the firm’s ability to achieve growth in a market long plagued by credit constraints. Cashea announced it closed a $60 million Series B round in June, led by FinSight Ventures, with participation from Endeavor Catalyst, Plug and Play, U.S. university funds including Washington University in St. Louis, and Latin American investors. Earlier, Cashea completed a $40 million Series A round in March, led by Spice Expeditions. The round included $20 million in equity financing and $20 million in debt financing provided by Architect Capital.
5 minutes ago
WTI crude oil's intraday gain has widened to 3%.
Per Bitget's market data, WTI crude oil's intraday gain has widened to 3%, now trading at $85.40 per barrel. Brent crude oil climbed 2.16% to $89.4 per barrel.
5 minutes ago
Ionic Digital to list on Nasdaq on July 28 under stock ticker IOND.
Ionic Digital expects its shares to begin trading on the Nasdaq Global Select Market on July 28, after the U.S. Securities and Exchange Commission (SEC) declared its registration statement effective, clearing the final major regulatory hurdle for the company’s long-planned listing. According to a company statement, Ionic’s stock ticker will be “IOND”. The firm opted for a direct listing rather than a traditional initial public offering (IPO), meaning it will not issue new shares nor receive any proceeds from the transaction; instead, existing registered shareholders will be able to sell their holdings on the public market. Ionic was originally formed to take over Bitcoin mining assets from the Celsius estate, before pivoting to position itself as a broader digital infrastructure company serving artificial intelligence (AI) and high-performance computing (HPC) workloads. The company first submitted its Form S-1 registration statement earlier this month. Ahead of the listing, Ionic has raised roughly $400 million to support data center construction and fuel its business shift from Bitcoin mining to a wider digital infrastructure focus.
If you’ve ever used Etherscan to check a transaction, verify a contract, or build a dApp that pulls on-chain data, you’ve relied on infrastructure that most people treat like tap water: always available, always free. That assumption is starting to crack.
Etherscan has moved Gnosis Chain out of its free API tier, pushing developers who need full indexing and API functionality toward paid plans. And by August 11, 2026, the dedicated Gnosisscan platform itself faces deprecation, meaning the shift to Pro-tier access isn’t a temporary inconvenience. It’s the new default.
What changed and why it matters As of November 22, 2025, Etherscan reduced its free API tier coverage to roughly 90% of previously supported chains. The reason is straightforward: higher transaction speeds, growing TPS rates, and sheer transaction volume across networks have pushed operational costs to a point where free universal coverage is no longer sustainable.
Gnosis Chain, identified as chain ID 100, is one of the networks that fell outside that 90% cutoff. Developers and applications that previously queried Gnosis data through Etherscan’s free endpoints now need to upgrade to a paid tier for continued access.
Advertisement
Verified contract endpoints, including source code and ABI data, remain free across all chains, Gnosis included. But if your application relies on transaction history, token transfers, event logs, or any of the heavier indexing work, that’s now behind a paywall.
To soften the blow, Etherscan introduced a new Lite plan priced at approximately 25% of the cost of its previous lowest paid tier.
The Gnosisscan deprecation timeline Etherscan plans to deprecate Gnosisscan entirely on August 11, 2026. After that date, any remaining free-tier access points specific to Gnosis will redirect users toward Pro-tier subscriptions.
This creates a clear decision point for any project built on Gnosis Chain. Either budget for Etherscan’s paid plans, or migrate to an alternative indexer before the deadline arrives.
Alternatives and the competitive landscape Blockscout, an open-source blockchain explorer, has been positioning itself as an alternative for multichain indexing. It already supports a wide range of EVM-compatible networks, and the Gnosis community has historically maintained its own Blockscout instance.
What this means for developers and investors For developers, the immediate action item is auditing any application that calls Etherscan’s API for Gnosis Chain data. If your dApp, dashboard, or analytics tool relies on those endpoints, you need to either subscribe to the Lite or Pro plan, or begin integrating with an alternative indexer like Blockscout before the deprecation deadline.
The Lite plan at 25% of the prior lowest tier’s cost offers a middle ground, but teams should evaluate whether that tier includes the specific endpoints and rate limits their applications require.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Before correcting somewhat, Gnosis [GNO] climbed by 13% in just 24 hours. In fact, it recorded a rally that hinted at whether the token can flip one of the market’s leading memecoins, BONK, by market capitalization.
Such a flip would lift Gnosis to the 100th spot among tokens by market capitalization. At the time of writing though, Gnosis held a market cap of $303.88 million against BONK’s $330.07 million.
And yet, despite it being close enough to tempt a flip, yet Gnosis may ease into consolidation and not mount it just yet.
Structural warnings surface for Gnosis At the time of writing, indicator-based analysis suggested that Gnosis has moved into overvalued territory and may struggle to sustain its rally in the near term.
The first signal came from the price pushing into the upper Bollinger Band (BB). The indicator gauges valuation by price position as while a move above the red upper band points to overvaluation, a drop below the lower band signals undervaluation.
Source: TradingView The price typically retreats after tagging the upper band, often sliding back towards the middle band, which sat at $112.91 in this case. Should that level hold as support, the rebound could resume from there.
Stronger sell pressure, however, could drag the price down to the green lower band at $103.41 before any renewed push towards a fresh high. Lately though, capital has continued to retreat, a sign that sellers remain active.
The Money Flow Index (MFI), which tracks capital moving in and out of an asset, plunged sharply for Gnosis too, pointing to heavier outflows than inflows.
Spot netflow steers GNO’s rally CoinGlass data revealed that spot activity has been dictating the direction of Gnosis, with derivatives playing little part in the move.
The spot read hinted at heavy profit-taking as Gnosis surged over the past day, with $1.19 million sold into the rally. Buyers failed to keep pace, tipping the balance into a net-seller market and leaving netflow near negative $246,000.
Source: CoinGlass That reads as classic profit-taking, though a widening netflow from here would leave Gnosis with slim odds of a rebound.
A more constructive read was evident on the seven-day netflow though where sellers held only a $283,000 edge even as the price gained 17% over the same stretch. If that dynamic repeats, any decline would likely amount to a temporary pullback before the advance resumes.
What does GNO need to flip BONK? Assuming BONK’s market cap holds at $330.07 million—unlikely in a moving market—a somewhat significant hike in the price of Gnosis would complete the flip. As it stands, closing the aforementioned gap would require GNO to climb to $125.48.
However, this move may only materialise once the price settles into a support region or reverses beforehand.
Final Summary Gnosis needs only a small price hike to overtake BONK and claim the 100th spot by market value. Momentum indicators indicated that any move higher may stall or pull back before a flip actually happens.
Gnosis Pay has released a comprehensive postmortem detailing a security breach that compromised its card safe infrastructure on June 1, 2026. Though the hackers took about $1.5 million worth of digital assets from the decentralized self-custodial payment network, it has stated that all those affected have been completely compensated, and it will absorb the financial losses.
Gnosis Pay Identified Root Cause Within Two Hours The report, released Friday, details the events of the attack, the technical flaw that allowed the attack to happen, and the steps taken to restore service and enhance security. The post-mortem stated that the first big unauthorized transfer was spotted by the Gnosis Pay monitoring systems, run by treasury manager NOCA, at 06:17 UTC on June 1. The company claimed that its engineering team was able to determine the cause of the incident in just two hours after the first warning.
On 1 June, Gnosis Pay experienced a security incident affecting card accounts. All affected balances were restored.
Post-mortem here: https://t.co/2QZhQG4ndr
— Gnosis Pay 💳 (@gnosispay) July 3, 2026
After the discovery, GNOSIS Pay immediately suspended the card services and temporarily halted the bridge to GNOSIS Chain and provided wallet addresses of attackers to stablecoin issuers to help identify assets that have been stolen. The company also notified external projects that might be impacted by the vulnerability.
The restoration of the funds was carried out in stages over a period of days by Gnosis Pay. The company has activated the first impacted accounts by the night of June 3 and returned balances and payment cards. Newly designed, card-safe modules were then progressively installed to restore full access for 99% of users by June 6. The remainder was put right up shortly thereafter.
Gnosis Pay Announces Broad Security Improvement Measures The company said there were no financial losses, as the entire loss was covered by the company’s Gnosis Pay platform. This is done by taking advantage of two components within the card safe infrastructure of Gnosis Pay, the Delay Module and the Roles Module, the report said.
The investigation revealed that the vulnerability was present since October 30, 2023, in the Zodiac version 3.4.0.
They gained control of approximately $1.5 million worth of various assets, mainly GNO, EURe, USDC.e, and other tokens. An extra around $300,000 was not immediately available, but recovery efforts continue. A total of 5,281 wallets with wallets of at least $1 were impacted in the incident. The company also revealed the attacker address used in the exploit, which is 0x5a7…7a35.
The Gnosis Pay hack adds to a growing list of smart contract exploits drawing scrutiny from institutional observers. Amid rising security concerns across DeFi payment infrastructure, Front-Running Fixes Proposed for XRP Ledger are gaining traction, highlighting that even major blockchain networks are tightening their on-chain transaction controls in response to the same class of vulnerabilities that hit Gnosis Pay.
Gnosis Pay has revealed that a software flaw dating back to October 2023 enabled the $1.5 million exploit of its card safe infrastructure, while confirming that all affected users have been fully reimbursed.
Summary
Gnosis Pay traced its $1.5 million hack to a Zodiac software flaw that had existed since October 2023. The company reimbursed all affected users, restored services within days, and continues recovering about $300,000. The incident adds to growing scrutiny of crypto security as firms and governments respond to rising cyber threats. According to a postmortem published by Gnosis Pay on Friday, the vulnerability was traced to version 3.4.0 of the Zodiac smart contract framework and had remained undiscovered since Oct. 30, 2023.
The company said the weakness was exploited on June 1, allowing attackers to gain control of about $1.5 million in digital assets held across its decentralized self-custodial payment network.
The report states that Gnosis Pay’s monitoring systems, operated by treasury manager NOCA, detected the first unauthorized transfer at 06:17 UTC on June 1. Engineers identified the root cause within two hours of the initial alert, after which the company suspended card services, temporarily halted its bridge to Gnosis Chain, and shared attacker wallet addresses with stablecoin issuers to help trace the stolen funds. Gnosis Pay also notified external projects that could have been exposed to the same vulnerability.
On 1 June, Gnosis Pay experienced a security incident affecting card accounts. All affected balances were restored.
Post-mortem here: https://t.co/2QZhQG4ndr
— Gnosis Pay 💳 (@gnosispay) July 3, 2026 Funds restored after staged recovery Following the incident, Gnosis Pay restored customer access in several phases. The company said the first affected accounts regained access to their balances and payment cards by the night of June 3 after new card-safe modules had been deployed. Installation continued over the following days, restoring service for 99% of users by June 6, while the remaining accounts were recovered shortly afterward.
Gnosis Pay said it absorbed the financial losses itself, leaving customers with no losses from the exploit. According to the postmortem, the attackers stole mostly GNO, EURe, USDC.e, and several other digital assets. The company added that roughly $300,000 worth of assets had not yet been recovered and recovery efforts remain ongoing.
The report also disclosed that 5,281 wallets holding at least $1 were affected by the exploit. Gnosis Pay published the attacker’s wallet address used during the incident, identifying it as 0x5a7…7a35, while explaining that the exploit targeted two components within its card safe infrastructure, the Delay Module and the Roles Module.
Smart contract exploits continue to pressure crypto platforms The disclosure comes as security incidents continue to affect crypto infrastructure providers. As crypto.news reported earlier, Humanity Protocol recently confirmed it is repositioning toward enterprise artificial intelligence products after a $36 million exploit accelerated an internal restructuring that had already been under consideration for several months.
During an interview, Humanity Protocol founder Terence Kwok said the company had been reviewing its long-term direction for six to nine months before the breach. He explained that the exploit sped up those plans, while adding that digital identity will remain central because enterprise AI systems will require reliable ways to verify people and credentials.
Meanwhile, concerns over crypto-related cybercrime have also reached government leaders. Earlier, G7 leaders issued a joint statement after their summit in Evian-les-Bains, France, calling for coordinated action against North Korea’s cryptocurrency thefts and cybercrimes.
The statement linked the issue to long-standing concerns that stolen digital assets have helped finance Pyongyang’s nuclear and ballistic missile programs under international sanctions, a claim repeatedly supported by Western governments and blockchain analytics firms.
On 1 June 2026, attacker(s) exploited a vulnerability that directly affected software modules (Delay Module & Roles Module) used in connection with the Gnosis Pay card safe infrastructure. This resulted in certain user safe wallets, and the funds stored there, either being compromised or at risk of compromise.
The team quickly contained the issue, taking card services offline and co-ordinating with partners to isolate attacker accounts, while keeping partners and users informed, and guaranteeing user funds.
The attacker(s) were able to extract a total of $1.5m. An additional ~$300k was rendered inaccessible and we are exploring recovery options.
Gnosis absorbed the losses and all funds were restored to users.
The TimelineWhenWhat1 Jun 2026
Monitoring flagged the attacker's first large unauthorized transfer at 06:17 UTC and, following verification, the emergency response was initiated.
Root cause identified as a vulnerability in the Zodiac modules at 08:06 UTC.
1 Jun 2026
Card services taken offline. Bridge to Gnosis Chain paused by bridge validators. Attacker-linked addresses shared with stablecoin issuers to isolate where possible.
1–2 Jun 2026
Gnosis leadership proactively notified external projects that were at risk from the same vulnerability.
The Zodiac modules were repaired and shared with ChainSecurity for a focused review.
3 Jun 2026
On the evening of Wednesday, June 3rd, the first accounts were reactivated, including account balance restoration, card re-enabling, and resumption of normal operations.
An emergency fund was established and made available for users in extremis.
4 Jun 2026
ChainSecurity completed their review, the modules were also reviewed by internal teams, and we began the phased resumption of services.
4–7 Jun 2026
We deployed newly engineered card safe modules in tranches, linking to users' existing profiles. This was followed by phased restoration of full account balances and resumption of normal services.
6 Jun 2026
Full services restored to 99% of users, with the remaining accounts restored early the following week.
No users lost funds in the exploit.
Description of the ExploitThe attack was rapidly detected by treasury manager, NOCA, via their monitoring infrastructure. We immediately triggered our incident response protocol and identified the root cause within 2 hours.
The impact was isolated to the card safe software module components (specifically the Delay and Roles Modules provided by Zodiac). To ensure containment during the active triage phase, we systematically paused card transaction processing, authorisation systems, and new user onboarding.
To let an account owner move funds without holding native gas tokens, the account confirms requests with a signature check. It uses a standard method, ERC-1271, which asks a contract a yes-or-no question: is this signature valid?
The check read the answer the contract returned. It did not check whether the call had succeeded. Attacker(s) could deploy a contract that fails on purpose while still returning the "valid" code. To the account, a forged approval looked real. That let the attacker(s) queue withdrawals from accounts they did not own.
The vulnerability entered the Zodiac code in version 3.4.0, released on 30 October 2023, when signature support was added (commit 9a9e380).
The flawed check worked like this:
The fix is small. Also require the call to succeed:
The initial exploit contract is verifiable here: 0x5a77953caa27ed4638f4dfdc665b8064d0e97a35.
A signature patch was flagged as a security fix by the Zodiac team on 5 June 2026 (days after the exploit began).
The Amounts InvolvedAmountTaken by the attacker(s)
~$1.5M
Funds in inaccessible accounts
~$300k
Total
~$1.8M across 5,281 wallets with balance ≥ $1
Assets taken by the attacker(s):
AssetTaken (USD value)GNO
641,159
EURe
453,175
USDC.e
399,121
SAFE
2,202
WETH
323
xDAI
135
USDC
28
USDT
7
Total
~1,496,151
Actions Now UnderwayGrowing the security team.
We are growing the security team and bringing in external researchers to work alongside them, adding dedicated capacity.
Conducting a full internal review of our security practices.
We have an ongoing review of onchain and offchain systems: smart contracts, infrastructure, processes, and dependencies we rely on.
Completing an independent, holistic security assessment.
We are re-assessing our codebase and infrastructure end-to-end with an external security firm, giving us an outside perspective.
Widening our audit scope.
We have extended our smart contract audits to also cover external contracts we depend on.
Actively monitoring dependencies.
We actively monitor the dependencies we rely on, with a clear process to review and act on upstream security fixes quickly.
Rolling out the new Gnosis Pay product (known internally as v2).
We recently completed a full rebuild of the Gnosis Pay product and it is optimized for observability and streamlined operations. That observability ensures our ability to respond rapidly in future.
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.
Prediction markets are becoming one of the fastest-growing segments in crypto. As traders search for alternatives to traditional token speculation, platforms that allow users to forecast real-world outcomes are attracting new users, liquidity, and institutional interest.
The sector is benefiting from several powerful trends. Artificial intelligence is improving forecasting models, decentralized finance is expanding participation, and users are increasingly looking for ecosystems that generate activity beyond simple token trading.
For investors searching for the top prediction market crypto coins to buy in June 2026, four projects stand out: Rain (RAIN), Gnosis (GNO), Limitless (LMTS), and MemeToro ($MT).
Each approaches prediction markets differently, creating a diverse set of opportunities within the growing sector.
Rain (RAIN) Continues Leading the Prediction Market Sector Rain has emerged as one of the strongest-performing prediction market crypto projects this year.
While much of the altcoin market struggled with volatility, Rain gained nearly 9% over the past week and continued attracting users to its forecasting infrastructure. The project’s total value locked has expanded beyond $142 million, highlighting growing confidence in the platform.
One factor driving adoption is the increasing role of AI-powered forecasting systems.
Automated agents are using Rain’s infrastructure to create and participate in prediction markets, helping increase transaction activity and liquidity. At the same time, the protocol has permanently removed more than 143 million RAIN tokens from circulation, strengthening its tokenomics.
Current projection models continue targeting the $0.02 area over the coming months, making Rain one of the most closely watched prediction market crypto projects today.
Gnosis (GNO) Remains a Veteran Prediction Market Name Few projects have stronger roots in prediction markets than Gnosis.
The platform helped pioneer decentralized forecasting long before prediction markets became a major crypto narrative. Today, Gnosis remains an important infrastructure layer within the sector.
Recent market conditions have not been easy.
Like many altcoins, GNO has faced pressure from broader liquidations across crypto markets. However, the project continues defending a critical long-term support zone while remaining above its 200-day moving average.
This has encouraged many investors to view the current environment as an accumulation phase rather than a breakdown.
For those seeking exposure to a more established prediction market ecosystem, Gnosis remains one of the most recognizable names in the category.
Limitless (LMTS) Offers Early-Stage Prediction Market Exposure Limitless takes a different approach.
Unlike Rain and Gnosis, the project remains much earlier in its development cycle. As a micro-cap asset, Limitless has experienced tighter liquidity conditions during recent market uncertainty.
That reality creates both risks and opportunities.
The project is currently navigating a period of price discovery while investors wait for upcoming protocol milestones that could influence adoption and transaction activity. Because of its smaller size, Limitless has greater sensitivity to market sentiment than larger competitors.
Many traders continue monitoring the platform closely because successful execution could significantly increase visibility within the prediction market sector.
However, it remains a higher-risk opportunity compared with more established alternatives.
How MemeToro Brings Prediction Markets Into SocialFi MemeToro approaches prediction markets from an entirely different angle.
Instead of operating solely as a forecasting platform, the project integrates prediction markets into a larger AI-powered SocialFi ecosystem. This creates multiple participation layers that extend beyond forecasting alone.
Users can enter decentralized prediction markets using both $MT and BNB while forecasting outcomes across crypto, sports, entertainment, and global events. These markets sit alongside several other ecosystem products designed to encourage ongoing engagement.
This broader ecosystem model differentiates MemeToro from traditional prediction market protocols.
Breaking Down the MemeToro Utility Stack Prediction markets represent only one component of the MemeToro platform.
The ecosystem also includes an AI-powered memecoin creation engine that allows users to launch assets through an automated no-code system. Artificial intelligence continuously monitors social trends, cultural developments, and market narratives to identify emerging opportunities.
The platform further supports participation through staking rewards of up to 35% APR and integrated market intelligence tools.
Stage 2 of the MemeToro presale has already surpassed 92% completion, raising more than $72,955 toward its current target. Once the stage concludes, the token price will increase from $0.00139 to $0.00154.
To support structural stability, marketing and partner tokens undergo a 24-month vesting schedule. Presale purchases are completely exempt from vesting and are entirely distributable on the launch date. Verified holders can participate in the network’s staking mechanism, which currently offers up to 35% APR in programmatic rewards.
More Information on MemeToro ($MT) Presale Here:
Website: https://memetoro.com/
X: https://x.com/memetoro_mt
Telegram: https://t.me/memetoro_mt
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
While many altcoins continue struggling with weak sentiment and declining liquidity, prediction-focused platforms are benefiting from growing demand for forecasting tools, decentralized information markets, and AI-assisted decision-making systems.
Investors increasingly view prediction protocols as more than simple betting platforms. These ecosystems create recurring engagement, attract active users, and often generate sustained on-chain activity regardless of broader market conditions.
Among the projects attracting the most attention before July 2026 are Rain (RAIN), MemeToro ($MT), and Gnosis (GNO). Each offers a different approach to prediction markets, making them some of the most closely watched prediction tokens in the current market environment.
Rain Continues Delivering Strong On-Chain Growth Rain has emerged as one of the standout performers in the prediction market sector.
Unlike many cryptocurrencies that remain heavily tied to broader market sentiment, Rain has shown signs of decoupling from wider crypto weakness. The token recently climbed 8.7% to approximately $0.0161 while maintaining steady user growth across its ecosystem.
The platform’s fundamentals help explain that performance.
Rain’s total value locked has expanded to more than $142 million, reflecting rising participation and growing confidence in its infrastructure. At the same time, more than 143 million RAIN tokens have been permanently removed from circulation through token burns.
Another important factor is artificial intelligence.
The protocol is increasingly being used by AI-powered forecasting systems that require reliable prediction infrastructure. This trend has helped drive transaction activity and contributed to Rain’s growing market relevance.
Many analysts continue targeting the $0.02 region over the coming months if current growth metrics remain intact.
Gnosis Focuses on Stability During Market Volatility Gnosis represents a very different type of prediction market investment.
Unlike newer platforms chasing rapid expansion, Gnosis has spent years establishing itself as one of the foundational names in decentralized forecasting. The project remains closely associated with prediction markets despite evolving into a broader infrastructure ecosystem.
Recent market conditions have tested many long-term projects.
The broader altcoin selloff and the fallout from the MemeCore collapse created pressure across multiple sectors. However, Gnosis has largely focused on maintaining stability rather than pursuing aggressive growth initiatives.
Technical indicators show the asset continuing to defend important long-term support levels and multi-month moving average zones.
For investors prioritizing maturity and resilience over rapid expansion, Gnosis remains one of the most established prediction-focused assets in crypto.
MemeToro Combines Prediction Markets With AI and SocialFi MemeToro enters the prediction market category from a different direction.
Rather than functioning as a dedicated prediction protocol, the platform integrates prediction markets into a much larger AI-powered SocialFi ecosystem. This creates multiple forms of engagement while maintaining prediction markets as a core utility layer.
The project operates on BNB Chain and centers around behavioral finance, community participation, and artificial intelligence. Users can participate in prediction markets using both $MT and BNB while forecasting outcomes across cryptocurrency, sports, entertainment, and major global events.
This broader ecosystem model allows the platform to attract users interested in more than forecasting alone.
As a result, prediction markets become part of a wider participation framework.
Inside the MemeToro Ecosystem Prediction markets are only one component of the MemeToro platform.
The ecosystem also includes an AI-powered memecoin creation engine that enables users to launch tokens through a no-code deployment process. Artificial intelligence continuously analyzes social conversations, cultural trends, and market narratives to identify emerging opportunities.
Participants can also access staking opportunities offering rewards of up to 35% APR. Combined with integrated trend-monitoring tools and SocialFi mechanics, these features create multiple reasons for users to remain active inside the ecosystem.
The native $MT token powers every major function across the platform. This integrated structure has helped differentiate MemeToro from standalone prediction market projects.
MemeToro Project Update: Stage 2 Presale Nears Completion The MemeToro Stage 2 presale has reached 92.82% of its target, having raised $72,955.51 of the allocation’s $78,590.46 goal. Upon completion of this round, the $MT token price will transition from the current rate of $0.00139 to the Stage 3 rate of $0.00154.
Operating on the BNB Chain, the MemeToro platform integrates four core functionalities under a single ecosystem:
An AI agent that creates memecoins based on live trending data. Prediction markets for wagering on real-world events. An online casino that utilizes $MT tokens natively. A staking system offering up to 35% APR. The $MT token has a fixed total supply of 1.2 billion, with 71% assigned to the presale with no vesting restrictions. The platform currently accepts payments via credit/debit card, ETH, BNB, USDT, and USDC at memetoro.com.
More Information on MemeToro ($MT) Presale Here:
Website: https://memetoro.com/
X: https://x.com/memetoro_mt
Telegram: https://t.me/memetoro_mt
Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data!
Binance will delist the IPUSDT and IPUSDC USDT-margined perpetual contracts due to the rebranding of the Story brand.
Per an official announcement, following the rebranding of the Story (IP) brand to Data Network, Binance will automatically liquidate IPUSDT and IPUSDC U-margined perpetual contracts at 17:00 CST (UTC+8) on June 28, 2026, and remove these perpetual contract trading pairs after liquidation concludes. Users are advised to close their positions voluntarily before trading is suspended to avoid automatic settlement of their positions. Starting from 16:30 CST (UTC+8) on June 28, 2026, users will no longer be able to submit new non-reduce-only orders for the aforementioned perpetual contracts. A separate announcement will be released when the new contract goes live.
37 minutes ago
Sources: Israeli military withdrawal from Lebanon is an important "red line" for Iran.
Local time on June 25, a source close to the negotiation team said that Israel's withdrawal from Lebanese territory is one of the conditions for a final Iran-US agreement, and is regarded as an important "red line" by Iran's negotiation team. The source further stated that the final memorandum of understanding will guarantee Lebanon's sovereignty and territorial integrity. The agreement text previously reached in Switzerland already emphasized a "conflict resolution mechanism" that is participated in and uniformly implemented by Iran. Iran is currently following up on the specific implementation timeline. (CCTV)
37 minutes ago
Apple's stock price fell by 6%, marking its largest decline since April 2025.
According to Bitget's market data, Apple's stock price fell by 6%, marking its largest decline since April 2025.
37 minutes ago
Analyst: Bitcoin falls below $60,000, but institutions and whales are not continuing to bet on further declines.
Greeks.live macro researcher Adam posted on X: "Tomorrow is the quarterly expiry, and Bitcoin has dipped below $60,000. As seen in the GEX chart, $60,000 is clearly the highest open interest price point. Meanwhile, large positions are also starting to accumulate at $58,000 and $59,000, signaling rising market risk. Institutional investors and major holders have not continued to bet on a downward move; they are just waiting for the expiry."
37 minutes ago
TD Cowen Analyst: SpaceX May Acquire T-Mobile
TD Cowen analysts said SpaceX could acquire T-Mobile to accelerate its wireless communication ambitions if a network sharing agreement cannot be reached. The report points to Starlink’s existing partnership with T-Mobile US as a strategic fit. This idea is purely speculative, but it underscores the growing competitive pressure the space exploration firm faces in the telecom industry.
PeckShield, a blockchain security company, has warned that Gnosis's official X account has been compromised. Until the issue is fixed, users are strongly advised not to interact with any posts, links, reward campaigns, voting announcements, or wallet connection requests coming from the account.
According to the malicious post that is currently up on the Gnosis account, Gnosis users can take part in a rewards vote and receive an early bonus if they vote within the first 24 hours. This is a classic phishing technique meant to instill a sense of urgency and coerce users into clicking on phony links before confirming their legitimacy.
One of the most common attack methods in the cryptocurrency sector is still compromised social media accounts. Hackers frequently use reputable project accounts to advertise phony staking opportunities, token claims, governance votes, and airdrops. Funds can be depleted in a matter of seconds after victims connect their wallets and sign malicious transactions.
You Might Also Like
HOT Stories
Do not interact with the compromised account if you use Gnosis. Never sign transactions, connect your wallet, click links, or divulge personal information. If users have already interacted with the phishing website, they should revoke wallet approvals right away and, if necessary, transfer assets to a secure wallet.
Industry experts predict that the Strategic Ethereum Reserve (SER), which tracks entities holding Ethereum (ETH) in their treasuries, could surpass 10 million ETH by May 2026.
This would represent an increase of approximately 1,166.3% from the current holdings, reflecting a continued accumulation trend and growing confidence in Ethereum as a store of value.
Strategic Ethereum Reserve Poised to Hit 10 Million ETHAccording to the latest data from the SER website, the reserve currently holds 789,705 ETH, spread across 23 active participants, including major institutions and governments. It represents a collective effort by various entities to stockpile ETH over time.
The Ethereum Foundation leads with 265,343 ETH, followed by Coinbase with 137,334 ETH. Other notable entities include Golem Foundation (100,765 ETH), Gnosis DAO (66,587 ETH), the US Government (59,965 ETH), and others. At current prices, the total holdings are valued at approximately $2.1 billion.
Notably, Anthony Sassano, founder of The Daily Gwei, expressed strong confidence in the SER’s growth trajectory. In a statement on X, Sassano predicted that the reserve could surpass 10 million ETH by May 2026.
“Today, it’s under 1 million ETH in the reserve. In a years time, I bet it’s firmly over 10 million ETH in the reserve. The gold rush for ETH is going to be absolutely insane,” Sassano predicted.
Similarly, another analyst echoed this sentiment, labeling the SER a “black hole for ETH.” He anticipates that protocols, decentralized autonomous organizations (DAOs), treasuries, and Layer 2 solutions will increasingly compete to stake, restake, and accumulate ETH, potentially locking up over 10 million ETH in the coming years.
“This is how a monetary asset goes parabolic slowly, then all at once,” the analyst said.
Meanwhile, Ethereum proponent Shingen referenced a recent essay on SER. He noted that the reserve is still in its early stages with limited participation, but highlighted the essay’s narrative-building potential.
“It’s just the beginning, the amount is small, and it’s just a definition of what was originally an individual movement, but when you read this article, it’s written in a very emotional way, and when you think about it, it’s quite important in terms of creating a narrative. It’s also good that it’s not centered around listed companies,” Shingen wrote.
In the essay, the author reflected on how the Strategic Ethereum Reserve impacts the Ethereum ecosystem. The author emphasized that SER strengthens security by increasing staked ETH, making attacks more costly, and stabilizing ETH’s price.
It also promotes decentralization in staking, reducing reliance on centralized services. Additionally, SER encourages DAOs to hold ETH long-term, fostering more stable financial strategies and a stronger Ethereum ecosystem.
Nonetheless, it also raises concerns about centralization, market instability from large holders, and regulatory challenges for corporate participants. According to the author, greater transparency, improved governance, and regulatory clarity are needed to ensure long-term success.
The growing momentum behind an Ethereum reserve comes as ETH continues its latest price rally. On May 13, the altcoin briefly surged past the $2,700 mark, marking highs last seen on February 24.
ETH Price Performance. Source: TradingViewBeInCrypto data showed that ETH’s value appreciated 43.1% over the past week. At the time of writing, it was trading at $2,636, representing daily gains of 7.3%.
Harmony led with a 26% rise in developer activity, followed by Gnosis (+25%), Avalanche (+23%), and Arbitrum (+20%).
Amid a notable downturn in the digital asset markets, blockchain developer activity has continued to rise, defying concerns that the ‘crypto market is dead.’
A recent report from Santiment highlights growth in development efforts across the top ten crypto ecosystems, with increases ranging from 11% to 26% in the past month.
Increased Developer Activity According to analysis from the blockchain analytics firm, the Harmony network recorded the highest increase in development activity, jumping by 26%, with a 4.7% rise in active contributors. Gnosis followed closely with a 25% surge, although it was the only blockchain to report a drop of 2.2% in contributors.
Avalanche and Arbitrum also experienced gains, with activity rising 23% and 20%, respectively. Despite being hit the most by the recent marketwide downturn, the Ethereum network saw a 13% jump in development events and a 1.9% rise in active contributors.
The BNB Chain ecosystem recorded a 17% increase in developer activity, while Polygon and Solana, two of the most actively used blockchain networks, saw engagement grow by 19% and 17%, respectively. Meanwhile, Cosmos had a 9% rise in efforts, with a notable 2.8% uptick in the number of contributors.
Crypto Market Downtown These figures come against a backdrop of a declining crypto market. CoinGecko data shows that the total market capitalization has crashed by almost 10% over the past 24 hours to $2.84 trillion.
Investor sentiment has also taken a hit, with the Crypto Fear and Greed Index plunging from 49 to 10 at one point, a shift from “neutral” to “extreme fear.”
You may also like: Jaredfromsubway Hacker Ignores 50% Bounty, Routes Funds to Tornado Cash BitMine, SharpLink, and Joe Lubin Back New Ethereum Nonprofit ETHLabs New Proposal Redirects 10% of Staking Rewards to Fund Ethereum Ecosystem BTC is trading at $83,833 after an 8.9% decline, with its market cap falling from $1.85 trillion to $1.66 trillion. ETH has been hit even harder, tumbling 10.9% to $2,091, its lowest price in 16 months. Analysts warn the token could retreat to $1,200, revisiting bear market lows from late 2022.
Several altcoins also dipped steeply following a brief Trump-driven rally over the weekend. At the time of writing, XRP had dropped 8.5% to $2.36, SOL had fallen 14.7% to $136.4, and ADA had taken the hardest hit, plunging 15.6% to $0.804. The rally had been caused by President Donald Trump’s announcement that a proposed U.S. crypto strategic reserve could include these assets.
However, the market reacted negatively to Trump’s confirmation that new 25% tariffs on imports from Canada and Mexico will take effect Wednesday, along with plans to double tariffs on Chinese goods from 10% to 20%.
Fintech Insiders Comment on Bank of England Stablecoin Rules Proposal Top Story
June 24, 2026 @ 10:07 am By |
The Bank of England has published proposed rules for privately issued stablecoins. This sector of Fintech may become the new, improved payment rails that provide instant transfers and payments at a lower cost than legacy providers. The rules have encouraged some participants in the… Read More
Read more in: Featured Headlines, Blockchain & Digital Assets, Global, Opinion, Politics, Legal & Regulation | Tagged anzens, baillie gifford, bank of england, circle, clearbank, encryptus, equals, mica, movement, RS2, stablecoins, tether, uk, united kingdom, xapo bank, zumo
Bullish Exchange Enables Trading Access for SoFiUSD, a US National Bank-Issued Stablecoin
June 24, 2026 @ 5:09 pm By Omar Faridi |
Bullish Exchange (NYSE: BLSH) announced that SoFiUSD, a U.S. dollar payment stablecoin issued by SoFi Bank, N.A. (NASDAQ: SOFI), is now available for trading on its platform. This move positions Bullish as the first centralized cryptocurrency exchange to list the token, extending its reach beyond… Read More
Read more in: Investment Platforms and Marketplaces, Blockchain & Digital Assets, Fintech | Tagged bullish, digital assets, sofi, SoFiUSD, stablecoins
Securitize Sued for Patent Infringement by tZERO, Liquid Rarity Exchange
June 24, 2026 @ 4:08 pm By JD Alois |
Digital asset firm Securitize has been sued by Liquid Rarity Exchange, dba RarityX, and by tZERO. The claim is for patent infringement relating to two patents covering asset tokenization and fractionalized ownership systems The filing by Liquid Rarity Exchange alleges that Securitize’s tokenization platform and digital… Read More
Read more in: Blockchain & Digital Assets, Investment Platforms and Marketplaces, Politics, Legal & Regulation | Tagged legal, liquid rarity exchange, rarityx, securitize, tzero
Binance Withdraws MiCA Application Filed in Greece
June 24, 2026 @ 12:13 pm By JD Alois |
Binance has decided to withdraw its application under MiCA, or Markets in Crypto Assets regulation, in Greece, according to a post on X. The company said that it made the decision to withdraw “after careful consideration of the current status and timeline of the Greek… Read More
Read more in: Blockchain & Digital Assets, Global, Politics, Legal & Regulation | Tagged binance, EU, greece, mica
Telcoin Enables Regulated On-Chain Bank Accounts for US Consumers
June 24, 2026 @ 8:21 am By Omar Faridi |
Telcoin Digital Asset Bank has introduced regulated on-chain bank accounts for users in the United States. Launched on June 23, 2026, through the latest version of the Telcoin Wallet, this offering marks the first time U.S. consumers can open a bank account directly tied to… Read More
Read more in: Blockchain & Digital Assets, Fintech | Tagged banking, defi, on-chain, stablecoins, telcoin, us
MoonPay Acquires Entendre to Bring AI Automation to Digital Assets Finance Operations
June 24, 2026 @ 4:39 am By Omar Faridi |
MoonPay, the global fintech platform that enables seamless movement of value between fiat currencies and cryptocurrencies, has acquired Entendre, an AI-driven finance operations company tailored for businesses handling on-chain transactions and stablecoins. The deal expands MoonPay’s infrastructure beyond payments, wallets, and trading into the critical… Read More
Read more in: Blockchain & Digital Assets, Fintech | Tagged acquisition, entendre, moonpay, stablecoins
Bipartisan Legislation Seeks to Enhance Partnerships Between Banks and Fintech Firms in the US
June 24, 2026 @ 2:37 am By Omar Faridi |
In Washington this week, Senators Pete Ricketts of Nebraska and Catherine Cortez Masto of Nevada advanced a bipartisan effort to better understand and potentially improve how smaller banks and credit unions work with financial technology companies. On June 18, 2026, the lawmakers introduced the Bank-Fintech… Read More
Read more in: Politics, Legal & Regulation, Fintech | Tagged banking, catherine cortez masto, fintech, legislation, pete ricketts
Central Bank of Ireland Launches Consultation to Strengthen Regulatory Decision-Making
June 23, 2026 @ 10:35 pm By Omar Faridi |
On 22 June 2026, the Central Bank of Ireland opened a public consultation inviting feedback on how it assesses the impacts of new or amended regulations and engages with stakeholders during the policy development process. The initiative, set out in Consultation Paper 170, forms part… Read More
Read more in: Politics, Legal & Regulation, Global | Tagged central bank of ireland, europe, insights, regulation, research
Austria’s Banking Groups Join European Payments Initiative to Expand Wero Wallet
June 23, 2026 @ 10:34 pm By Omar Faridi |
Two of Austria’s largest banking groups have become shareholders in the European Payments Initiative (EPI). The move will bring the Wero digital wallet — a secure, instant account-to-account (A2A) payment solution — to customers in Austria, significantly broadening its geographic reach. The announcement, issued on… Read More
Read more in: Fintech, Global | Tagged austria, banking, epi, europe, european payments initiative, wero
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
15 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
15 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
15 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
15 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
15 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
15 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
15 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
15 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
15 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
15 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
Gnosis Pay users were urged to withdraw funds after an active exploit linked to the platform’s Zodiac delay module, according to posts from Gnosis co-founder Martin Köppelmann and blockchain security firm PeckShield.
Summary
Gnosis Pay users were told to withdraw EURe and GNO after a delay module exploit. Köppelmann said the bug lets an attacker initiate transactions from Safes using the module. Gnosis said it would cover user losses while asking bridge validators to pause activity. “If you are a Gnosis Pay user – unfortunately I have to recommend: withdraw all funds (EURe and GNO),” Martin Köppelmann said on X.
He said the delay module has a bug and warned that users “might be affected.” The post told users to move both EURe and GNO from Gnosis Pay while the team worked on the issue.
“Users are strongly urged to withdraw all funds (EURe and GNO),” PeckShield said in a separate alert.
The blockchain security firm said Köppelmann had warned about an active exploit related to Gnosis Pay. It also told users to check their exposure because they may be affected.
Zodiac delay module bug tied to attack “The bug is related to the Zodiac delay module,” Köppelmann said in a later update.
He said the attacker can initiate transactions from Safes that use the delay module. The update gave more detail on the technical source of the exploit after the first warning referred only to a delay module bug.
The bug is related to the "Zodiac delay module". The attacker is able to initiate tx from Safes with such a delay module. We are doing various measures to contain the damage like asking bridge validators to pause.https://t.co/blaDkLpnuF
— koeppelmann (@koeppelmann) June 1, 2026 Gnosis Pay uses Safe-based accounts with smart contract modules. Its own documentation says Gnosis Pay accounts use a Delay Module and a Roles Module to support card payments while keeping users in control of their accounts.
The Delay Module is designed to place a short wait before outgoing transactions can execute. In normal use, that gives users time to react before certain transfers are completed.
Gnosis moves to contain damage “We are doing various measures to contain the damage like asking bridge validators to pause,” Köppelmann said.
The statement shows that Gnosis is working with outside infrastructure providers while it responds to the exploit. Bridge validators can play a role in cross-chain movement, so a pause may help slow further movement of affected funds.
“Rest assured, Gnosis will cover all user losses,” Köppelmann said.
No final loss figure had been published at the time of writing. The team has also not released a full post-mortem explaining how many accounts were affected or whether all attacker activity has stopped.
Wider payment security context As previously reported by crypto.news, Gnosis Pay launched a self-custody card for crypto spending at Visa merchants. The product was built to connect blockchain wallets with real-world payments.
That design places Gnosis Pay in a growing group of crypto payment tools that use smart contracts to support everyday spending. It also puts more attention on the code that controls wallet permissions and transaction timing.
The latest warning does not describe Gnosis Pay as shut down. It says users should withdraw EURe and GNO while the team works to contain the exploit.
Cover image via depositphotos.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Users are being urged to withdraw their assets right away due to a serious security incident that has occurred within the Gnosis ecosystem.
Concerns regarding the security of user funds were raised when blockchain security company PeckShieldAlert discovered an active exploit impacting Gnosis Pay. Martin Köppelmann, a co-founder of Gnosis, publicly urged users to remove all funds held through Gnosis Pay, amplifying the warning.
The problem, according to Köppelmann, is caused by a flaw in the platform's delay module, which is a feature intended to give transactions and account operations an extra degree of security.
HOT Stories
"Unfortunately, I must advise that all funds (EURe and GNO) be withdrawn. There is a bug in the delay module that could affect you"
Both GNO, the native token of the Gnosis ecosystem, and EURe, a stablecoin backed by the euro, appear to be affected by the vulnerability.
Project representatives have stressed that users should take immediate action rather than waiting for more technical details, even though the full scope of the exploit has not yet been revealed. According to PeckShieldAlert, the vulnerability may already be being exploited by attackers.
You Might Also Like
Quick action is frequently essential to preventing losses in incidents involving live exploits, especially when attackers can take advantage of vulnerabilities before patches or mitigation measures are fully implemented.
Gnosis Pay, which connects blockchain-based assets with conventional payment services, has become popular among consumers looking to use payment cards and associated financial tools to spend cryptocurrency assets. Therefore, a large number of users on the platform may be impacted by the latest security flaw.
As of this writing, no formal estimate of the impacted funds or accounts has been made public. As the investigation and mitigation efforts continue, the Gnosis team is anticipated to provide more updates.
PANews reported on June 1st that, according to The Block, Gnosis co-founder and CEO Martin Koppelmann confirmed that the Zodiac delay module associated with Gnosis Pay is under attack. Attackers can initiate transactions from the Safe wallet, which integrates the module. Gnosis has requested cross-chain bridge validators to suspend operations to control the risk. Koppelmann stated that Gnosis will bear all user losses and has removed its previous announcement requesting users to urgently withdraw EURE and GNO, stating that most users are unable to withdraw their funds themselves, and the team is working hard to control most of the losses and ensure that all users receive full compensation. Gnosis emphasized that the vulnerability is located within the Gnosis Pay system, and the Safe core contract is unaffected.
Update (June 2 at 10:30 am UTC): This article has been updated to include a statement from a spokesperson at Gnosis.
Gnosis is working to contain an exploit Monday affecting its Gnosis Pay product after co-founder Martin Köppelmann acknowledged an active hack involving the system’s delay module and said the project would cover user losses.
Köppelmann initially urged users to withdraw funds, a warning quickly amplified by blockchain security firm PeckShield, which said users were strongly advised to withdraw all funds (EURe and GNO) and check exposure.
The Gnosis co-founder later withdrew that advice, however, and deleted the initial tweet, saying that most users would not be able to withdraw their funds. He reiterated that the Gnosis team is “actively working to contain the damage” and will make users whole.
Gnosis is a long-running Ethereum project best known for its smart contract wallet infrastructure and Gnosis Chain, an Ethereum Virtual Machine (EVM)-compatible network used for payments and decentralized finance.
The shifting guidance leaves key questions unanswered, including how much has been stolen, which contracts or users are affected, and whether the issue stems from the Zodiac delay module itself, its configuration within Gnosis Pay, or a broader architectural flaw.
Gnosis co-founder pledges to make users whole. Source: Koeppelmann
A spokesperson from Gnosis confirmed the incident, telling Cointelegraph the team became aware of an exploit affecting Gnosis Pay card wallet infrastructure in the morning and “immediately took steps to protect partners and users.” They added that “this is an evolving situation,” and committed to sharing further updates as soon as possible. “We can confirm that all affected users will be reimbursed in full,” they said.
Former Near protocol core developer Vadim Zacodil said Gnosis Pay’s design routes user self-custody through a shared “delay” layer that queues outgoing transactions from many Safes at once, so a bug or exploit there can push malicious withdrawals into thousands of users’ queues simultaneously, even though individual keys never move.
In practice, he argued, what is protecting users in this incident is less the self-custodial Safe accounts and more Gnosis’s ability to pause infrastructure and commit treasury funds to cover losses.
Incident follows third-party Safe module exploitThe incident comes just days after a separate exploit involving a third-party module connected to Safe, the smart contract wallet infrastructure originally incubated within the Gnosis ecosystem and now developed by Safe Labs.
In that case, a SquidRouterModule contract interacting with Safe wallets was abused to drain about $3.2 million from roughly 86 Safes across Ethereum and Base, prompting both Safe Labs and Squid to say the vulnerability lay outside their core protocols.
It also comes after a month of reduced crypto exploit losses on the whole. Data from CertiK posted Sunday showed total losses fell to about $68.3 million in May, a roughly 90% decline from April, marking the third month this year with losses below $100 million.
Magazine: Will the CLARITY Act be good — or bad — for DeFi?
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
