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In a blog post on Tuesday, Binance Exchange, the largest crypto trading platform by volume, announced the automatic conversion of several delisted tokens to USDC.

This action will be executed based on the average token to USDC exchange rate within the conversion period.

What Binance Exchange Users Need To KnowAfter delisting 10 tokens from its catalog, Binance said in a follow-up message that it would convert them to USDC automatically, enabling holders to access their funds. After the conversion happens, the exchange will credit the stablecoin equivalent of the affected tokens to users’ wallets by April 28, 2025. The tokens include:

Vai (VAI) Tornado Cash (TORN) OMG Network (OMG) Waves (WAVES) NEM (XEM) BarnBridge (BOND) Dock (DOCK) Mdex (MDX) Polkastarter (POLS) Pundi X PURSE (PURSE) Read more: Binance Review 2024: Is It the Right Crypto Exchange for You?

Holders of these tokens should adjust their trading strategies accordingly to prepare for the upcoming changes. Failure to do so by October 28 would see them automatically converted to USDC, effectively phasing out the affected tokens from the exchange.

“During the Conversion Period [between October 29, 2024 and April 28, 2025], users will not be able to view the above tokens in their Binance wallets,” Binance articulated.

In this regard, it is worth mentioning that the history of Binance’s tokens delisting often inspires volatility. For instance, the exchange delisted six altcoins around mid-August, causing double-digit price drops for PowerPool (CVP) and Ellipsis (EPX). These tokens also featured among the delisted assets.

However, Binance is not only removing several tokens but also adding new ones to its platform. One of the notable additions is Scroll (SCR), a zkRollup scaling solution for Ethereum.

As per the announcement, SCR will be listed on October 11, with pre-market trading for the SCR/USDT pair set to open. This move supports Ethereum’s scalability by enabling faster, more efficient transactions while maintaining security and decentralization.

“Binance is excited to announce the 60th project on Binance Launchpool – Scroll (SCR), a Bytecode-level compatible zkEVM Rollup,” an excerpt in Binance’s announcement read.

Read more: What are Crypto Airdrops?

With this listing notice, Binance becomes the first platform to list Scroll’s powering token. The exchange will also airdrop 55,000,000 SCR, representing 5.5% of the total supply. Airdrop farming will start on Wednesday, October 9. The participants must lock their BNB and FDUSD to receive the SCR tokens.

Key NotesBinance plans on temporarily suspending deposits and withdrawals on some networks.Users will not be able to deposit and withdraw tokens based on Ethereum networks during this period.Trading is not affected by the suspension. Cryptocurrency exchange Binance intends to briefly halt deposits and withdrawals for select tokens on May 7, 2025, starting around 09:45 (UTC), in order to accommodate the Ethereum network upgrade and hard fork, aiming to maintain optimal user experience

Binance disclosed that it plans on temporarily suspending the deposits and withdrawals of tokens based on the following networks “Ethereum (ETH), Arbitrum (ARB), Optimism (OP), zkSync Era (ZKSYNC), Base (BASE), Manta Network (MANTA), Starknet (STRK), Polygon (POL), Metis (METIS), Scroll (SCR), Cyber (CYBER), Metal DAO (MTL), Celo (CELO) and Worldcoin (WLD)”.

This temporary suspension is intended to support the smooth execution of the Ethereum network upgrade and hard fork. According to the announcement, only deposits and withdrawals will be impacted, while trading on the affected networks will remain operational. Binance also stated that it will manage all technical aspects on behalf of its users.

The crypto exchange added that once everything is “deemed to be stable”, the deposits and withdrawals for the select tokens will begin.

Hard forks typically result in the creation of a separate blockchain that runs alongside the original one. All current nodes and miners must transition to the new chain. Hard forks are used to improve the functionality of the network, such as fixing security vulnerabilities, introducing new functionalities, upgrading the cryptocurrency’s core system, or undoing previous transactions.

Past and Future Network Upgrades The crypto exchange will also suspend the withdrawals and deposits for the Optimism and Metal DAO networks on May 9. Once the update is completed, withdrawals and deposits will begin automatically without additional announcements.

Previously, the crypto exchange has temporarily disabled deposit and withdrawal functions across various networks to facilitate upgrades and hard forks. For instance, transactions involving tokens on the THORChain (RUNE) network were paused on May 1 at 14:00 (UTC) to support a scheduled upgrade.

Similarly, on May 5, at around 06:00 (UTC), Binance suspended deposits and withdrawals for tokens on the IPTA network to accommodate its network enhancement and hard fork.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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January 25, 2026

Scroll co-founder Ye Chen’s X account was hijacked in a sophisticated phishing operation where attackers posed as platform employees to target crypto industry figures.

The compromised account, which commands substantial influence among crypto leaders, began distributing fraudulent messages claiming copyright violations and threatening account restrictions unless users clicked on malicious links within 48 hours.

The hackers transformed Chen’s profile to mimic X’s official branding, updating the bio to reference Twitter and nCino while warning followers about security breaches.

Screenshot from XThe attackers flooded the feed with reposts from X’s verified accounts to enhance perceived legitimacy, then launched their phishing campaign via direct messages.

Sophisticated Attack Mirrors Growing PatternThe breach follows established tactics where hackers exploit trusted accounts to distribute malicious links disguised as urgent platform notifications.

Recipients received messages appearing to come from X’s rights management team, complete with fake compliance warnings and time-sensitive appeals processes designed to create panic and bypass security awareness.

Blockchain security researcher Wu Blockchain first identified the compromise and alerted the community to ignore any communications from the account.

The warning emphasized particular concern given Chen’s extensive network of high-profile cryptocurrency executives, developers, and investors who might trust messages from his verified account.

Scroll co-founder @shenhaichen's X account has been hacked and is currently sending phishing private messages impersonating X employees. This account has a large following among prominent figures in the crypto industry; the community and users are advised to be aware of the… pic.twitter.com/ctXk2G0bQm

— Wu Blockchain (@WuBlockchain) January 25, 2026 The attack represents the latest escalation in social media compromises targeting crypto industry leaders, in which hackers increasingly leverage delegated account access and expired domain registrations to bypass security measures, including two-factor authentication.

BNB Chain’s official account suffered a similar breach in October when hackers posted fake reward programs with phishing links after Binance co-founder CZ warned followers against clicking suspicious content.

The compromised account promoted fraudulent BSC token distributions, promising early payouts to users who voted on reward dates through malicious URLs designed to drain digital wallets.

Binance co-CEO Yi He’s WeChat account was also hijacked in December to promote meme coin schemes, with attackers conducting a coordinated pump-and-dump operation around the token MUBARA.

Two wallets created hours before the breach accumulated 21.16 million tokens before dumping holdings as retail traders flooded in, netting attackers approximately $55,000 while leaving later buyers exposed to price collapse.

Among other notable accounts hacked were ZKsync and Matter Labs, which were compromised in May through what the team described as “delegated accounts” with limited posting privileges.

Hackers published false claims about an SEC investigation alongside fake airdrop promotions, triggering a 5% drop in the ZK token price despite a prior 38.5% weekly rally.

The prominent crypto media company, Watcher.Guru also confirmed its account breach in March after fake Ripple-SWIFT partnership claims spread across connected Telegram, Facebook, and Discord channels through automated content bots.

The team suspects the compromise originated from a suspicious link containing unusual query strings shared in their Telegram group weeks earlier.

Record Theft Year Exposes Escalating ThreatsThe crypto ecosystem witnessed over $3.4 billion stolen in 2025, according to Chainalysis’s 2026 Crypto Crime Report, with North Korean state-backed hackers accounting for a record $2.02 billion across fewer but increasingly sophisticated attacks.

Source: ChainalysisThe Democratic People’s Republic of Korea now represents 76% of all service compromises, bringing cumulative DPRK cryptocurrency theft to $6.75 billion since operations began.

Personal wallet compromises surged to 158,000 incidents affecting at least 80,000 unique victims, triple the 54,000 cases recorded in 2022.

Address poisoning scams drove December’s single-largest loss, when one victim transferred $50 million to a fraudulent wallet mimicking their intended destination, while private key leaks resulted in $27.3 million stolen from multi-signature wallets.

Personal Security Breaches Surge Across PlatformsMost recently, Ubuntu developer Alan Pope warned that attackers are hijacking Snap Store publisher accounts by registering expired domains linked to legitimate developers, then pushing malicious updates to previously trusted packages.

The technique exploits automatic update systems and established trust signals, with at least 2 confirmed cases of wallet-stealing malware distributed through seemingly normal applications.

Given these growing, multifaceted attack vectors, Better Business Bureau officials are warning consumers about phishing campaigns that lock X users out of their accounts and are subsequently used for cryptocurrency promotions.

Kentucky journalist Jennie Rees described receiving direct messages from apparent colleagues requesting contest votes, only to find her account posting fake Audi purchase claims tied to crypto earnings after clicking the malicious link.

ether.fi, a crypto neobank, is migrating its services from the Scroll blockchain to Optimism's OP Mainnet to leverage enhanced payment capabilities and enterprise-grade support.

ether.fi, a crypto neobank with $5.7 billion of total-value locked, said in an X post it’s migrating from the Scroll blockchain to Optimism's OP Mainnet.

The move aims to capitalize on Optimism’s OP Enterprise to enhance global payment capabilities, access established liquidity and users, and provide enterprise-grade support, according to the company’s blog post.

The migration is significant given ether.fi's substantial user base, boasting approximately 50,000 active cards, according to Cipher Research.

ether.fi offers a digital cash account and card product known as ether.fi Cash, which integrates DeFi features such as fiat-to-crypto flow, yield earning, and a non-custodial wallet.

Previously, ether.fi was hosted on Scroll, the 12th largest Layer 2 solution for Ethereum, with about $100 million of TVL.

Scroll’s SCROLL token is down 2.3% and Ether.fi’s ETHFi is down 3.6%.

This article was generated with the assistance of AI workflows.

Crypto-focused payment platform Ether.fi is shifting its Ether.fi Cash payment network from the Scroll blockchain to OP Mainnet. This transition will see nearly 70,000 active cards and over 300,000 accounts integrated into Optimism’s Superchain ecosystem within a few months. As Ether.fi prepares for a high-volume asset migration, company executives say the move aims to make its consumer applications more efficient and scalable under the new infrastructure.

OP Mainnet Ushers in a New Phase for Ether.fi CashEther.fi, renowned for its innovative restaking services, has been earning rapid recognition in the decentralized finance landscape. By 2024, the platform widened its offerings with Ether.fi Cash, making stablecoin spending and real-world card payments possible for users. Through Ether.fi, customers can either spend stablecoins directly or use staked assets such as eETH as collateral to fund real Visa transactions. The platform claims its cards alone now account for nearly half of all crypto-powered card transactions in the market.

Strategic Rationale for Network MigrationSelecting the right network—one that offers speed and deep liquidity—remains at the heart of every successful crypto payment solution. Ether.fi representatives emphasize that Optimism’s liquidity depth is better suited for this use case than Scroll’s ZK-rollup technology. Throughout the transition, Ether.fi will absorb all card transaction gas fees on behalf of users. The platform currently processes about $2 million in daily spending volume, underscoring the scale of its operations.

Technical and Operational Considerations in MigrationDuring the transition, Ether.fi will utilize support from OP Enterprise and adopt its shared codebase. Ether.fi Cash is recording around 2,000 internal swaps and an impressive 28,000 spending transactions each day, with these numbers reportedly doubling every two months. To ensure users don’t experience disruptions, the protocol is absorbing all transaction costs during the switch. Efficiency and capital effectiveness have been the guiding forces behind this network migration.

According to company data, as many as 3.6 billion transactions took place on the OP Stack infrastructure in the second half of 2025 alone. With Ethereum-based Layer 2 solutions expanding their market share at a brisk pace, the technical advantages and capacity of the Superchain ecosystem position Ether.fi to reach broader audiences at higher speeds.

As Ether.fi consolidates its presence on OP Mainnet, it will leave behind significant daily transaction volume on Scroll. This shift strengthens OP Mainnet’s standing in the ecosystem by integrating a high-volume, loyal user application, while Scroll is set to lose a considerable chunk of daily activities as a result.

Elsewhere in the Ethereum ecosystem, more projects are moving toward tried-and-tested infrastructures that offer mature liquidity and robust reliability over emerging technologies. On the user side, despite backend technical differences, the priority remains a seamless card payment experience without friction or delays.

The Ether.fi team explained that users won’t notice any changes in transaction fees during the migration, emphasizing that their long-term vision is to enable global, on-chain real-world payments.

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

The Ethereum Layer 2 network raised its L1 data cost scalars 1,280x over six days before rolling them back yesterday.

Users on Scroll, an Ethereum Layer 2 (L2) network, paid more than $50,000 in excess transaction fees over roughly four days after the team behind the project repeatedly raised the parameters that determine how much users pay for posting data to Ethereum, according to an analysis published by L2BEAT.

The overcharges stemmed from six manual increases to two fee multipliers on Scroll's gas price oracle, the smart contract that calculates the Layer 1 data portion of every transaction's cost. Each update raised the previous value by 2x to 10x, compounding to 1,280x the original baseline by April 5, L2BEAT said. On April 9, the team slashed both multipliers by 160x.

The baseline cost for all roughly 139,000 affected transactions would have been just $280. Instead, users collectively paid upward of $50,000, with automated bots accounting for the vast majority.

Scroll has not publicly addressed the findings at the time of writing.

Etherfi Cash bots, which are still running during the protocol's ongoing migration to Optimism, accounted for roughly $35,000, or 66% of the excess, per L2BEAT. Scroll's own oracle relayer paid approximately $5,200, with LayerZero, Succinct, and other bots making up the rest.

The issue was first flagged by a pseudonymous developer running a Succinct relayer, who posted on X that their transaction costs had jumped from $0.002 to over $20.

"Scroll was subsidizing L1 DA costs and is now correcting to sustainable pricing?" the developer asked. "And there's no users on Scroll except us, so we're paying full price for it?"

Crypto research firm Kairos Research noted that the fee spike appeared to coincide with etherfi's migration to Optimism. When etherfi was Scroll's dominant app, total daily transaction fees from its products averaged about $250. After the multiplier increases began on March 31, that figure jumped to roughly $16,000 per day.

L2BEAT clarified that the overcharges were not a sequencer issue, as the L1 gas prices reported by the oracle were accurate. The entire overcharge came from the multiplier increases, which went through a separate governance path involving the team's multisig wallet.

The episode raises the question of whether Scroll had been running fees below cost to retain users, a common practice among L2s competing for activity, and abruptly repriced once its largest fee contributor departed.

Scroll’s total value locked (TVL) sits at just $24 million, according to DeFiLlama, down 96% from its peak of $585 millon in October 2024.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

The governance overhaul comes on the heels of a fee controversy and the departure of the Layer 2 network's top revenue generator.

Scroll is proposing to dissolve its Security Council and slash contributor roles across its DAO, the latest in a string of operational shake-ups for the embattled Ethereum Layer 2 network.

In a forum post published Monday, Scroll contributor Juan outlined plans to transfer protocol admin control from the Security Council to a newly created Scroll Admin multisig, with the transition targeted to be completed within 10 days, pending the council's support.

The team framed the move as a cost-cutting measure, stating that the Security Council's expense could no longer be justified relative to its recent usage. They added that Scroll will work with stakeholders to identify a new council structure "better adapted to current market conditions."

Alongside the council dissolution, four DAO contributor roles, including the Accountability Lead, Accountability Operator, Marketing Operations, and Program Coordination positions, will be eliminated by April 30. A single Facilitator role operated by SEED LATAM will remain active through Q2 2026 to manage delegate operations and governance budgets.

The Operations and Accountability committees will shift to reduced capacity, with the post noting structures "remain in place and can scale back up as activity increases."

The governance restructuring comes at a turbulent time for Scroll. Just last week,users on the network paid more than $50,000 in excess transaction fees after the team briefly raised fee multipliers on Scroll's gas price oracle by a compounding 1,280x. The overcharges predominantly hit automated bots, including those still operating from EtherFi Cash's ongoing migration away from the chain.

EtherFi, Scroll's dominant consumer-facing app and top fee generator by a wide margin, announced in February that it would move its Cash accounts and card program to Optimism's OP Mainnet.

Scroll's TVL now sits at just $24 million, according to DefiLlama, a 96% decline from its October 2024 peak of $585 million.

The forum post states that the DAO "continues to operate and evolve" and encourages delegates to bring forward new proposals. But the combination of a collapsing user base and significant governance downsizing paints a stark picture for one of Ethereum's early zkEVM pioneers.

This article was written with the assistance of AI workflows. All our stories are curated, edited and fact-checked by a human.

PANews reported on April 14th that Scroll has announced a significant proposal regarding the Scroll protocol and governance operations. The team proposes dissolving the Security Council and transferring protocol management authority to the Scroll Admin multisignature address, with the transition expected to be completed within the next ten days. Scroll stated that the Security Council's costs are no longer justified relative to its actual usage over the past few quarters, and resources should be better allocated to product development and growth. Scroll will collaborate with key stakeholders to find a new Security Council structure more suited to current market conditions.

The decentralized organization behind the Ethereum-based Scroll network has announced a plan to dissolve its Security Council and transfer full control of the network to an internal team. The move comes on the heels of significant drops in both user activity and asset flows on the platform. In recent months, Scroll’s leading decentralized application, Ether.fi, departed with 300,000 users for the Optimism mainnet, resulting in a sharp $160 million outflow from Scroll’s total assets.

Major changes in governance structureUntil now, Scroll’s governance was overseen by a community-driven Security Council. However, the core team has argued that the council’s operating costs no longer justify its continuation, prompting a push toward a new management model. In a message to the community, the team noted that maintaining the current system incurs unnecessary financial burdens. As part of the proposed plan, many DAO contributors will see their roles eliminated, and the responsibilities of operational committees will be reduced.

With the Security Council’s approval, management transition to the internal team is expected to conclude within the next 10 days. The Scroll team emphasized that all decisions and updates to smart contracts will remain fully transparent and verifiable on-chain.

Fee hikes and user discontentEarlier this year in March and April, the Scroll network faced renewed attention after a sudden spike in transaction fees. According to independent analytics firm L2BEAT, Scroll briefly raised its data transmission fee by a staggering 1,280 times at the beginning of April. This dramatic technical adjustment led to seemingly extraordinary increases in 30-day aggregate on-chain fees. However, the team clarified that the spike was artificial and did not reflect organic user demand.

The temporary fee hike forced users to pay an additional $50,000 in transaction costs, whereas under normal circumstances, such activity would have totaled about $280. The inflated fees were rolled back to normal levels as of April 9.

Ether.fi migration deepens declineA significant blow to Scroll came with the departure of Ether.fi, a major decentralized finance (DeFi) application built on Ethereum. As Ether.fi moved 300,000 accounts and hefty transaction volume to the Optimism network, analytics from DeFiLlama show roughly $13 million in annual fees also left Scroll. This migration pushed the total value locked (TVL) on Scroll down to $23 million.

When comparing the Security Council’s recent operation and cost, the Scroll core team concluded, “We don’t think it makes sense to continue.”

Scroll’s structural overhaul, along with recent high-profile migration of apps and funds, have triggered concerns about the network’s future viability. It remains to be seen whether user and capital outflows will continue and just how effective the new governance model will prove to be.

Recent events have also sparked debate among community members about the trade-offs between security, decentralization, and operational efficiency on the network. Some users have voiced disappointment over the abrupt changes while others acknowledge the tough decisions required in challenging conditions.

Industry watchers point out that such governance shifts are not uncommon as decentralized projects mature and encounter new operational challenges. The Scroll team has pledged to maintain transparency throughout the transition process and to address community feedback wherever possible.

Besides the core governance transition, Scroll’s operational roadmap for the coming months will focus on stabilizing user engagement and rebuilding trust after the fee controversy and asset outflows.

Observers say the Scroll network’s next phase will be a key test of its adaptability, technological resilience, and ability to regain lost user and asset traction. Many in the blockchain ecosystem are watching closely to see how Scroll navigates its most critical period yet.

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

2026.05.28 21:18:12

May 28: Scroll co-founder Sandy Peng argues in a new article that the quantum computing threat to Bitcoin isn’t a physical hurdle—it’s a governance and coordination challenge, not a technical one. A March whitepaper from Google Quantum AI estimates breaking Bitcoin’s secp256k1 elliptic curve with an optimized Shor’s algorithm would require roughly 1,200 logical qubits; that’s nearly 20 times fewer than projections from five years ago. IonQ’s official roadmap targets 1,600 logical qubits by 2028, while IBM plans to launch its 2,000-qubit Blue Jay system by 2033. This puts the quantum threat timeline at roughly a decade, possibly even shorter. Attacks will unfold in waves. The most vulnerable targets are early P2PK-formatted Bitcoin addresses, where public keys are permanently recorded on the blockchain. This includes over 1 million bitcoins mined by Satoshi Nakamoto in Bitcoin’s early days—funds that can’t be moved to secure them because the private key’s holder is unknown. Additionally, a so-called “collect first, decrypt later” attack could already be underway: intelligence agencies don’t need to wait for full quantum computer maturity to exploit this, as they can simply store encrypted data now to decrypt it later once quantum tech advances. Once quantum computers are ready, unconfirmed transactions in the mempool will face real-time double-spend attacks within Bitcoin’s typical 10-minute confirmation window. Though NIST released post-quantum cryptography algorithm standards in 2024, migrating Bitcoin to these standards comes with steep costs: studies suggest network throughput would drop by 52% to 57%, transaction fees would double or triple, and storage requirements would rise significantly. This amounts to a “defensive downgrade”: costs hit immediately, while benefits are abstract and far in the future. That makes consensus near-impossible for the Bitcoin community, which took nearly two years to even reach agreement on the SegWit upgrade. By contrast, Vitalik Buterin has already rolled out an Ethereum quantum emergency roadmap that lets individual accounts switch to quantum-resistant signatures autonomously—no network-wide vote required. Peng warns Bitcoin won’t collapse to zero, but its survival path is narrower than optimists claim, and the quantum threat window almost exactly overlaps with the 10 to 15 years the Bitcoin community will need to build consensus. Early Bitcoin holders are advised to check their address formats and migrate promptly, while institutional investors should integrate a “post-quantum migration roadmap” into their due diligence frameworks.

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TLDR: A forged cross-chain message released $292M in unbacked rsETH due to a single-DVN bridge misconfiguration. Ether.fi pinned message libraries and raised DVN verification to a unanimous 4/4 threshold on all chains. weETH bridging will be deprecated on Scroll, Swell, Bera, zkSync, Mode, Blast, Morph, and Sonic by June. Ether.fi joins DeFi United and contributes 5,000 ETH to support coordinated cross-chain security response. Ether.fi has disclosed its full response to the April 18 rsETH exploit that affected Kelp DAO. A forged cross-chain message released approximately $292 million in unbacked rsETH during the incident.

No systems on the platform were directly compromised. The EtherFi Liquid vaults also had no direct exposure to rsETH.

The event exposed a critical vulnerability in DeFi cross-chain messaging infrastructure. This led the protocol to execute a protocol-wide security hardening across all 20 chains where weETH is deployed.

Three-Layer Security Hardening Deployed Across weETH Pathways The root cause of the exploit was a single-DVN configuration lacking redundancy. Ether.fi’s bridge had previously enforced two or more DVNs on all pathways. Still, the incident triggered a full review and three concrete hardening measures.

The first fix involved message library pinning on every weETH pathway. Ether.fi pinned the SendUln302 and ReceiveUln302 addresses into weETH’s OApp-specific configuration slot.

This blocked LayerZero’s multisig from swapping in a library that bypasses DVN verification. The fallback path has been fully closed across all chains.

The protocol then pinned its four-DVN set and raised the verification threshold to 4/4. Every inbound weETH message now requires attestation from all four DVNs.

A single malicious or unavailable DVN halts the message rather than being bypassed. LayerZero independently reviewed and confirmed the updated configuration.

Furthermore, the platform tightened per-route rate limits across all bridge contracts it controls. Each source and destination pathway now enforces a conservative inbound and outbound weETH cap.

These limits sit on contracts fully controlled by the protocol. They remain effective regardless of upstream bridge provider behavior.

Chain Deprecations and the Formation of DeFi United Beyond the immediate fixes, the protocol is evaluating a second independent bridge provider to reduce systemic risk. Chainlink CCIP and Wormhole are currently under consideration alongside LayerZero.

Cross-chain weETH messages would then require attestation from a quorum of providers. This move eliminates single-provider dependency entirely.

Following a systematic L2 risk assessment, ether.fi is deprecating weETH bridging on eight networks. Scroll, Swell, Bera, zkSync, Mode, Blast, Morph, and Sonic will be deprecated effective end of June. 

To close the coordination gap in DeFi, ether.fi is joining the DeFi United collective. The coalition brings together Aave, Kelp DAO, LayerZero, and ether.fi.

Shared security standards and coordinated incident responses are its core focus. This approach ensures no protocol faces a cross-chain failure alone.

The EtherFi Foundation is contributing 5,000 ETH to a dedicated DeFi United relief vehicle. Other partners in the collective are also contributing alongside ether.fi. When future failures occur, the coalition aims for the ecosystem to respond as one.

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US Treasury Secretary: AI boom may boost productivity and help curb inflation.

US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.

4 hours ago

US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.

According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.

4 hours ago

During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.

According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.

4 hours ago