Bývalý CEO SafeMoon John Karony dostal v New Yorku trest 100 měsíců vězení za podvod. Sam Bankman-Fried mezitím podal návrh na nový proces v kauze FTX.
Two of the most prominent crypto fraud cases in the U.S. courts moved in different directions today, 10 February.
In one case, the former chief executive of SafeMoon received a prison sentence following conviction. In another, Sam Bankman-Fried, the former head of collapsed exchange FTX, filed a fresh bid seeking to reopen his case.
SafeMoon CEO sentenced after victim testimony A federal judge in New York sentenced John Karony, the former CEO of SafeMoon, to 100 months in prison, according to courtroom reporting by Inner City Press.
During the sentencing hearing, multiple victims described how they invested in SafeMoon after being reassured by Karony’s public statements and personal engagement with the community.
Several said the losses reshaped their financial futures, preventing home purchases and affecting education plans.
U.S. prosecutors sought a 12-year sentence, arguing Karony deliberately misled investors and showed no remorse. The defense cited his age and background to mitigate the punishment.
The judge rejected those arguments, describing the scheme as “a massive fraud” and stating it was “more like theft than fraud,” emphasizing that investors had been explicitly assured there would be no rug pull.
The sentence marks a final chapter in one of the most widely followed cases to reach U.S. courts.
SBF files long-shot motion for new trial In a separate development, Bankman-Fried filed a pro se motion seeking a new trial on his FTX fraud conviction, according to Bloomberg.
The filing, dated 5 February and docketed Tuesday in Manhattan federal court, argues that new witness testimony could undermine the government’s case.
The request is separate from Bankman-Fried’s formal appeal. It comes after a federal appeals court rejected his attempt to secure release while that appeal is pending.
The Second Circuit ruled in December that he had not demonstrated a substantial likelihood of success.
Bankman-Fried was convicted in November 2023 on seven counts of fraud and conspiracy and sentenced in March 2024 to 25 years in prison.
Prosecutors said he misappropriated billions of dollars in FTX customer funds to support risky trading at Alameda Research, political donations, and luxury real estate purchases.
Cases enter different phases Together, the two developments highlight how high-profile crypto prosecutions are diverging in 2026.
While the SafeMoon case has reached sentencing, delivering closure for victims, the FTX case continues to generate procedural filings as its former executive pursues post-conviction relief.
Final Thoughts The SafeMoon sentencing reflects courts moving toward final judgments in retail-focused crypto fraud cases. Bankman-Fried’s filing underscores how larger cases can remain active for years through appeals and post-conviction motions.
Stacks zveřejnil whitepaper k Bitcoin Stakingu, který má umožnit držitelům BTC získávat výnos v BTC bez bridge, wrapování nebo ztráty úschovy. Mechanismus navazuje na PoX, který od roku 2021 vyplatil přes 4 200 BTC.
Proposed protocol upgrade extends Stacks' live Proof-of-Transfer mechanism to let BTC holders earn native Bitcoin yield without bridging, wrapping, or surrendering custody.
Stacks Labs today published a whitepaper outlining the first self-custodial Bitcoin Staking mechanism generating Bitcoin-native yield. The whitepaper details a proposed upgrade to Stacks’ existing Proof-of-Transfer (PoX) consensus mechanism that enables BTC holders to earn Bitcoin-denominated yield while their Bitcoin remains locked on the L1 under their own keys.
The whitepaper addresses a fundamental gap in the market: Bitcoin represents over $1.3 trillion in idle capital, yet BTC holders have had no path to earn Bitcoin yield on that capital without bridging to another chain, wrapping their BTC, or handing custody to a centralized lender. Existing approaches, including restaking protocols that require moving BTC off L1 or rely on intermediary trust assumptions, leave holders exposed to risks Bitcoin was designed to eliminate. Stacks’ Bitcoin Staking mechanism is the first mechanism where BTC stays on Bitcoin, under the holder's own keys, while generating native Bitcoin yield. The publication follows last week’s launch of the Stacks 2026 roadmap (stacks.co/roadmap), which laid out a three-phase plan for building Bitcoin-native finance. Bitcoin Staking is Phase 1 of that plan: the mechanism that anchors long-term BTC capital on-chain and establishes the economic foundation for the phases that follow, including a 100x throughput increase and a full suite of Bitcoin-native lending, borrowing, and programmable capital products.
The mechanism builds directly on PoX, which has operated in production since January 2021 and distributed more than 4,200 BTC in stacking rewards to date. Bitcoin Staking extends this existing infrastructure.
How It Works
Under Bitcoin Staking, participants form “protocol bonds” where participants pair a BTC timelock on Bitcoin with a corresponding STX lock on Stacks for a 6-month bonding period, targeting a fixed yield subject to the risks inherent to the protocol. The BTC remains on the Bitcoin blockchain, secured by Bitcoin consensus, under participant-controlled keys for the full bonding period.
BTC yield is generated the same way it is today under PoX: Stacks miners bid BTC to compete for STX block rewards and transaction fees. That miner-paid BTC is distributed to eligible participants. Bitcoin Staking changes who is eligible and how rewards are prioritized, not how they are generated.
Bitcoin Staking distributes PoX rewards according to a waterfall structure. Paired BTC-plus-STX positions form the primary tranche and receive the target yield rate for their respective bonds. After protocol bond obligations are met, excess miner revenue is split between STX-only stakers and a reserve fund that buffers payouts when miner revenue falls short.
Phased Rollout
The whitepaper proposes Bitcoin Staking launches in two phases. The first, PoX-5, is a managed bootstrap period expected to run approximately 12 months. During this phase, Stacks Endowment sets capacity and yield parameters and intends to work with a set of institutional partners who have been onboarded ahead of launch. Initial program conditions target 3,000 BTC in capacity at a 3% BTC APY with a 5% minimum STX pairing ratio. Partner onboarding for the bootstrap phase is underway; interested institutions can contact Stacks Endowment directly.
During the bootstrap phase, Bitcoin Staking will progressively decentralize, eventually transitioning to PoX-6, a permissionless consensus-encoded operation. In this phase, a permissionless sealed-bid clearing auction determines capacity allocation while yield rates, and ratio requirements are determined on-chain from miner economics, reserve fund status, and prior-period participation data. This phase is the fully decentralized end state described in the whitepaper.
Both phases require community governance approval through the Stacks Improvement Proposal (SIP) process.
Participation Paths
BTC holders can pair native Bitcoin, timelocked on L1, with STX for full protocol bond participation. sBTC holders, the Bitcoin-backed asset on Stacks, can pair sBTC with STX through L2 smart contracts, enabling pooled participation and DeFi integrations. STX holders can stake without any Bitcoin commitment and receive residual yield as the third tranche of the waterfall. Pooled participation options exist across all paths for smaller holders.
"Bitcoin is the world's most trusted asset precisely because of its design and safety principles on the L1. Bitcoin Staking changes the calculus; holders can now earn yield denominated in BTC, trustlessly, while their Bitcoin stays exactly where it belongs. This whitepaper is the culmination of years of protocol-level work to make Bitcoin programmable without compromising what makes it Bitcoin." — Muneeb Ali, Founder, Stacks.
“Bitcoin holders have been waiting for a way to put their capital to work without giving it up. What we’ve built on Stacks has already distributed over 4,200 BTC in real yield since 2021. Bitcoin Staking takes that proven infrastructure and makes BTC itself the yield-bearing asset, under the holder’s own keys, on Bitcoin. The whitepaper is the technical specification for Phase 1 of what we laid out in the roadmap last week — and the institutional partners we’ve been working with are ready to move.” — Alex Miller, CEO, Stacks Labs.
Availability
The full Bitcoin Staking whitepaper is available today here. The Stacks 2026 roadmap, which provides the broader context for Bitcoin Staking as Phase 1 of the network’s development plan, is available at stacks.co/roadmap. Community discussion and the SIP governance process will follow publication. Technical specifications, implementation documentation, and partner onboarding details will be published in subsequent releases. Institutions interested in participating in the PoX-5 bootstrap program should contact Stacks Endowment at [email protected].
About Stacks
Stacks is the leading Bitcoin layer by BTC deployed, providing infrastructure for a growing range of Bitcoin-native applications. The network enables Bitcoin-native financial applications, from lending and borrowing to autonomous AI agents, all settled with Bitcoin finality. Users can learn more at stacks.co.
Strive koupila dalších 382 BTC za zhruba 30,3 milionu USD a zvýšila své držení na 15 391 BTC. Firma tak patří mezi největší veřejné korporátní držitele Bitcoinu.
Strive, Inc. (Nasdaq: ASST) has acquired an additional 382 bitcoin for approximately $30.3 million, paying an average cost of roughly $79,348 per coin, according to an 8-K filing with the U.S. Securities and Exchange Commission.
The purchase, executed between May 13 and May 18, lifts the Dallas-based Bitcoin treasury and asset management firm’s total holdings to 15,391 BTC — cementing its status as one of the largest public corporate holders of the digital asset.
The latest accumulation adds to a relentless buying streak that has seen Strive grow its treasury by more than 2,200 BTC since January 2026, when the company held 12,798 BTC following its acquisition of Semler Scientific.
The pace has accelerated markedly: in late April, Strive purchased 789 BTC for roughly $61.4 million at an average price of $77,890 per coin, and just weeks later added 444 BTC for $33.9 million at $76,307 per coin, crossing the 15,000 BTC threshold for the first time.
Strive’s bitcoin strategy Alongside the latest purchase, Strive disclosed updated performance figures that underscore its unique approach to capital allocation. The company reported a quarter-to-date BTC Yield of 6.6% and a year-to-date BTC Yield of 18.4% — a proprietary metric that measures the percentage growth of Bitcoin exposure per common share over time, rather than simply the appreciation of BTC’s price.
The firm’s amplification ratio, a measure of how leveraged its Bitcoin exposure is relative to market value of holdings, stands at 44.3%.
That amplification ratio has grown steadily. When Strive held 13,132 BTC in January, its amplification ratio stood at 37.2%, predominantly driven by preferred equity rather than traditional debt. The expansion to 44.3% reflects continued SATA preferred stock issuances, which the company has used to fund Bitcoin purchases without diluting common shareholders in the conventional sense.
Strive also disclosed approximately $87.3 million in cash and cash equivalents, alongside a $49.8 million position in Strategy Inc.’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). The company, led by Chairman and CEO Matt Cole, describes Bitcoin as its “hurdle rate” for all capital deployment decisions — framing every acquisition not merely as a treasury move but as a benchmark for long-term shareholder value.
At current market prices, Strive’s 15,391 BTC treasury carries a value approaching $1.2 billion, ranking the firm among the top corporate holders of Bitcoin globally.
Earlier this week, Strive Inc. announced that its SATA preferred stock will become the first U.S.-listed security to pay cash dividends every business day starting June 16, with daily compounding lifting its effective yield to about 13.88%.
The firm also reported a $265.9 million Q1 net loss driven largely by Bitcoin valuation declines, while expanding its holdings to 15,009 BTC and maintaining a debt-free balance sheet, as CEO Matthew Cole positioned the move as a “zero-to-one innovation.”
Micah Zimmerman
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
UTXO Management patří mezi první institucionální účastníky bitcoinového stakingu na Stacks a chce získávat výnos v BTC bez ztráty self-custody. Cílový výnos protokolu je téměř 3 % ročně.
Bitcoin-native asset management company UTXO Management has become one of the first institutional participants in Bitcoin Staking on the Stacks network, marking a notable shift in how corporate Bitcoin holdings may be used.
The initiative introduces a structure that allows institutions to earn bitcoin-denominated yield without transferring custody or moving assets off the Bitcoin base layer.
For treasury managers holding large BTC reserves, the model presents a new option that preserves core Bitcoin properties while addressing rising pressure to generate returns.
Bitcoin Staking on Stacks requires participants to lock BTC in a Bitcoin timelock alongside a smaller allocation of STX, the Stacks network’s native token, in what the protocol defines as a “protocol bond.”
The BTC remains under the participant’s control throughout the process, while the STX component determines the scale of participation in the system. The initial bonding period is set at six months.
The yield target for the protocol is near 3% annual percentage yield, paid in bitcoin. Unlike lending-based models, the return does not rely on counterparty borrowing. Instead, it is derived from Stacks’ Proof-of-Transfer consensus mechanism.
Under this model, miners bid BTC to secure the right to produce blocks on the Stacks network, and that BTC is distributed to eligible participants, including those engaged in Bitcoin Staking.
Proof-of-Transfer has operated for several years and has distributed more than 4,200 BTC since 2021. Bitcoin Staking builds on this framework, extending its reward structure to a broader class of participants.
The protocol is expected to reach mainnet later this summer, opening with an initial bootstrapping phase managed by the Stacks Endowment.
Staking tradeoffs as bitcoin gains traction The model introduces trade-offs that institutions must evaluate. Participants must hold STX equal to about 5% of the BTC position, which creates exposure to a second asset. The bonded BTC remains illiquid during the lockup period, though an early exit option exists for the BTC portion. Yield levels depend on network dynamics, including miner demand and STX market conditions, which introduces variability.
Despite these factors, UTXO’s participation signals growing institutional interest in productive Bitcoin strategies that maintain self-custody.
The structure avoids lending desks and synthetic wrappers, both of which require relinquishing some control or altering the nature of the underlying asset.
Corporate Bitcoin treasuries have expanded in recent years. The top 100 companies now hold more than 1.2 million BTC, representing about 5% of total supply.
Executives see Bitcoin Staking as a response to that scrutiny. Tyler Evans, Chief Investment Officer of Nakamoto and UTXO, described the model as a way to generate yield while preserving Bitcoin’s settlement and custody features.
Stacks founder Muneeb Ali framed the development as a step toward transforming idle Bitcoin into productive capital within a secure framework.
Disclaimer: Bitcoin Magazine is published by BTC Inc, a subsidiary of Nakamoto Inc. UTXO Management is also a subsidiary of Nakamoto Inc. (NASDAQ: NAKA)
Micah Zimmerman
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
Fireblocks integroval síť Stacks a otevřel Bitcoin DeFi více než 2 400 institucionálním klientům. Získají podporu úschovy STX i možnost mintovat a bridgeovat sBTC.
Fireblocks, the institutional crypto infrastructure platform that processes more than $5 trillion in digital asset transfers annually, has integrated the Stacks Bitcoin Layer 2 network. The move opens Bitcoin DeFi services to more than 2,400 institutional clients who previously had no streamlined way to access them.
The Fireblocks-Stacks integration covers several key capabilities. Institutional clients get custody support for STX tokens, plus the ability to mint and bridge sBTC, the synthetic Bitcoin asset that operates on the Stacks network.
From there, clients can access DeFi protocols built on Stacks, including Hermetica, Zest/Granite, and Bitflow. These protocols span lending, token swaps, and yield generation.
Advertisement
One of Stacks’ selling points for institutional users is speed. The network processes transactions with roughly 5-second block times, compared to Bitcoin’s average of about 10 minutes. For institutions executing complex DeFi strategies, that difference matters.
The integration was announced in early February 2026, with full functionality expected by the end of Q1 2026.
Why institutions care about Bitcoin DeFi now Bitcoin’s base layer wasn’t designed for smart contracts. Layer 2 solutions like Stacks exist specifically to bridge that gap, adding programmability on top of Bitcoin’s security model. But even with Layer 2 solutions available, institutions faced a second barrier: custody and compliance. A hedge fund or asset manager can’t just connect a MetaMask wallet to a DeFi protocol and start yield farming. They need enterprise-grade custody, audit trails, regulatory compliance frameworks, and counterparty risk management. That’s exactly what Fireblocks provides.
Broader context and competitive positioning Stacks has also established partnerships with BitGo and Circle, two other heavyweight names in institutional crypto infrastructure. BitGo provides custody and liquidity services to institutional investors. Circle is the issuer of USDC, the second-largest stablecoin by market cap. Together with Fireblocks, these partnerships form a triangle of institutional credibility that few Bitcoin Layer 2 competitors can match.
For investors watching this space, the key metric to track isn’t the integration announcement itself but what happens to total value locked on Stacks-based DeFi protocols over the coming quarters. If institutional capital actually flows through Fireblocks into protocols like Hermetica, Zest/Granite, and Bitflow, it would validate the thesis that Bitcoin DeFi can attract serious money, not just crypto-native capital.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Stacks Endowment otevřel žádosti o Q2 2026 Builder Grants pro bitcoinové vývojáře, uzávěrka je 26. června a rozhodnutí padnou do 1. července. Program cílí na finance nativní pro Bitcoin.
Bitcoin builders have a three-week window to pitch their projects for funding. The Stacks Endowment opened applications for its Q2 2026 Builder Grants on June 5, with the deadline set for June 26 and funding decisions expected by July 1.
The grant program is specifically focused on what the Endowment calls “Bitcoin-native finance,” a category that spans decentralized finance protocols, perpetual contracts, real-world asset tokenization, agentic applications, and privacy-enhancing tools.
What’s on the table Previous 2026 grant cycles offered two distinct tracks. Builder Grants provided up to $50K for established teams with proven track records. Getting Started Grants offered up to $10K for early-stage projects still finding their footing.
Advertisement
Applications close June 26, and funding decisions land by July 1. That’s a five-day review window.
The Stacks Endowment recently received a 25 million STX donation through SIP-031, which significantly bolsters its capacity to fund builders across the ecosystem.
Why Bitcoin Layer 2 development matters right now Stacks positions itself as a leading Bitcoin Layer 2 solution, enabling smart contracts and DeFi functionality that settle directly on Bitcoin.
What this means for investors The Stacks Endowment’s mission is to manage the ecosystem’s long-term treasury and allocate capital toward sustainable growth. The 25 million STX donation through SIP-031 signals that the broader Stacks community is willing to put real resources behind this strategy.
Builders interested in applying have until June 26 to submit their proposals. The rapid funding timeline, with decisions by July 1, means approved teams could be deploying capital before most traditional venture processes even schedule their first call.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
THORChain pozastavil obchodování a swapy po exploitu za více než 10 milionů USD napříč Bitcoinem, Ethereum, BSC a Base. RUNE během několika hodin spadl o 12 %.
THORChain, a decentralized cross-chain liquidity protocol, has paused trading after blockchain security researchers flagged an exploit worth over $10 million. The protocol has reportedly suffered an exploit across Bitcoin, Ethereum, BSC and Base. As a result, RUNE price crashed 12% in a few hours.
THORChain Hit By $10M Crypto Losses in Exploit On-chain investigator ZachXBT on May 15 flagged an exploit on THORChain, claiming losses exceeding $10 million. The funds are stolen across multiple major blockchains, including Bitcoin, Ethereum, BNB Smart Chain (BSC), and Base.
In response, THORChain has halted all trading and swaps via its emergency protocol to contain the damage. The exploit involved large unauthorized outflows from THORChain’s router contracts across the affected chains.
Many security researchers and analytics platforms such as PeckShieldAlert revealed the attacker’s wallets. Notably, the wallets hold 36.85 BTC, 3,443 ETH, and 96.6 BNB, along with other tokens like USDT, USDC, and WBTC, according to Arkham data.
THORChain Exploiter Wallet’s Crypto Assets. Source: Arkham The incident triggered THORChain’s built-in halt mechanism, where nodes pause operations upon detecting the exploit to protect liquidity providers (LPs). This is reportedly the second notable security event for THORChain this year, amplifying concerns about DeFi interoperability risks.
Recently, KelpDAO suffered a hack worth $290 million. The attacker drained rsETH through KelpDAO’s LayerZero-powered cross-chain bridge, risking contagion to other DeFi protocols such as Aave.
RUNE Price Crashes 12% amid Market Reaction RUNE price fell 12% in just a few hours, with the price currently trading at $0.520. The 24-hour low and high are $0.502 and $0.597, respectively. Furthermore, trading volume has increased by almost 140% over the last 24 hours as investors book profits amid a decline in prices.
In contrast, CoinGlass data showed massive buying in the derivatives market. At the time of writing, the total THORChain futures open interest jumped more than 6% to $24.80 million in just an hour. RUNE futures open interest spiked 19% in the past 4 hours, with an almost 17% and 19% jump on Binance and Bybit, respectively.
THORChain Futures Open Interest. Source: Coinglass If you’re looking for more cross-chain swap protocols, here are our reviews for the top 9 among the best cross-chain swap platforms in 2026.
Binance ve 43. reportu PoR ukázala růst uživatelských zásob na zhruba 630 000 BTC a 4,14 milionu ETH. Zároveň USDT klesly zhruba o 460 milionů na 34,3 miliardy USDT.
Binance has released its 43rd proof of reserves report, using a June 1 snapshot of user asset balances.
Summary
Binance users added 25,838 BTC in May, lifting reported holdings to about 630,000 BTC total. ETH balances rose faster than BTC, climbing 10.17% to about 4.14 million ETH by June. USDT holdings fell by roughly 460 million, pointing to lower stablecoin balances among Binance users. The latest update on the Binance PoR page shows a clear rise in reported Bitcoin and Ethereum user holdings from the prior month.
User BTC holdings rose 4.26% from May 1 to about 630,000 BTC. That marked an increase of 25,838 BTC. User ETH holdings rose faster, climbing 10.17% to about 4.14 million ETH, up 382,619 ETH over the same period.
The increase in BTC and ETH balances comes as exchange reserve reports remain closely watched by traders. Larger user balances can reflect deposits, purchases, internal transfers, or other account activity. The snapshot does not separate those drivers.
USDT balance moves lower The stablecoin side moved in the other direction. Binance reported user USDT holdings of about 34.3 billion USDT, down 1.33% from May 1. The decrease was equal to roughly 460 million USDT.
Binance Releases 43rd Proof of Reserves Report
Binance, the world’s largest crypto exchange by user count and trading volume, released its 43rd Proof of Reserves report with a June 1 snapshot. User BTC holdings rose 4.26% from May 1 to about 630,000 BTC, an increase of 25,838… pic.twitter.com/P6GQBFhj3s
— Wu Blockchain (@WuBlockchain) June 18, 2026 The mixed data shows users held more BTC and ETH on Binance, while reported USDT balances fell. The report does not show why balances changed. It does not prove whether users bought crypto, withdrew stablecoins, moved funds between products, or changed trading plans.
A lower USDT balance can matter because stablecoins often act as dry powder for trading. However, the figure alone does not show whether liquidity left Binance or moved into other assets on the platform.
Proof of reserves remains under focus Binance uses proof of reserves to show that user assets are backed on-chain. The exchange says the process is meant to prove customer funds are held “1:1” and include extra reserves. The report is based on snapshots, so it does not operate as a live balance sheet.
As crypto.news reported earlier, Binance led proof-of-reserve rankings with $155.6 billion in assets in January 2026, based on CoinMarketCap data. According to an earlier crypto.news report, Binance’s open-source PoR system uses zero-knowledge proofs to improve verification and privacy for users.
Balance changes point to rotation The June snapshot differs from some earlier reserve moves. In a previous crypto.news report, Binance’s September balances showed declines in BTC, ETH and USDT during a weaker market period. The latest snapshot shows the opposite for BTC and ETH, even as USDT balances fell.
crypto.news previously reported that Binance backed major tokens at more than 100% in a May 2025 reserves update, including Bitcoin, Ethereum and USDT. That earlier report said proof of reserves became more closely watched after FTX collapsed and users demanded clearer exchange backing data.
The latest figures suggest Binance users held more core crypto assets and less USDT at the start of June. BTC and ETH remain the two largest non-stablecoin assets in most exchange reserve reports, making their balance changes a key market signal.
Still, proof of reserves has limits. It shows reported asset backing at a point in time, but it does not fully explain liabilities, off-chain obligations, or user behavior. For that reason, the latest Binance report shows a balance shift, not a full picture of exchange health.
Telcoin získal v Nebrasce schválení provozovat první regulovanou banku s digitálními aktivy v USA, což spustilo prudký růst TEL. Povolení má otevřít cestu i pro bankovní stablecoin eUSD.
Telcoin (TEL) is an ERC-20 token powering a platform that connects mobile telecommunications with decentralized finance. In mid-November 2025, the token surged 95% after Telcoin received approval to operate the first regulated digital asset bank in the United States under Nebraska's Financial Innovation Act.
The approval was more than a price catalyst. It represents years of infrastructure work aimed at delivering low-cost financial services through mobile networks. Few crypto projects hold banking licenses, telecom partnerships, and DeFi infrastructure simultaneously. Telcoin now has all three.
This analysis covers TEL's tokenomics, utility, market performance, and the regulatory progress positioning it where traditional finance meets blockchain.
What Is the Telcoin Project?Founded in 2017 by CEO Paul Neuner, Telcoin set out to build what it calls the "Internet of Money." The platform integrates telecommunications, digital banking, and decentralized finance to bring accessible financial services to mobile users worldwide. It achieves this through partnerships with mobile network operators (MNOs) under the GSMA framework.
The ecosystem has several moving parts. The Telcoin Wallet app lets users hold stablecoins, swap tokens on Polygon, and send cross-border payments. The wallet already supports 11 digital cash currencies on Polygon, including eAUD, eGBP, eJPY, eSGD, and eZAR. Governance sits with the Telcoin Association, a Swiss non-profit overseeing protocol decisions.
Regulatory licensing has been central to Telcoin's approach. The project holds licenses in Singapore, Lithuania, the United States, Canada, and Australia. The November 2025 Nebraska approval stands as its most significant milestone. The charter is the first in the US to explicitly authorize connecting customers to DeFi protocols under a regulated framework. Bank-issued stablecoin eUSD is expected to launch soon, with eEUR announced for EU markets under MiCA compliance but not yet live.
What Is Telcoin Network?Telcoin Network is the project's own blockchain, currently in development. It's an EVM-compatible, public chain secured by GSMA Operator Member mobile network operators using Proof-of-Stake consensus.
The network design puts telecoms at the center. Only GSMA Full Member MNOs can run transaction nodes and earn network fees. This creates a validator set tied to established telecom infrastructure rather than anonymous node operators. Validators receive TEL issuance as rewards for securing the network and maintaining efficient operations.
Development has progressed through several phases. Once fully live, telecoms and their mobile money subsidiaries can launch customized financial applications tailored to local markets. The network also bridges with existing mobile financial services ecosystems and other blockchains.
Why Does a Telecom-Secured Chain Matter?Most blockchains rely on anonymous validators or mining pools. Telcoin Network takes a different route by anchoring validation to licensed telecoms with existing compliance infrastructure, global reach, and billions of existing customer relationships. This design aims to solve two problems at once: regulatory acceptance and distribution scale.
How Does TEL Accrue Value on the New Chain?For TEL holders, the network transition changes the token's economic role. On Ethereum, TEL is one of thousands of ERC-20 tokens. On Telcoin Network, it becomes the native asset powering all transactions.
Gas demand: Every transaction requires TEL for fees, creating persistent buy pressure as network activity grows.Staking locks: Validators and delegators must stake TEL to participate, reducing circulating supply.Validator rewards: TEL issuance flows to MNOs securing the network, aligning telecom incentives with token value.Whether fee burns or MEV capture mechanisms are planned has not been confirmed. Monitor official channels for updates on deflationary features.
How Do TEL Tokenomics Work?$TEL launched via an initial coin offering in 2017 as an ERC-20 token on Ethereum. It has since expanded to Polygon, Arbitrum, and Base. The token serves as the native asset of the Telcoin Platform, with the Telcoin Association handling governance.
Key Token MetricsTotal supply: 100 billion TEL (hard cap, no additional minting planned)Max supply: 100 billion TEL (matches total supply)Circulating supply: 91-95 billion TEL (91-95% of total)Holder count: Approximately 97,700 wallet addressesInflation rate: Zero (no new tokens minted)Burn mechanisms: None confirmed for 2025Supply DistributionThe 4% gap in circulating supply figures between CoinMarketCap and CoinGecko likely stems from differences in how real-time updates are handled or in how vesting schedules are counted.
High circulation means strong liquidity, but it also raises questions about dilution from remaining unlocked tokens. The original ICO included team vesting provisions, though recent focus has shifted toward decentralized governance. No explicit burn schedules have been announced.
Inflation and Deflation DynamicsWith no new tokens being minted, TEL has zero inflation. All scarcity comes from the fixed 100 billion cap. Deflationary pressure could emerge through transaction fee burns or staking locks once Telcoin Network launches, but those mechanisms depend on future protocol decisions.
The fully diluted valuation currently ranges from $487.4 million to $501.2 million, based on the price multiplied by the maximum supply.
What Are TEL's Utility and Use Cases?TEL does more than trade on exchanges. The token plays several active roles across the Telcoin ecosystem.
Network Operations: TEL will serve as the gas token for the upcoming Telcoin Network. It also functions as a reserve asset and powers staking, liquidity provision, and validator rewards.DeFi Integration: Users stake TEL to earn yields and provide liquidity to pools. The token connects to the platform's eXYZ Digital Cash stablecoins for settlements and lending, with bank-issued eUSD set to launch as a regulated dollar stablecoin.Mobile Finance: TEL enables borderless payments to mobile money platforms. Partnerships with Powerhive for energy financing in Kenya and The Game Company for gaming transactions show its real-world reach.Governance: Token holders influence protocol decisions through the Telcoin Association framework.This mix of network utility, DeFi functionality, and practical applications sets TEL apart from purely speculative tokens.
How Has TEL Performed in the Market?TEL's price action reflects both broader crypto trends and project-specific news. As of late November 2025, the token trades between $0.00487 and $0.00501. Market cap ranges from $444.7 million to $463.4 million.
Recent Price MovementsDaily trading volume runs between $3.22 million and $4.22 million, about 0.72% of the market cap. That ratio suggests moderate liquidity for a token this size.
At the time of writing, recent volatility looks typical for mid-cap crypto: movements ranging from -7.4% to +7.08% over 24 hours, -24.5% over seven days, +27.5% over 30 days, and +34.5% year-over-year. These figures change daily, so check the current data for the latest figures.
The big move came around November 12, 2025. TEL jumped roughly 100% following news of the US banking approval, peaking a few days later before consolidating.
Price of TEL token surged after banking charter approval (CoinMarketCap)Historical Extremes and ContextTEL hit its all-time high of $0.06448 on May 11, 2021, during that year's bull run. Current prices sit about 92.4% below that peak. On the other end, the all-time low of $0.00006474 came on March 13, 2020, amid the COVID-driven market downturn. From that bottom, the token has climbed over 7,425%.
Trading happens on exchanges such as MEXC, Kucoin, and Bitget. Unconfirmed community speculation suggests potential Tier-1 listings like Coinbase could follow, though nothing official has been announced. Community sentiment remains bullish, and CoinGecko gives the project a security score of 85.81%, with 43% of the codebase reportedly covered by audits.
What Happened with Telcoin in 2025?This year brought several developments affecting TEL's value proposition and adoption trajectory.
Digital Asset Bank Approval (November 12): Telcoin became the first crypto project to secure a US banking charter. The Nebraska charter explicitly authorizes DeFi connections under a regulated framework, a first for US banking. This clears the path for eUSD, the company's bank-issued dollar stablecoin, and triggered the November price surge.Funding Raise (October 14): The project raised $25 million as part of an ongoing pre-series A round to capitalize Telcoin Digital Asset Bank. Investors include Tom Kaiman of Otter & Co. Capital Holdings. The funding meets capital requirements and positions Telcoin to bridge what the company calls the "$4 trillion blockchain economy" with traditional banking.Network Development: Alpha Testnet went live after May 2025. Beta Testnet is targeted for year-end, with mainnet to follow. Blockchain rollouts often face delays, so monitor official channels for the latest timeline.Industry Events: Telcoin appeared at MWC Kigali in October and the Africa Stablecoin Summit in November, highlighting telecom integrations for African financial inclusion.Wallet Updates: Version 4.0 launched in Q1 with UX improvements. November 18 maintenance prepared the platform for further upgrades.How Does Telcoin Compare to Competitors?The remittance and mobile payment space is crowded. Wise and Remitly dominate cross-border transfers with established user bases and fiat rails. Traditional banks remain entrenched despite higher fees. Other blockchain projects like Stellar and Ripple target similar use cases.
Telcoin differentiates on three fronts:
Telecom distribution: Rather than building user acquisition from scratch, Telcoin partners with MNOs who already serve billions of mobile subscribers. This gives potential access to distribution channels that fintech startups typically spend years and millions trying to replicate.Regulatory-first approach: Most crypto remittance projects operate in legal gray areas or offshore jurisdictions. Telcoin pursued banking licenses and helped author the Nebraska Financial Innovation Act in 2021. The result is a framework that competitors would need years to match.Integrated stablecoin suite: While others rely on third-party stablecoins like USDT or USDC, Telcoin issues its own eXYZ Digital Cash currencies directly through its wallet. Bank-issued eUSD adds another layer of regulatory credibility once live.Whether this translates to market share remains unproven. The infrastructure exists, but adoption at scale is the next test.
What Risks and Challenges Does TEL Face?Regulatory wins aside, TEL faces hurdles common to crypto projects plus some unique to its niche.
Key Risk FactorsRegulatory Uncertainty: Nebraska approval is progress, but rules differ across jurisdictions. International growth depends on securing and keeping licenses in countries with varying frameworks.Market Competition: Established players like Wise and Remitly have a years-long head start and brand recognition. Traditional banks continue to invest in faster payment rails. Blockchain competitors are also well-funded.Adoption Challenges: Success hinges on telecom partnerships and user uptake in regions where legacy finance may be preferred, or crypto awareness is low.Technical Execution: Mainnet rollout and stablecoin launches carry implementation risk. Delays or bugs could shake confidence.Current InfrastructureThe banking charter gives Telcoin infrastructure that few crypto projects have. The eUSD framework connects regulated finance with DeFi. Mainnet development will establish TEL's role as a native gas token. The focus on underbanked populations in Africa and developing regions targets a massive potential user base. Exchange presence includes MEXC, with talk of Tier-1 additions circulating as unconfirmed speculation.
ConclusionTEL powers a platform that has cleared regulatory barriers that only a few crypto projects even pursue. The Nebraska banking charter enables stablecoin issuance while keeping DeFi doors open. A capped 100 billion supply and utility across gas, staking, governance, and payments give the token a defined role where telecom, banking, and blockchain overlap.
Telcoin now combines US banking approval, telecom partnerships across multiple countries, and a working wallet app. For anyone watching projects that bridge regulated finance and decentralized tech, this is one of the few with both the paperwork and the product.
The next 12-18 months, covering mainnet launch, stablecoin rollout, and telecom integrations, will determine whether Telcoin can convert infrastructure into adoption.
Visit the official Telcoin website for more information and follow @telcoin on X to stay updated on the latest developments.
SourcesTelcoin Official Website - Project overview and documentationCoinMarketCap - Market data, supply metrics, and holder statisticsCoinGecko - Price history, all-time highs/lows, and security metricsTelcoin Magazine (Substack) - Project updates, roadmap, and regulatory newsBusinessWire - $25 million funding announcement (October 2025)MEXC Exchange - Trading data and tokenomics breakdown
$TEL začne 22. ledna 2026 ve 14:00 UTC obchodovat na Krakenu, což rozšíří regulovaný přístup pro uživatele v USA. Listing navazuje na schválení Telcoinu jako první americké státem licencované digitální asset banky a spuštění eUSD v prosinci 2025.
Telcoin's native token $TEL will begin trading on Kraken on January 22, 2026, at 14:00 UTC, expanding access to the token that powers the Telcoin Network's telecommunications blockchain infrastructure. The listing follows Telcoin's recent regulatory approval as the first U.S.-chartered digital asset bank and the December 2025 launch of its eUSD stablecoin.
What Does The Kraken Listing Mean For Telcoin?Kraken announced the listing in a statement emphasizing Telcoin's alignment of mobile networks around a shared blockchain standard. According to Telcoin, the listing represents "expanding US access to the token powering the telecommunications blockchain standard."
Kraken's regulated infrastructure matches Telcoin Association's stated mission of uniting mobile operators around shared blockchain infrastructure to connect billions of users on Telcoin Network. The exchange has built a reputation for listing projects with regulatory clarity, making it a logical fit for Telcoin following its November 2025 Nebraska banking charter approval.
Who Is Telcoin And What Makes It Different?Founded in 2017, Telcoin operates at the intersection of blockchain infrastructure and telecommunications networks. The company focuses on delivering low-cost financial services, particularly payments and cross-border remittances, through partnerships with mobile network operators.
The platform currently works with more than 200 mobile network operators globally and supports over 2 million wallet users. Most activity occurs on Polygon due to lower transaction costs compared to Ethereum mainnet.
The Telecommunications Blockchain StandardTelcoin's approach centers on partnering directly with mobile carriers rather than competing with them. These mobile network operators, often called MNOs in the telecom industry, provide the distribution channels for Telcoin's financial services. This model aims to reach users in markets where traditional banking infrastructure remains limited or expensive.
Recent Regulatory MilestonesOn December 26, 2025, Telcoin formally began banking operations with the launch of eUSD, a U.S. dollar-pegged stablecoin backed 1:1 by cash reserves. The stablecoin launched on both Ethereum and Polygon with an initial mint of $10 million.
This marked the first time a U.S.-chartered bank issued a dollar-backed stablecoin directly onto public blockchains. The launch followed regulatory approval from the Nebraska Department of Banking and Finance in November 2025.
Key structural differences set eUSD apart from existing stablecoins:
Bank-issued structure: eUSD comes from a U.S.-chartered bank subject to state banking supervision, unlike USDC or USDT which are issued by private companies outside the traditional banking systemOn-balance-sheet reserves: Backing reserves sit directly on the bank's balance sheet rather than with third-party custodians, reducing counterparty riskRegulatory framework: The stablecoin operates under laws designed specifically for payment stablecoins, not adapted money transmission regulationsNebraska's Digital Asset FrameworkTelcoin Digital Asset Bank received its charter under the Nebraska Financial Innovation Act of 2021. This law created a new category called digital asset depository institutions, which can custody digital assets, issue stablecoins, and process payments but cannot engage in traditional lending.
The framework requires institutions to maintain full reserves and meet strict capital standards. Telcoin raised approximately $25 million in October 2025 to meet these capitalization requirements.
How Does This Expand US Market Access?The Kraken listing provides a regulated on-ramp for U.S. users seeking exposure to $TEL. Before this listing, U.S. access to the token was more limited compared to international markets.
Trading begins at 14:00 UTC on January 22, with Kraken supporting standard trading pairs. The exchange serves millions of verified users in the United States and maintains registrations with federal agencies including FinCEN.
For Telcoin, the listing aligns with its broader push into regulated U.S. markets following the eUSD launch and Nebraska charter approval. The company operates under both state and federal oversight, including the federal GENIUS Act passed in mid-2025, which established national standards for payment stablecoins.
ConclusionTelcoin operates as the first U.S.-chartered digital asset bank with active stablecoin issuance capabilities on public blockchains. The platform maintains partnerships with over 200 mobile network operators across 171 countries and supports more than 2 million wallet users. Through its Nebraska charter, the company issues eUSD stablecoins on Ethereum and Polygon under full regulatory supervision, with $10 million currently in circulation. The Kraken listing provides regulated U.S. market access to $TEL, the native token that powers cross-border remittances and payments through Telcoin's telecommunications-based blockchain infrastructure.
ResourcesTelcoin on X: Posts (January, 2026)
Press release by Telcoin 1: Telcoin Begins Digital Asset Banking Operations with Launch of eUSD Stablecoin
Press release by Telcoin 2: Telcoin Makes U.S. Banking History with Approval to Launch the First Regulated Digital Asset Bank
Report by Fintech Global: Telcoin raises $25m to launch regulated digital asset bank
ALPACA po zalistování perpetual futures na Binance a WhiteBit vyskočila o více než 252 % z letošního minima. RSI na 86 a MFI na 97 ale ukazují na silně překoupený trh.
Alpaca Finance token experienced a significant surge this week, reaching a high of $0.227, the highest level since April 8.
ALPACA (ALPACA) rose by over 252% from its lowest point this year, making it one of the top-performing coins of the week. Its market cap climbed to over $37 million, while its 24-hour trading volume spiked to $142 million.
The token’s surge followed the listing of its perpetual futures on Binance, the largest centralized exchange in the industry. This listing potentially exposed the token to over 216 million users on the platform.
In addition to Binance, WhiteBit, a partner of FC Barcelona, also listed Alpaca Finance’s perpetual futures. According to WhiteBit’s website, it recorded a 24-hour trading volume of over $6.5 million.
Alpaca Finance is one of the top Decentralized Finance dApps in the BNB Smart Chain ecosystem with over $55 million in funds deployed across its V1 and V2 networks. It is an alternative to AAVE (AAVE) that lets people borrow and earn rewards.
It is common for altcoins to see substantial gains following their listing on major exchanges like Binance and Coinbase.
Alpaca token gets overbought Alpaca token price | Source: TradingView Alpaca’s price surge coincided with the convergence of two lines forming a falling wedge pattern, a technical setup that typically signals further upside potential.
The token broke above the key resistance level at $0.1940, the highest point on June 5, and surpassed both the 200-day and 50-day moving averages. This move indicates that bullish momentum is currently strong.
Alpaca reached a high of $0.2778, aligning with the weak, stop & reverse level of the Murrey Math Lines tool.
However, there are signs that it has gotten highly overbought. The Relative Strength Index rose to the extremely overbought point at 86 while the Money Flow Index indicator moved to 97.
While these overbought conditions reflect strong bullish momentum, they also suggest that a sharp reversal could occur as the initial excitement from the exchange listings fades. If a pullback happens, the key reference level to monitor would be $0.1940, which aligns with the major support/resistance pivot point of the Murrey Math Lines.
Alpaca Finance po čtyřech letech ukončuje leveraged yield farming, stablecoin služby i perpetual exchange. ALPACA po oznámení klesl téměř o 30 % na 0,1126 USD.
Once a top protocol on BNB Chain, Alpaca Finance will discontinue leveraged yield farming, stablecoin services, and its perpetual exchange by December.
Alpaca Finance, a decentralized finance project known for leveraged yield farming on BNB Chain, is shutting down after four years — and while the team says it’s the “most responsible” move for the community, the market didn’t take it well, with ALPACA (ALPACA) falling nearly 30% to $0.1126.
In a blog post late Monday, the Alpaca Finance team said it had made “the incredibly difficult decision to begin sunsetting Alpaca Finance and all of its products,” citing shrinking revenue, failed acquisition talks, and the recent delisting of ALPACA from Binance as reasons behind the move.
“This choice wasn’t made lightly, but we believe it is the most responsible course of action to safeguard our community and ensure a graceful and secure wind-down.”
The Alpaca Finance team
Alpaca Finance launched in early 2021 with a leveraged yield farming platform that gained traction on BNB Chain. Over time, the team introduced other products such as automated vaults, an AUSD stablecoin, and a perpetual trading platform dubbed “Alperp.”
However, the launch of concentrated liquidity AMMs “fundamentally shifted the landscape,” the team said, adding that “traditional leveraged yield farming became significantly less compelling and much more difficult to do profitably.”
The team also admitted it had “been operating at a loss for over two years,” even after downsizing, adding that continuing under these conditions “is simply not sustainable.” The Alpaca Finance team says it explored mergers and acquisitions but added that “these deals fell through” as the market weakened in early 2025.
The recent delisting of ALPACA from Binance “was another major blow,” as it “not only limits token accessibility but also restricts our ability to deploy our remaining warchest effectively toward any new initiatives,” the team wrote in the blog post. The shutdown will proceed gradually, with key deadlines set between June and December.
Chia Network pokročila k IPO a podle CEO Genea Hoffmana na konci března podala upravený důvěrný formulář S-1. Firma zatím nemá pevný termín a čeká na vhodné tržní podmínky.
Chia Network (XCH), which uses a novel consensus mechanism for running its blockchain, has made progress toward getting its stock trading through an initial public offering, its CEO said Thursday.
The company confidentially filed an amended S-1 form with the U.S. Securities and Exchange Commission at the end of March, after the regulators sent a comment letter to the company, CEO Gene Hoffman said at a conference hosted by law firm Brown Rudnick in Manhattan. However, there is still no firm timeline for the IPO since the company wants to wait for the right market conditions, he later told CoinDesk.
Chia revealed in April 2023 that it wanted to go public, though its IPO plans took a detour because of financial distress at Credit Suisse, its underwriter. That led to Chia laying off a third of its staff in October.
Chia was founded by Bram Cohen, who invented the BitTorrent peer-to-peer filesharing technology. Unlike Bitcoin, which uses proof-of-work to run its blockchain, and Ethereum, which uses proof-of-stake, Chia uses proof-of-space and proof-of-time, which, in short, involves the allocation of computer storage on machines around the world.
Hoffman said Chia is planning to roll out a bridge for Circle's USDC stablecoin in the coming months, as well as additional infrastructure projects.
Nvidia stále dominuje v AI: pohání 81 % z top 500 nejrychlejších superpočítačů na světě, tedy více než 400 systémů. I přes rostoucí konkurenci si drží jasné vedení.
Nvidia (NVDA 0.93%) has built an artificial intelligence (AI) empire, offering graphics processing units (GPUs) that power essential tasks like the training of AI models and providing a wide range of related products and services. All of this has sent earnings soaring in recent years -- and the stock price has followed.
Customers flock to Nvidia for these top AI products, and the company has consistently remained No. 1 in the AI chip market. In recent times, Nvidia says it also aims to lead in central processing units (CPUs), a market that's been dominated by Intel and Advanced Micro Devices. This represents a $200 billion opportunity, and Nvidia has said it's on track to accomplish this goal thanks to its first stand-alone CPU, launching later this year.
All of this sounds fantastic, but it's important to remember that Nvidia faces increasing competition from a variety of companies. Will this leader continue to dominate in AI? One number offers a strikingly clear answer.
Image source: Getty Images.
A history of GPU expertise First, let's start with a quick summary of the Nvidia story so far. The company has a long history of GPU expertise, with this chip first serving the gaming market. Nvidia still makes GPUs for gaming, but it has progressively expanded the uses of these high-powered chips over the years. Through the CUDA parallel computing platform, GPUs may be programmed for other needs, and the area of AI has proven to be particularly valuable.
Today, sales of GPUs to data center customers generate the lion's share of Nvidia's revenue. And this doesn't include chips only, but related products such as networking tools, so that Nvidia offers complete AI systems. The company has also designed offerings specifically suited to various industries -- for example, AI platforms that assist healthcare companies with drug discovery.
All of this has helped Nvidia's revenue climb in the double and triple digits in recent years, and it reached a new record of more than $215 billion in the latest fiscal year. In the first quarter of this year, earnings continued to climb, with revenue rising 85% to $81 billion, and net income advancing more than 200% to $58 billion.
So it's not surprising that Nvidia's stock price has also skyrocketed, climbing 900% over five years.
Today's Change
(
-0.93
%) $
-1.85
Current Price
$
198.19
Nvidia faces competition These points all offer us reason for optimism about the future, but we shouldn't ignore the fact that Nvidia faces growing competition. Fellow chip designers, such as AMD, or new-to-the-market players like Cerebras Systems, aim to take market share. And even some of Nvidia's customers might represent a threat as they're designing their own chips. Amazon is a good example. The company has seen such demand for its own chips that it may even consider creating a separate chip business.
Now, let's consider our question: Will Nvidia continue to dominate in AI as the competition mounts and customers are served with more and more options?
One particular number offers a strikingly clear answer. Almost nine of every 10 systems new to the world's fastest supercomputer list are built on Nvidia, according to the latest rankings. This clearly shows that customers continue to turn to Nvidia -- so even though there is plenty of business for rivals to succeed too, so far this hasn't come even close to threatening Nvidia's leadership position.
The data revealed that Nvidia powers 81% -- or more than 400 -- of the world's top 500 fastest supercomputers. This is an increase of 17 systems from the last report, according to Nvidia. The list is updated twice a year.
Moving forward, Nvidia's new presence in CPUs may help it gain even more ground, as it now offers another key element, particularly in the phase of agentic AI. CPUs are the main chips that help guide AI agents as they take action to handle a problem on behalf of humans.
All of this means that, though Nvidia faces competition, customers still see the value of choosing this leader -- and the company's focus on innovation should keep this going. And that's excellent news for investors who've chosen to buy and hold Nvidia for the long term.
Reward pool NovaBox na Ethereu byl napaden a útočníci odcizili zhruba 56,73 ETH. Incident zasáhl přes 130 vkladatelů a souvisel s chybou v mechanismu rozdělování odměn.
PANews reported on June 11 that, according to Bits.media, the NovaBox platform's reward pool was hacked on Ethereum on June 9, resulting in the loss of approximately 56.73 ETH, affecting over 130 depositors. The attackers drained the pool from 65.11 ETH to 0.09 ETH in a single transaction, representing approximately 99.86% of the total. Security firm F12 stated that the incident was not due to a smart contract vulnerability, but rather a flaw in the reward distribution mechanism.
The attacker borrowed 427.5 WETH through an Aave V3 flash loan, exploiting a vulnerability in NovaBox's mechanism where dividends are paid out before the balance is updated upon user deposits and withdrawals. The hacker first deposited a small amount of NOVA tokens to trigger dividend calculation, then deposited a large amount of ETH, significantly increasing the actual share. However, because the system failed to update the balance in time, dividends were still calculated based on the previous small share, but were paid out based on the new large share, resulting in a "phantom dividend" of approximately 145.82 ETH, thus depleting the reward pool.
MEV bot JaredFromSubway byl podle Blockaid vyprázdněn přes falešné tokeny a otevřená schválení, která útočník zneužil k odčerpání asi 7,5 milionu USD. Bot později tvrdil ztrátu 15 milionů USD.
Ethereum’s well-known MEV bot JaredFromSubway was drained after an attacker used contracts that made its automated trading system grant token approvals, according to Blockaid.
Summary
Blockaid says attacker-controlled contracts tricked JaredFromSubway’s automated system into granting approvals later used for draining. Jared publicly claimed a $15 million loss, while Blockaid’s public estimate stood near $7.5 million. Crypto.news previously tied JaredFromSubway to Vitalik Buterin’s swap and heavy Ethereum gas use in 2023. The security firm said the incident was not a normal phishing case and not a direct bug in the victim contract.
“This is not a classic phishing attack and not a traditional smart-contract vulnerability in the victim contract,” Blockaid said.
The firm said the bot approved attacker-controlled contracts during routes that appeared to be profitable MEV trades.
Blockaid says approvals stayed open Blockaid said the attacker first tested routes where approvals were used at once, leaving no open allowance. Later, the attacker changed the route design so the bot gave approvals that were not spent or revoked.
One example cited by Blockaid involved an approval of about 92.16 WETH to an attacker helper contract. Etherscan data for the transaction showed jaredfromsubway.eth interacting with its MEV Bot 2 contract before the later sweep. The transaction record also showed ERC-20 movements tied to the same automated route.
Final sweep hit WETH, USDC and USDT The final transaction used the open approvals to pull WETH, USDC and USDT from the JaredFromSubway MEV bot contract through transferFrom. Etherscan showed transfers from “jaredfromsubway: MEV Bot 2” to the attacker wallet beginning with 0x3e37.
Blockaid put the drained amount at about $7.5 million. The JaredFromSubway account later claimed the loss was $15 million and offered a $1 million bounty for the full return of the funds. That difference has not been fully explained in the public posts reviewed.
How the attacker turned the bot’s logic against it The attack appears to have targeted the bot’s own trading workflow. MEV bots watch Ethereum activity and act on transactions that look profitable. In this case, attacker-controlled contracts made the route look useful enough for the bot to approve spending rights.
The attacker used 66 fake token contracts that copied the look and function of WETH, USDC and USDT. These contracts were paired with fake liquidity pools. The setup pushed the bot toward approvals that later became the path for the drain.
JaredFromSubway’s record is back in focus JaredFromSubway is one of Ethereum’s most watched sandwich bots. In a sandwich attack, a bot places trades before and after a user’s swap. This can give the user a worse price while the bot captures the spread.
As previously reported by crypto.news, JaredFromSubway targeted a small swap by Ethereum co-founder Vitalik Buterin in April, using about $1.14 million in WETH volume across SushiSwap and Uniswap V2. Crypto.news also reported in 2023 that the bot used 455 ETH in gas within 24 hours and accounted for about 7% of Ethereum gas use during that period.
The exploit now puts attention on token approvals used by automated systems. The case shows how a system built to act quickly on open market data can be steered into unsafe permissions when controls around approvals are weak. It also adds a new chapter to the wider debate over MEV, sandwich trades and user protection on Ethereum.
For now, the key public details remain split between Blockaid’s technical thread, the on-chain records and posts from the JaredFromSubway account. No recovery had been confirmed in the reviewed updates.
Leading US-based crypto exchange platform Coinbase is listing “the world’s lightest blockchain” after a two-week delay.
News of the listing sent Mina Protocol (MINA), a privacy-focused payments protocol clocking in at a size of just 22 kilobytes, surging from its 24-hour low of $3.04 to $3.48, a 14.5% increase.
[adinserter block="1"]
According to the crypto project’s website, MINA’s small size allows anyone to connect to the internet using their smartphone to validate the blockchain’s transactions. Mina protocol uses zero-knowledge (ZK) proofs to secure user data while executing smart contracts.
ZK proofs allow one party to prove to a validator that a specific statement is true without giving out any extra irrelevant information.
MINA was initially set to launch two weeks ago but was met with delays. News of the original launch sent the smart contract platform surging from $2.16 to $2.71, a 25.4% increase.
Coinbase says that the ability to buy and sell the lightweight blockchain was pushed back in order to ensure the launch would be successful.
“In order to have full confidence in a successful launch of MINA, we have made the decision to continue to delay the launch of trading.”
Yesterday, Coinbase announced that trading MINA would begin as long as proper liquidity conditions were met. Those conditions were met and MINA was officially launched for trading on the exchange today as a result.
Mina Protocol has since stabilized and is exchanging hands at $3.22 at time of writing.
Copper nově nabízí úschovu a staking pro Mina Protocol (MINA), čímž rozšiřuje možnosti pro institucionální investory. Integrace umožní oprávněným klientům zapojit se do ekosystému přes infrastrukturu Copper.
Digital assets custody and collateral management provider Copper now offers custody and staking support for Mina Protocol.
Copper.co announced its support for Mina Protocol (MINA) on Aug. 21, noting that support for the zero-knowledge blockchain platform’s native token expands digital asset options for institutional investors.
The integration will allow eligible clients to participate in the Mina Protocol ecosystem through Copper’s infrastructure.
Targeting institutional investors Founded in 2018, Copper is a platform that seeks to offer institutional investors access and exposure to the digital assets market. The platform provided an MPC wallet and launched its off-exchange settlement solution, ClearLoop, in 2020.
ClearLoop allows users to manage digital asset collateral and settle trades across major crypto exchanges without moving assets off Copper’s wallet.
According to the London-based company, adding MINA staking allows for increased adoption of ZK technology.
“The addition of Copper’s custody solution gives professional and institutional entities more options to diversify their crypto participation with MINA. We hope that it will also raise awareness of institutional use cases for ZK technology, such as zk-KYC credentials that help address compliance without sacrificing user privacy,”
Kurt Hemecker, chief executive officer of Mina Foundation
Copper co-founder and chief executive Dmitry Tokarev commented that crypto and blockchain are at a “pivotal moment for institutional adoption.”
Tokarev added that the U.S. Securities and Exchange Commission’s approval of Ethereum ETFs in May and launch of trading in July has accelerated interest. As a result, the ecosystem is seeing increased demand for reliable tools through which institutional investors can gain exposure to cryptocurrencies.
Copper’s recent partnerships Copper recently partnered with Hedera (HBAR) to expand institutional access to the proof-of-stake network’s native token. The integration allows investors to leverage Copper Connect and Hedera protocols such as SaucerSwap to participate in the HBAR and Hedera Token Service utility.
Copper expanded its custody and staking service to Internet Computer (ICP) in July.
Terraform Labs, the entity responsible for the now-defunct TerraUSD (UST) stablecoin, has initiated bankruptcy proceedings in the United States.
The company filed for Chapter 11 bankruptcy protection at the United States Bankruptcy Court for the District of Delaware, indicating estimated liabilities and assets ranging from $100 million to $500 million, as per a January 21 filing.
In a separate statement, Chris Amani, the CEO of Terraform Labs, stated, “The Terra community and ecosystem have shown unprecedented resilience in the face of adversity, and this action is necessary to allow us to continue working toward our collective goals while resolving the legal challenges that remain outstanding.
We have overcome significant challenges before and, against long odds, the ecosystem survived and even grew in new ways post-depeg; we look forward to the successful resolution of the outstanding legal proceedings.”
According to the bankruptcy filing, the defunct company’s liabilities and assets both fall within the range of $100 million to $500 million.
READ MORE: Bitcoin ETFs: Game Changer or Threat to Crypto’s Core Principles?
This development comes just four days after the U.S. Securities and Exchange Commission (SEC) granted a postponement of Kwon’s upcoming fraud trial until March 25 in response to a request from his legal team.
The Terra ecosystem, overseen by Kwon, experienced a collapse in May 2022.
Following the firm’s implosion, the whereabouts of its co-founder remained unknown until he was apprehended in Montenegro in March 2023 for attempting to use forged travel documents to leave the country.
The SEC initially filed civil charges against Terraform Labs and Kwon in February 2023, accusing both parties of orchestrating a “multi-billion dollar crypto asset securities fraud” linked to the tokens previously known as UST and Terra (LUNA).
The United States and South Korea are both seeking Kwon’s extradition, sparking speculation that he could face multiple sentences in both nations.
Should Kwon be extradited to South Korea, he might potentially confront a 40-year imprisonment sentence in the country where the majority of his alleged crimes were committed.
Discover the Crypto Intelligence Blockchain Council
No information published in Crypto Intelligence News constitutes financial advice; crypto investments are high-risk and speculative in nature.
FalconX má koupit 21Shares, jednoho z největších správců digitálních burzovně obchodovaných produktů (ETP). Společnost se zaměří na deriváty a strukturované krypto fondy.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Wednesday! Bitcoin's fall below $100,000 by this weekend "seems inevitable," at least according to Standard Chartered’s Geoffrey Kendrick.
In today's newsletter, crypto prime broker FalconX will acquire 21Shares, MegaETH announced a public MEGA token sale at a $1 million fully diluted valuation, the SEC and CFTC are pushing to get crypto initiatives done before the end of the year, and more.
Meanwhile, institution-focused Layer 1 Kadena is winding down operations.
Let's get started!
P.S. CryptoIQ is now available to everyone. Take the test for a chance to win $20,000!
Prime broker FalconX to buy 21Shares amid crypto M&A spree: report FalconX, a U.S.-based institutional crypto prime broker, has agreed to acquire 21Shares, one of the largest managers of exchange-traded products for digital assets, The Wall Street Journal reported on Wednesday. 21Shares is known for its broad suite of ETPs and single-asset products, including over $11 billion in assets across bitcoin and ether ETPs and other token-specific and basket offerings in Europe, the U.S., and other jurisdictions. FalconX’s acquisition comes on the heels of the firm's push into institutional derivatives last month, beginning with its 24/7 over-the-counter options platform supporting Bitcoin, Ethereum, Solana, and other tokens. The combined company will focus on derivatives and structured crypto funds, leveraging 21Shares’ distribution and ETP expertise with FalconX’s trading and prime-brokerage infrastructure. MegaETH to offer 5% of its total MEGA supply in English auction at baseline $1 million fully diluted valuation Ethereum scaling solution MegaETH plans to sell 5% of its total token supply in a three-day English auction beginning Oct. 27 using the crypto crowdfunding platform Sonar, which was recently acquired by Coinbase. The project will unlock 500 million tokens for the public sale, initially priced at $0.0001 and gradually scaling to $0.0999 per token as demand increases. Additionally, MegaLabs is instituting a "bimodal allocation" model that ensures core MegaETH supporters will receive tokens if the sale is oversubscribed. Buyers, limited to verified accredited U.S. persons and verified non-U.S. persons, can choose to lock up their allocations for one year to receive a 10% discount, according to an FAQ. Kadena winds down operations, KDA token drops 60% The organization behind the Kadena blockchain is winding down, effective immediately, as it is "no longer able to continue business operations" due to market conditions, the team announced Tuesday. "We are tremendously grateful to everybody who has participated in this journey with us. We regret that because of market conditions, we are unable to continue to promote and support the adoption of this unique decentralized offering," the Kadena team said on X. Kadena’s native KDA token dropped over 59% immediately following the announcement and is currently trading at $0.068, down significantly from an all-time high above $27 in late 2021. The blockchain was created in 2019 by two U.S. Securities and Exchange Commission and JPMorgan alums, Stuart Popejoy and William Martino, with the aim of attracting institutional interest. SEC, CFTC target end-of-year milestones for crypto oversight amid government shutdown The Commodity Futures Trading Commission and Securities and Exchange Commission are pushing to complete their end-of-year crypto goals, particularly priorities set out in a report released by the White House over the summer. These priorities include SEC-enforced safe-harbors for crypto and the establishment of "fit-for-purpose" registration exemptions for securities distributions, while granting the CFTC the authority to "regulate spot markets in non-security digital assets." Additionally, CFTC Acting Chair Pham said the agency is prioritizing crypto trading and "tokenized collateral" by the end of 2025. The move comes as lawmakers in Washington D.C., work to draft and advance market structure legislation that would write rules for crypto at large, including designations for what parts of the industry will fall under CFTC or SEC remit. 'Total land rush': Bitcoin, Solana lead the way with over 150 crypto ETF filings awaiting review There are 155 cryptocurrency-based exchange-traded product filings awaiting SEC review, according to Bloomberg.
As of Oct. 20, this includes 23 products tracking Bitcoin and Solana, 20 tracking XRP, and 16 tracking Ethereum. Although the U.S. government shutdown that began on Oct. 1 has slowed the SEC's review process, experts are optimistic that approval is imminent. Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
Kadena okamžitě ukončuje veškerou obchodní činnost i aktivní údržbu blockchainu kvůli nepříznivým tržním podmínkám. KDA a protokol mají pokračovat dál.
The Kadena organization said that it is no longer able to continue business operations and will be “ceasing all business activity” as well as any active maintenance of the Kadena blockchain with immediate effect.
The Kadena organization said they are winding down operations because of market conditions and are unable to continue to promote and support the adoption of this “decentralized offering.”
The organization also mentioned that they have notified staff that they will be ceasing operations. They will be retaining a small team for managing this period of transition and wind-down process.
As clarified in the update, the Kadena blockchain is “not owned or operated by the company.”
As a so-called “decentralized” proof-of-work smart-contract blockchain, the network is said to be “operated by independent miners, while on-chain smart contracts and protocols are governed independently by their maintainers.”
To ensure operational continuity, they will offer a new binary that will aim to enable “uninterrupted operation without their involvement, and will be encouraging all node operators to upgrade as soon as possible.”
As for the KDA token and protocol, it will also “continue in their absence.”
As noted in their latest token economic update, more than 566 million KDA remain to be distributed “as mining rewards, continuing until 2139, while the platform emission has 83.7 million KDA coming out of lockup until November 2029.”
They are now ready to engage with the Kadena community to discuss how they can aid the ongoing transition to “community governance and maintenance.”
Kadena, the first blockchain tech-focused firm to come out of J.P. Morgan’s Blockchain Center for Excellence, had reported in August 2020 that they had performed major updates to their scalable layer-1 public blockchain network.
Kadena’s developers claimed that they had one of the fastest blockchain platforms in the world claiming to be able to process 480,000 transactions per second.
In an interview with CI back in August of 2020, Kadena Co-Founder and President Stuart Popejoy, had explained in detail how the Kadena platform has been developed to support various decentralized applications (dApps) including the DeFi apps.
It’s worth noting that projects like Kadena may have experienced challenges due to increasing competition from many other initiatives that aim to serve similar markets and use-cases. It requires considerable resources to support a blockchain-based ecosystem and may not be sustainable like the case seems to be with Kadena. As the crypto ecosystem matures, there could be many other projects announcing their intentions to close down operations. There will most likely also be many mergers, acquisitions, and other ways the industry could become more consolidate moving forward.
IoTeX uvedl, že po útoku na ioTube je přes 86 % CIOTX zamčeno nebo zmrazeno a jen 0,4 % zůstává v ohrožení. Útočníci odcizili 410 milionů CIOTX a asi 4,4 milionu USD v aktivech.
PANews reported on February 23 that the IoTeX team tweeted that on February 21, they discovered an attack on the Ethereum side of their multi-chain bridge ioTube. The attackers stole 410 million CIOTX tokens and approximately $4.4 million in assets through four steps. Currently, over 86% of the CIOTX has been locked or frozen, 12.8% (52.4 million CIOTX) is being frozen in cooperation with Binance and other platforms, and only 0.4% (1.7 million CIOTX) remains at risk after being exchanged on DEXs. Regarding the bridge's reserve funds, the attackers exchanged the stolen reserve tokens (including USDC, USDT, WBTC, WETH, and other assets) for approximately 2,183 ETH . Of this, 1,572 ETH has been transferred to the Bitcoin network via THORChain.
The IoTeX team has taken emergency measures, including distributing patch fixes, freezing related addresses, and working with exchanges to freeze funds. The ioTube bridge service will be restored after an independent security audit, along with a compensation plan and security upgrades. The team is committed to ensuring the safety of community assets and will release a more detailed compensation plan and hold a community AMA within the next 48 hours.
Previously reported, IoTeX suffered a loss of approximately $2 million in assets and is expected to be operational within 48 hours . Upbit has added IoTeX (IOTX) to its transaction alert list .
IoTeX nabízí hackerovi 10% odměnu, tedy asi 440 000 USD, pokud do 48 hodin vrátí zhruba 4,4 milionu USD získaných při exploitu bridge ioTube. Firma tvrdí, že její Layer 1 zasažen nebyl.
Updated Feb 23, 2026, 11:23 p.m. Published Feb 23, 2026, 9:18 p.m.
4 min read
Nearly $400 million was lost to crypto exploits in January 2026 alone, according to industry estimates. (Photo by Joshua Michaels on Unsplash/Modified by CoinDesk)Summary
IoTeX is offering a 10% white-hat bounty, about $440,000, and a promise not to pursue legal action if hackers return roughly $4.4 million stolen from its ioTube cross-chain bridge within 48 hours.The Feb. 21 exploit stemmed from a compromised validator owner private key on the Ethereum side of the ioTube bridge, which IoTeX and outside experts describe as an operational security failure rather than a flaw in the Layer 1 blockchain or its smart contracts.IoTeX traced the stolen funds across chains, identified bitcoin addresses holding about 66.6 BTC, and is rolling out a mainnet upgrade with a default blacklist of malicious addresses, but experts warn that assets already swapped and bridged may be difficult or unlikely to recover.IoTeX, a blockchain project focused on Internet-of-Things devices, offered a 10% white-hat bounty to the hacker or hackers who exploited a private key on its cross-chain bridge ioTube, siphoning millions of dollars, in exchange for the voluntary return of funds within 48 hours.
With this move, IoTeX is offering the $440,000 if the malicious actor or actors return roughly $4.4 million they stole, according to an IoTeX X post, to which IoTeX co-founder and CEO Raullen Chai pointed “as a source of truth” on Monday.
A number of crypto projects have offered similar 10% bounties to hackers after being breached. Hackers sometime return funds in exchange for this bounty.
Chai told CoinDesk that the team sent an onchain message offering not to pursue legal action or share identifying information with law enforcement if the remaining funds are returned.
“This is regarding the ioTube bridge exploit on Feb. 21, 2026,” Chai said in the message. “All fund movements across Ethereum, IoTeX, and bitcoin have been fully traced.”
The message states that exchange deposits have been flagged and frozen and offers a 10% bounty for the return of remaining funds.
Chai also said IoTeX is rolling out a new chain version, Mainnet v2.3.4, requiring node operators to upgrade. The update includes a default blacklist of malicious externally owned account (EOA) addresses.
“This blacklist contains a list of malicious or problematic EOA addresses that will be filtered by the node,” Chai said.
The offer comes after a Feb. 21 exploit in which a compromised validator owner private key enabled unauthorized control over ioTube’s bridge contracts.
IoTeX said the incident is “under control,” saying that its Layer 1 blockchain was not affected and that the breach was isolated to the Ethereum-side infrastructure of the bridge.
The IOTX token fell roughly 22% following the exploit, dropping from $0.0054 to below $0.0042 before partially rebounding.
Cross-chain bridges have been one of crypto’s main failure points, with several high-profile exploits in recent years. According to industry reports, more than $3.2 billion has been lost due to cross-chain bridge hacks, making them a prime target for advanced threat actors.
Responsibility and key controlIoTeX framed the exploit as an operational issue specific to the bridge rather than a failure of its Layer 1 network.
“IoTube is IoTeX’s own cross-chain bridge built and maintained by their team,” Nick Motz, CEO of ORQO Group and CIO of Soil, told CoinDesk. “The breach came down to a compromised validator owner private key on the Ethereum side, which is fundamentally an operational security failure, not a smart contract vulnerability discovered by an outside actor.”
Motz agreed that IoTeX’s Layer 1 was not compromised but said user funds were entrusted specifically to the bridge.
“When you build and operate the bridge infrastructure and the key management is what fails, it’s difficult to separate yourself from that outcome,” he said.
Nanak Nihal Khalsa, co-founder of human.tech, said responsibility in crypto often comes down to key custody.
“Yes, whoever holds the private key is responsible for securing it,” Khalsa said. “Is that a reasonable responsibility? It’s hard to say. But that’s how the industry works right now.”
He added that liability norms remain unsettled compared to traditional finance and called for stronger wallet and multisig setups to reduce similar risks.
The estimates divergeOn-chain analysis by security firm PeckShield estimated more than $8 million worth of assets were affected, saying the attacker swapped funds into ether (ETH) and began bridging them to bitcoin BTC$61,650.42 via THORChain.
“The hacker has swapped the stolen funds to $ETH and has started bridging them to #BTC via #Thorchain,” the firm wrote.
Another onchain investigator, Specter, said on X that “the private key of @iotex_io may have been compromised,” resulting in an estimated $4.3 million loss.
“Once assets are routed through THORChain […] recovery becomes extremely difficult,” Motz said.
IoTeX said it has identified four bitcoin addresses holding 66.78 BTC worth roughly $4.3 million at current prices and that the addresses are being monitored in cooperation with exchanges.
A CoinDesk review of those addresses on Feb. 23 confirmed they held roughly 66.6 BTC.
IoTeX did not immediately respond to CoinDesk’s request for comment.
“Containment is not the same as recovery,” he added. “The assets with actual market value were swapped and bridged. Those are, in my assessment, unlikely to be recovered.”
Khalsa similarly cautioned that recovery prospects are uncertain. “It’s hard to predict how much, if any, can be recovered,” he said.
IoTeX revised its figure upward to approximately $4.3 million, reflecting the direct asset drain but excluding minted tokens. Motz said broader estimates may better capture the severity of the breach.
“Private key compromise rather than smart contract bugs is emerging as a dominant attack vector,” Motz said, noting that such incidents target operational security rather than audited code.
Before offering the 10% bounty, IoTeX said a compensation plan would be in place within the next 48 hours.
UPDATE (Feb. 23, 2026, 23:21 UTC): Adds context on bounties offered after hacks.
VVS Finance spustila funkci Auto Harvest pro Crypto.com Prepaid Card, která denně převádí odměny z yield farmingu po dosažení minima 6 USD do USDC nebo místní fiat měny a posílá je na kartu. Ruční claimy zůstávají bez poplatku.
VVS Finance today rolled out Auto Harvest—a game‑changer for anyone who’s been farming yield on Cronos and wondering how to spend those rewards without jumping through hoops. If you hold a Crypto.com Prepaid Card, you can now set things on autopilot: your VVS farming rewards (once they hit a $6 minimum) get swept up every day, converted into USDC (or your local fiat equivalent), and dropped straight onto your card.
No more manually harvesting, swapping tokens, or waiting for transfers to clear. It all happens behind the scenes, so you can wake up to a little extra spending power: coffee, groceries, whatever you like. And if you ever want to grab your rewards yourself, you still can—manual claims are fee‑free.
Esther Wong from Crypto.com puts it simply: “The Crypto.com Prepaid Card is a vital bridge between the fiat and crypto worlds and a stepping stone to participating in decentralized finance. The launch of Auto Harvest reinforces this by allowing VVS Finance users to automatically claim their yield farming rewards and seamlessly use them to enable spending on everyday goods and services.”
Cronos Labs’ Mirko Zhao is just as excited: “VVS Finance’s Auto Harvest feature shows that what happens on Cronos chain doesn’t have to stay on Cronos chain. Its native integration with Crypto.com Prepaid Card gives Cronos users the freedom to claim their yield farming rewards and decide where to utilize them – for other DeFi purposes onchain, or to cash them out to their prepaid card.”
And from VVS Finance’s side, Product Lead Yotei calls Auto Harvest a breakthrough. Yotei said, “The launch of Auto Harvest seamlessly connects DeFi and CeFi, making it easy for VVS users to claim rewards and immediately allocate them for everyday spending. It’s a breakthrough in making decentralized finance accessible to mainstream users, who can seamlessly claim their rewards and convert tokens with zero friction.”
Seamless Off‑Ramp This isn’t just a nice convenience feature. It shows how quickly DeFi tools are evolving to meet regular people’s needs, not just hardcore traders. VVS Finance has built a broad DeFi hub on Cronos—trading, staking, perpetuals, you name it—and now, with Auto Harvest, it’s easier than ever to turn yield farming into real‑world buying power.
Cronos itself is on the rise: three blockchains (EVM, POS, zkEVM), 500+ apps, over 100 million potential users, and more than $6 billion locked in assets. Since 2021, it’s handled 100 million transactions, and its accelerator, Cronos Labs, has seeded projects with $100 million to spur growth in DeFi and gaming.
Crypto.com, the home of the prepaid card, is no slouch either—six‑year‑old, 140 million customers, and a reputation for nailing security and compliance. Their mantra, “Cryptocurrency in Every Wallet,” feels a lot more attainable now that your yield farming earnings can be spent as easily as your paycheck. In short: if you’ve been farming VVS tokens and keeping your eye on the prize, Auto Harvest just made that prize a lot more tangible—and a lot closer to your next latte.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
Filipínská SEC varuje před dYdX a šesti dalšími kryptoplatformami bez registrace či povolení k nabízení investic v zemi. Upozorňuje i na možné trestní postihy pro jejich propagátory.
The Philippine Securities and Exchange Commission (SEC) has issued a public investor alert warning Filipinos not to invest in dYdX and six other crypto trading platforms, saying they are not registered or authorized to solicit investments in the country.
In a Facebook post on Tuesday, the SEC named dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv and Ostium, stating that based on its findings, the platforms appear to be offering investments to the public in exchange for promised returns, profits or interest.
The regulator said none of the listed entities are registered with the Commission or hold the required authorization under its crypto-asset service provider (CASP) framework, which requires firms offering crypto-related services in the Philippines to obtain licenses and meet capital and operational requirements.
The SEC also warned that individuals promoting any of the listed platforms in the Philippines may face criminal liability under the Securities Regulation Code. Under Sections 28 and 73 of the law, violators could be fined up to 5 million Philippine pesos (about $89,000) or imprisoned for up to 21 years, or both.
The advisory highlights a broader shift toward stricter enforcement in the Philippines, where regulators have increasingly moved from warnings to access restrictions. On Dec. 24, 2025, Philippine regulators blocked Coinbase and Gemini as part of their broader crackdown on unlicensed CASPs.
Philippine SEC advisory against dYdX. Source: Philippine SEC
Broader crackdown on unlicensed crypto operatorsThe latest advisory comes as Philippine regulators continue to step up enforcement against crypto platforms operating without local authorization.
In 2024, authorities moved to block access to Binance after a compliance deadline expired, with regulators also directing app stores to remove the trading platform’s app from users’ devices in the country.
The crackdown has since expanded to include other major platforms. In August 2025, the SEC issued an advisory naming 10 exchanges, including OKX, Bybit, KuCoin and Kraken, for offering crypto services without registration, warning that their activities exposed Filipino investors to risks.
While regulators have targeted unlicensed operators, compliant firms have continued rolling out crypto products. In 2025, PDAX partnered with Toku to enable stablecoin salary payouts, while digital bank GoTyme launched crypto services with Alpaca, allowing users to buy and hold digital assets within its app.
Magazine: Telegram avoids Philippines ban, yen carry trade going onchain: Asia Express
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.
Micron oznámil 16 zákazníků s 22 miliardami USD v zálohách v hotovosti a pětiletými take-or-pay kontrakty, což zvedlo akcie a zastavilo výprodej čipů. Firma zároveň uvedla, že napjatá nabídka potrvá i po roce 2027.
Tuesday’s Sellers Have a Problem Now Tuesday’s 13% decline and Wednesday’s follow-through looked like the start of a real reassessment of chip valuations. Then Micron reported after the close and the after-hours move erased the entire two-day selloff and put the stock above the June 22 high. Every fund that sold chips Tuesday is staring at a gap higher Thursday morning with a decision to make.
The question driving the selloff was whether AI spending was getting ahead of itself. Micron’s CEO Sanjay Mehrotra’s answer was sixteen customers putting down $22 billion in cash deposits and locking into five-year take-or-pay contracts with pricing floors. Data center, consumer electronics, automotive buyers, all fighting for the same allocation. The remaining obligations tied to those deals run to roughly $100 billion. That is not a forecast number. That is revenue on the books.
Qualcomm muddied it slightly. The company said this week its new AI chips are designed to run with less expensive memory, and if competing architectures reduce the premium on high-bandwidth memory over time, Micron’s margins face a question that is not going away. Mehrotra pointed back at the contracts. Buyers are locking in at current pricing because they do not believe alternatives show up at scale, and the way I see it, $22 billion in cash deposits is a stronger argument than a product announcement from a competitor.
The stock tripled in 2026 on the AI trade before this week’s selloff. Now it has $100 billion in contracted obligations underneath. Micron is the only U.S. company producing the high-bandwidth memory that runs alongside Nvidia’s processors in AI servers, and CEO Mehrotra said supply stays tight past 2027. New fabs take years to build. Every major AI buyer just committed in writing. The bears need to explain what changes that picture and they do not have an answer yet.
My Neighbor Alice spouští $ALICE airdropovou akci s odměnami v hodnotě 25 tisíc dolarů před startem Beta Season 2. První ze tří vln začne 16. září a potrvá devět týdnů.
There will be an airdrop offering participants $25K in $ALICE tokens along with additional incentives. The three waves of the $ALICE Airdrop Party will begin on September 16 and last for a total of nine weeks. The first airdrop campaign and the new season campaign have been announced by multiplayer builder game that was formerly the year’s top project on Binance My Neighbor Alice. Prior to Beta Season 2, which is scheduled to begin on September 24, there will be an airdrop offering participants $25K in $ALICE tokens along with additional incentives.
My Neighbor Alice has launched a rewards board in honor of the next beta season, which offers chances to interact with other users and get rewards for participating in quests. $ALICE Airdrop Party, the first rewards campaign to be launched, commemorates the start of the new beta season.
The three waves of the $ALICE Airdrop Party will begin on September 16 and last for a total of nine weeks. Players have a variety of in-game and off-game missions to complete during the campaign. Participants will get unique access to live events and limited edition NFTs in addition to sharing $25K worth of ALICE tokens.
There are several campaigns planned, the first of which is the $ALICE Airdrop Party. The Rewards board acts as a dashboard for tracking individual achievements and determining rewards. Campaigns give the most devoted members of the community something back and provide another reason to play My Neighbor Alice.
Riccardo Sibani, Chief Product Officer at My Neighbor Alice, said: “
Since launching three years ago, we’ve been constantly developing My Neighbor Alice to enhance gameplay, fully decentralize, and provide fun ways for players to share their progress and unlock additional rewards. The $ALICE Airdrop Party provides a taster of what’s to come in Beta Season 2, during which players will be treated to a host of new features and in-game experiences.”
With additional crafting stations, objectives, and levels to explore, Beta Season 2 will improve the gameplay immensely. In addition to freely exchanging goods and resources via the P2P marketplace, players may gather unique emotes and use them to enhance their social interactions inside the game.
One of the upcoming features that is now being developed is the capacity to invite other gamers to collaborate inside the same land plot. Additionally, a decentralized NFT bridge that enables in-game ERC721 token trading as well as the release of a User-Generated Content Tool that will enable content producers to create in-game content are planned.
An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.
My Neighbor Alice se po spuštění mainnetu Chromia stává první plně on-chain a decentralizovanou hrou bez centrálních serverů. Nová beta sezóna má odstartovat 24. září.
Chromia successfully launched its mainnet in July, which was a major turning point in the development of blockchain technology. With its introduction on the Chromia Mainnet, My Neighbor Alice will become the first entirely on-chain game. This breakthrough paves the way for an exciting new chapter in the game’s history. The new beta season of My Neighbor Alice, which is set to launch on September 24th, has been revealed by the Binance Project of the year 2021. It will be the first to run on the Chromia Mainnet, giving players an even more dependable and scalable gaming experience. Additionally, it will be the first completely decentralized and on-chain game ever.
A Journey to Mainnet: Development Process and Blockchain Integration The early Alpha Seasons of My Neighbor Alice served as a milestone in the route to Mainnet launch, focusing on making sure the blockchain infrastructure and underlying technologies are fully functioning, scalable, and decentralized. The blockchain needed to be stress-tested in these early phases to make sure it could manage a large number of transactions and yet provide a seamless gaming experience.
Incorporating suggestions from the core community throughout this round of the “Road to Decentralization” allowed My Neighbor Alice to create a more improved game while maintaining the stability and security of the blockchain.
Mainnet and its Impact on My Neighbor Alice My Neighbor Alice is making a significant advancement in their ongoing journey with the launch of the mainnet. On Chromia, the game is now completely decentralized. Thus, becoming the first game without centralized servers that hosts all game logic on-chain. This is a major advancement for Web3 gaming, demonstrating what is feasible and establishing a new benchmark for the sector.
Riccardo Sibani, Chief Product Officer at My Neighbor Alice stated:
“We built, delivered, and are moving forward, continuing to improve both the game and the technology behind it.”
This move guarantees that the game now runs on a very reliable and secure blockchain, even if it is still in the Beta stage and is still testing new features.
The Chromia blockchain not only hosts all data on-chain and makes My Neighbor Alice the first fully decentralized game, but it also provides developers and gamers with additional features like gasless transactions, advanced querying, and giving each dapp its own chain to ensure scalable and quick transactions.
“We are thrilled to see My Neighbor Alice launch on mainnet, and push the boundaries of Web3 gaming. They have been building both the game and community for a long time and we are excited to see how the game will evolve on mainnet” says Chromia co-founder Henrik Hjelte.
A crypto enthusiast. Loves to write. Gives full dedication to every task assigned. Specializes in delivering on tight deadlines. An animal lover, especially dogs.
Pudgy Penguins se integrují do My Neighbor Alice a držitelé NFT získají exkluzivní oblast Pudgy Land ve Snowflake Wilds. Hráči tam budou moci questovat, craftit a propojovat své NFT přímo ve hře.
The multiplayer game is creating a new winter wonderland zone for everyone and a private enclave for owners of the popular NFTs.
Pudgy Penguins are getting their metaverse on again.
Not satisfied with staying confined to their own Pudgy World metaverse, Pudgy Penguins are expanding into a new virtual world, according to a press release shared with The Defiant. The beloved NFT brand is integrating with My Neighbor Alice, a web3 multiplayer game, as part of a broader partnership.
A core part of the partnership is a special zone in the game built for Pudgy Penguin NFT collection holders. My Neighbor Alice will feature a special Pudgy Land region in its new Snowflake Wilds, “a frosty, feel-good winter wonderland” area of the game.
While Snowflake Wilds are open to everyone, Pudgy Land is exclusively for owners of Pudgy Penguin NFTs, including Lil Pudgys and Pudgy Rod collection holders. Pudgy Land is a part of the game “where the community can hang out, quest, craft, and connect,” according to the press release.
Holders of Pudgy Penguins and Lil Pudgys will enter the game with their NFT as an egg that hatches to become their specific NFT. Holders of Pudgy Rods, which are fishing rods created to accompany each Pudgy Penguin NFT, will be able to equip them with custom fishing rod skins and use them to catch special fish.
“With this partnership we're pushing the envelope when it comes to interoperability,” said Steve Haßenpflug, vice president of games at ChromaWay and My Neighbor Alice in a statement, continuing:
“Now, Pudgy holders can see their own unique NFTs come to life in-game, interact with the world, enjoy exclusive gameplay and even create new experiences for others. That’s the power of connected ecosystems and a big step towards the open metaverse.”My Neighbor Alice is built on the Chromia blockchain, where players can own, trade and sell virtual asset NFTs. Pudgy Penguins NFT collections are based on Ethereum.
Penguins EverywhereThe Pudgy Penguin brand’s own Pudgy World metaverse, built on ZKSync, is currently in closed beta but promises to launch “soon.”
December’s launch of the project’s Solana-based PENGU token via airdrop was controversial, and characterized by high volatility for both the token and the NFT collection, with Pudgy Penguins’ floor price spiking as high as 25 ETH as the launch approached. It is currently 9.24 ETH, according to NFTPriceFloor.
Last month, Pudgy Penguins waddled over to the TON blockchain, allowing 1 billion-plus Telegram users to play Pengu Clash, a multiplayer skill game with mini-games like darts, football and bomber with token-based incentives, tournament rules, unlockable gear, accessories and team cosmetics, according to Pudgy Penguins. It is “pay-to-win” free, the company said in a release.
Also in May, Pudgy Penguins revealed that it was expanding its off-chain activities beyond physical plushies to publishing a children’s book with Random House titled “The Worst Birthday Present Ever.”
NFT prices have dropped dramatically since the airdrop high, which lasted through January, but could be going up if the Securities and Exchange Commission green-lights Canary Capital’s proposed Pudgy Penguin ETF, which will hold PENGU tokens as well as up to 15% of its assets in Pudgy Penguin NFTs.
PENGU is up about 2% on the day and 16% on the week, according to The Defiant’s price data.
Elliptic uvedl, že Lazarus Group po hacku Bybit vyprala přes eXch ukradené prostředky za více než 75 milionů USD. eXch přesto odmítla transakce blokovat.
The Lazarus Group has laundered stolen crypto from last week’s record-shattering Bybit hack through the exchange eXch, according to the blockchain research firm Elliptic.
Hackers looted nearly $1.5 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) from Bybit on Friday.
[adinserter block="1"]
The attack represented the largest crypto hack ever and possibly the biggest heist in world history.
Elliptic, pseudonymous on-chain investigator ZachXBT and other researchers have pinned the exploit on the Lazarus Group, a prolific North Korean cybercriminal outfit known for numerous high-profile hacks on major crypto platforms.
In a new analysis, Elliptic notes that Lazarus’ money-laundering process typically follows the same steps. First, the group exchanges any stolen tokens for a native blockchain asset like Ethereum, because ETH can’t be frozen by a central authority.
Source: Elliptic Subsequently, the cybercriminal outfit “layers” the stolen funds through multiple wallets, exchanges, cross-chain bridges and crypto mixers to obfuscate the transaction trail.
Elliptic says that Lazarus is currently in the middle of the second step.
“Within two hours of the theft, the stolen funds were sent to 50 different wallets, each holding approximately 10,000 ETH. These are now being systematically emptied – as of 1pm UTC on February 24, 14.5% of the stolen assets (now worth $195 million) have been moved from these wallets.
Once moved out of these wallets, the funds are being laundered through various services, including DEXs (decentralized exchanges), cross-chain bridges and centralized exchanges.
However, one service has emerged as a major and willing facilitator of this laundering. eXch is a cryptocurrency exchange, notable for allowing its users to swap cryptoassets anonymously. This has led them to being used to exchange hundreds of millions of dollars in crypto assets derived from criminal activity, including multiple thefts perpetrated by North Korea. Despite attempting to conceal this activity, our analysis shows that since the hack, crypto assets stolen from Bybit worth over $75 million have been exchanged using eXch. Despite direct requests from Bybit, eXch has refused to block this activity.”
Over the weekend, eXch took to the BitcoinTalk forum to deny claims it was laundering crypto for Lazarus, though it did cop to processing an “insignificant” portion of the stolen Bybit funds.
“1. eXch is NOT laundering money for Lazarus/DPRK (North Korea).
2. The insignificant portion of funds from the ByBit hack eventually entered our address 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 which was an isolated case and the only part processed by our exchange, fees from which we will be donated for the public good.
3. Any claims by ZachXBT and others on Twitter regarding transactions not related to 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 that are falsely attributed to eXch are a targeted FUD attack on our exchange.”
Bybit CEO Ben Zhou says the firm has restored a 1:1 backing on all client assets after the record-setting hack, and the Dubai-based exchange announced a full restoration of services on Saturday.
In a positive development for the crypto community, the individual responsible for the GMX exploit accepted the platform’s bounty and returned over $40 million worth of assets stolen from the project.
Crypto Hacker Takes $42 Million From GMX On Friday, the recent GMX V1 exploit ended on a happy note after the individual responsible for the incident turned into a white-hat hacker. Perpetual and spot crypto exchange GMX lost over $40 million on Wednesday when an attacker exploited a vulnerability in the protocol’s first version on Arbitrum.
According to online reports, GMX V1’s vault contract had a vulnerability that allowed the attacker to manipulate the GLP token price through the system’s calculations.
Blockchain security firm SlowMist explained that “The root cause of this attack stems from GMX v1’s design flaw, where short position operations immediately update the global short average prices (globalShortAveragePrices), which directly impacts the calculation of Assets Under Management (AUM), thereby allowing manipulation of GLP token pricing.”
Through a reentrancy attack, they successfully established massive short positions to manipulate the global average prices, artificially inflating GLP prices within a single transaction and profiting through redemption operations.
As a result, approximately $42 million worth of assets, including Legacy Frax Dollar (FRAX), wrapped bitcoin (WBTC), wrapped ETH (WETH), and other tokens, were transferred from the GLP pool to an unknown wallet.
The perpetual crypto exchange halted GMX V1’s trading and GLP’s minting and redeeming on both Arbitrum and Avalanche to prevent another attack and protect users’ funds. However, they clarified that the exploit was limited to GMX’s V1 and its GLP pool. GMX V2, its markets, or liquidity pools, and the GMX token were not affected and remained safe.
White-Hat Claims $5 Million Bounty Following the incident, GMX sent a message on-chain and on X offering a $5 million white-hat bounty to the attacker, claiming that their abilities were “evident to anyone looking into the exploit transactions.”
GMX’s team noted that returning the funds within the next 48 hours and accepting the bounty would allow the hacker to “spend the funds freely,” instead of taking additional risks to access them. They also vowed not to pursue any legal action and to assist the exploiter in providing proof of source for the funds if it is ever required.
Today, the exploiter responded in an on-chain message, accepting the bounty and starting the return process. As Lookonchain reported, they initially returned $10.49 million worth of FRAX on Friday morning.
GMX exploiter accepts white-hat bounty. Source: Lookonchain on X Meanwhile, another $32 million worth of assets had been swapped into 11,700 ETH, which are now valued at $35 million after the King of Altcoins’ price jumped to the $2,990 mark.
In the following hours, the hacker returned 10,000 ETH, worth $30 million, keeping only 1,700 ETH, valued at $5.2 million, as the bounty.
GMX later confirmed that the funds have now been safely returned and thanked the white-hat hacker for their actions, ultimately giving a positive turn to the incident.
Lastly, they informed users that “contributors are working on a proposed distribution plan for presentation to the GMX DAO and will share more information shortly.”
GMX token trades at $13.24 in the one-week chart. Source: GMXUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
Zakladatel Mochi Finance Azeem Ahmed prodal 550 285 CVX za zhruba 946 000 USD, což poslalo CVX dolů o více než 10 %. On-chain vyšetřování zároveň tvrdí, že v DeFi bylo odkloněno přes 8 milionů USD a celkové ztráty přesahují 54 milionů USD.
Mochi founder Azeem Ahmed sold 550K CVX from a Curve-linked stash as on-chain probes allege over $8M in diverted rewards and $54M in DeFi losses.
Summary
Mochi Finance founder Azeem Ahmed sold about 550,285 CVX for roughly $946,000, pushing the token down more than 10%. The CVX stack traces back to a 2021 Curve pool drain that left liquidity providers with an estimated $54 million in losses. Ahmed now faces years of on-chain fraud allegations spanning at least four DeFi projects, with diverted rewards and liquidity drains topping $8 million. Azeem Ahmed, founder of Mochi Finance and GaiaDAO, has sold approximately 550,285 Convex Finance (CVX) tokens from wallets linked to a 2021 Curve Finance drain, netting around $946,000 and triggering a double‑digit intraday slide in CVX’s price. On March 19, the tokens were liquidated at an average price of about $1.72, sending CVX from roughly $1.88 to $1.68, a drop of more than 10% according to on-chain data reviewed by Crypto Daily. The proceeds were routed to a multisig associated with the Mochi protocol, which held about $864,858 in assets after the sale, while another 500,000 CVX remain locked on Convex Finance.
The CVX position itself originates from Mochi’s controversial November 2021 move to mint its USDM stablecoin against MOCHI and drain roughly $46 million in DAI-equivalent liquidity from the USDM/3CRV pool on Curve. At the time, Mochi used 10 billion MOCHI tokens—assigned a hard‑coded oracle price despite near‑zero market value—to mint 46 million USDM, convert the proceeds into 9,876 ETH, and purchase about 1,050,285 CVX, which were then locked on Convex Finance, according to certified crypto‑trace reports by forensics firm IFW Global. Curve’s Emergency DAO responded by killing Mochi’s gauge and blocking further emissions after characterizing the maneuver as a “clear governance attack,” a clash that became part of the broader “Curve Wars” over CVX and CRV voting power and emissions.
From “peg rebalancing” to diverted rewards In the aftermath, Ahmed re-emerged through GaiaDAO with a Peg Rebalancing Module (PBM) pitched as a mechanism to distribute CVX staking rewards from the locked position to USDM holders and gradually restore the stablecoin’s peg. The PBM charged a 2% management fee and 20% performance fee payable to Ahmed, but according to Curve governance forum records, he unilaterally hiked the performance fee to 50% before community backlash forced him to reverse the change. By November 2025, reward distributions from the 1,050,285 vlCVX position had stopped entirely, and on-chain data indicates those rewards were rerouted to a wallet that also acts as a signer on the CVX multisig, with the value of diverted staking rewards alone estimated at more than $1.6 million.
Beyond staking flows, investigators allege that about 2,198 ETH—worth roughly $6.67 million at the time—and $471,429 in USDC were drained from Mochi/ETH liquidity pools and never returned to depositors, while airdrops from protocols including Prisma, CNC, VELO, LFT, and YB reportedly remained unclaimed or undistributed. Aggregate investor losses tied to the Mochi ecosystem and its associated pools are now estimated at over $54 million, according to IFW Global’s certified reports.
A pattern of disputes and legal risk Ahmed’s track record stretches back to at least 2020 and spans Yieldfarming.insure (SAFE), Armor.fi, Mochi Finance, and GaiaDAO, with repeated accusations of misappropriating community funds. During the original Mochi‑Curve confrontation, Curve alleged that Mochi’s strategy amounted to a governance attack, while Ahmed insisted in an interview with Crypto Briefing that the team had simply taken a “bold approach to gaining voting power in the DAO” and argued that the “DeFi Cartel … feels threatened that a small player on the outskirts” could challenge incumbents. Robert Forster, Ahmed’s former co‑founder at Armor.fi, later accused him publicly of stealing “millions in LP tokens,” a charge Ahmed denied by claiming the funds were “returned in full” and counter‑alleging that Forster had taken money for personal use.
Legal pressure has also followed the on‑chain drama into courts. A prior lawsuit by an Armor.fi user in San Francisco Superior Court (Chen v. Ahmed, Case No. CGC‑21‑589609) ended in an out‑of‑court settlement after a temporary restraining order application, according to filings referenced in IFW Global’s reports. Attorneys now point to potential U.S. claims spanning securities fraud under Section 10(b), racketeering (RICO), common‑law fraud, conversion, and unjust enrichment, and affected investors have been directed to file complaints with the Securities and Exchange Commission, Commodity Futures Trading Commission, and the FBI’s IC3 portal.
What Ahmed’s latest sale means for CVX and DeFi Ahmed’s March 19 liquidation is the most aggressive on-chain move from Mochi‑linked wallets since the 2021 Curve incident and is being read by many affected investors as confirmation that the locked CVX will be used for exit liquidity rather than restitution. With roughly 500,000 CVX still locked on Convex Finance and controlled via the same governance structure, any further sales could become major liquidity events for CVX and reignite questions over how DeFi protocols respond when governance power is acquired through exploits rather than open‑market buying. Ahmed, described in IFW documentation as a UK citizen, has not publicly responded to the latest allegations, and his social media profiles have been inactive for months.
Dlouholetý vývojář Bitcoinu Paul Sztorc navrhuje hard fork eCash na výšce bloku 964 000 v srpnu 2026, který by držitelům BTC přidělil ekvivalentní tokeny. Plán ale vyvolal odpor kvůli přesunu mincí spojených se Satoshi Nakamotem.
Long-time Bitcoin developer proposes a Bitcoin hard fork. (geraldfriedrich2/Pixabay)Summary
Paul Sztorc proposes a 2026 hard fork of Bitcoin called eCash, giving BTC holders equivalent tokens and adding Drivechains. A hard fork splits a blockchain into a new network with shared history but different rules, like Bitcoin Cash in 2017. The plan is controversial for reallocating coins tied to Satoshi Nakamoto, which critics call unethical and risky.Long-time Bitcoin developer Paul Sztorc has been trying to overhaul Bitcoin's architecture since 2015, but the broader community hasn’t budged.
So now he has proposed a dramatic step, called eCash hardfork, that involves copying Bitcoin's code to launch a separate version in August, while giving existing bitcoin holders equivalent tokens in the new network for free.
The community, however, is criticizing the funding part, which involves reassigning coins linked to Bitcoin’s missing founder, Satoshi Nakamoto.
Think of a hard fork like a railway line splitting into two. Trains start from the same station, but at some point the line splits, helping trains reach completely different destinations.
When a group of developers cannot reach consensus on a proposed change to Bitcoin’s code, they copy the existing blockchain and launch it as a separate chain, which shares Bitcoin’s entire history up to the point of the split, but diverges after the split, moving forward with its own rules, features, token and direction.
That's precisely what happened in 2017 when the debate over Bitcoin's block size reached a tipping point, culminating in a chain split and the creation of the Bitcoin Cash blockchain with its native token, BCH.
The technical dispute centered on Bitcoin's 1MB block size limit, which caps the number of transactions that can be processed every 10 minutes when new blocks are added to the blockchain. Hence, some favoured increasing the block size, but the community remained divided, eventually leading to a chain split.
Sztorc's eCash hard forkThe proposed hard fork will create a new chain called eCash with native eCash tokens. “Hold 4.19 BTC at the time of the fork, get 4.19 eCash. You can sell it, keep it, or ignore it entirely,” he said on X.
The fork is scheduled for Bitcoin block height 964,000 in August 2026. A coin-splitter tool will be released to help holders cleanly separate their BTC from their new eCash.
The new chain will be a near-copy of Bitcoin's existing blockchain, with one critical addition called Drivechains, a scaling architecture Sztorc first proposed in 2015 and formally submitted to Bitcoin developers as BIP300 and BIP301 in 2017 and 2019, respectively.
Drivechains are sidechains tethered to the Bitcoin blockchain, allowing seamless movement of BTC between the main chain and sidechains without changing Bitcoin's base layer. Each sidechain can operate under its own rules and features, essentially allowing developers to build new capabilities on top of Bitcoin without requiring the entire network to adopt those changes.
Think of Drivechains as service roads attached to the main highway. When the highway is congested, drivers can exit the highway and travel on the service road at different speed limits, then re-enter the highway when it's clear. This way, the highway never changes, yet more traffic is handled more efficiently, and the journey becomes more flexible for everyone.
Seven Drivechains are already in development, Sztorc said on X, including a privacy chain modelled on Zcash, a prediction market called Truthcoin, a decentralised exchange called CoinShift, and a quantum-resistant chain called Photon.
The controversial part linked to Satoshi coinsSztorc wants to use coins that would have gone to Satoshi Nakamoto's equivalent addresses on the new eCash chain to bring investors on board before the fork goes live, a decision he calls necessary but which has riled the community, with some calling it outright theft.
A potential hard fork would bring Bitcoin’s entire transaction history to the new chain. So every bitcoin balance, including Satoshi’s 1.1 million bitcoin, sitting untouched in wallets that have noved moved these coins, would show up as an equivalent eCash balance on the new chain.
As per the plan, fewer than half of the Satoshi-equivalent eCash coins will be assigned to investors today. The precise mechanism of how it's being done remains unclear. But since eCash doesn't yet exist, the pre-hard fork assign seems to be a promised credit following a successful hard fork.
The plan, he argues, will ensure collaborators have a tangible incentive to get involved early, building momentum and completing work ahead of launch. Without this mechanism, the project can turn into a "zombie project" that ships unfinished. Worse, it could become a centralized project, where a small group of developers gains outsized control over the chain's direction.
The industry response, however, has been negative.
“Taking Satoshi coins is theft and disrespectful, and eCash is already used for Lightning payments with Cashu and Fedi. Those are poor choices,” Bitcoin advocate Peter McCormack said.
Josh Ellithorpe, chief technology officer at Pixelated Ink, expressed concerns about the precedent it sets and how it could eventually be a risk to everyone’s BTC holdings.
“eCash, setting the precedent that they can and will steal coins. Now it's Satoshi, but it could be anyone later. Also misrepresenting the BCH fork, stealing another project's name, and not having replay protection,” Ellithorpe said.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.
THIS IS AN ANNOUNCEMENT FALLING UNDER RULE 2.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS (THE "CODE") AND DOES NOT CONSTITUTE A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CODE. THERE CAN BE NO CERTAINTY THAT ANY FIRM OFFER WILL BE MADE.
, /PRNewswire/ -- Prologis, Inc. ("Prologis") announces that on 16 June 2026 it sent a letter to the Board of SEGRO plc ("SEGRO") setting out the terms of an indicative all-share proposal, pursuant to which Prologis would acquire the entire issued and to be issued share capital of SEGRO (the "Combination").
On 23 June 2026, the Board of SEGRO unequivocally rejected the Combination proposal.
Under the terms of the Combination, SEGRO shareholders would receive for each SEGRO share:
0.084 new Prologis shares (the "Exchange Ratio")
Based on the Prologis share price of $145.3 and a GBP:USD exchange rate of 1.32 in each case at market close on 23 June 2026, being the last trading day prior to this announcement, the Combination implies a value of 925 pence for each SEGRO share and values SEGRO's entire issued and to be issued ordinary share capital at approximately £12.6 billion, representing:
a premium of 24.6 per cent to SEGRO's share price of 742 pence on 23 June 2026 (being the last trading day prior to this announcement); a premium of 26.7 per cent to the 1-month volume weighted average SEGRO share price of 730 pence as of 23 June 2026 (being the last trading day prior to this announcement); a premium of 31.4 per cent to the 3-month volume weighted average SEGRO share price of 704 pence as of 23 June 2026 (being the last trading day prior to this announcement); and a price equal to SEGRO's last reported EPRA NTA* per share of 925 pence as of 31 December 2025 Following completion of the Combination, SEGRO shareholders would hold approximately 10.5 per cent of Prologis' issued share capital.
Prologis believes that the Combination is a highly compelling opportunity for SEGRO shareholders. SEGRO shareholders would receive shares in the world's largest logistics REIT with a $140.9 billion market capitalisation, unlocking, on closing, significant upside to the current share price.
Furthermore, the Combination provides SEGRO shareholders with participation in a global platform with a track record of outperformance across key metrics and the successful integration of major corporate transactions with the delivery of synergies. Prologis believes these factors will provide SEGRO shareholders with accelerated growth compared to the growth available to them in a standalone SEGRO.
Prologis believes that its global platform, balance sheet strength and diversified capital base can unlock the significant embedded value of SEGRO's development and data center pipeline.
Prologis also believes the Combination would deliver significant benefits to its customers, employees and Prologis shareholders.
Clear Strategic Rationale and Value Creation
Prologis believes that the Combination has clear strategic rationale and provides SEGRO shareholders with a compelling value proposition:
Opportunity to Join Forces with the Global Leader in Logistics Real Estate Combination with Prologis will provide SEGRO shareholders with diversification into global growth markets SEGRO and Prologis' European portfolios are highly complementary with an expected clear line of sight to scale benefits Resolves Structural Constraints Limiting SEGRO's Growth Potential SEGRO has traded at a persistent discount to its EPRA NTA per share with an average discount to EPRA NTA* of 19 per cent and 17 per cent over the last two years and three years, respectively Prologis has superior balance sheet strength with Net Debt / Enterprise Value of 22 per cent versus 37 per cent for SEGRO and Net Debt / Adjusted EBITDA of 4.8x versus 8.4x for SEGRO Prologis' access to public equity, debt and private capital will enable Prologis to unlock embedded opportunities for investment for which Prologis believes SEGRO is unable to unlock standalone due to structural constraints, including its balance sheet capacity and trading discount Accelerates Monetisation of SEGRO's Development, Power and Data Center Opportunities Prologis anticipates that its platform, balance sheet strength and significant access to capital can unlock the significant embedded value of SEGRO's development and data center pipeline in a way that SEGRO will not be able to do on a standalone basis Prologis has the scale, capital, and execution capabilities to fund and deliver SEGRO's pipeline Value Realisation at a Premium and Enhanced Growth for SEGRO Shareholders Significant share price premium while retaining an interest in a stronger combined entity Prologis has outperformed SEGRO on total shareholder return over both 3 and 5 years (37 per cent and 39 per cent, respectively) leading its peer group average and significantly exceeding SEGRO's total shareholder return (3 year: 19 per cent; 5 years: negative 20 per cent.) Prologis' Proven Stewardship of Shareholder Capital and Strong M&A Integration Track Record Prologis' history of achieving cost and revenue synergies underscores the strength of the platform and successful integration Consistent with this track record, shareholders of the enlarged group can anticipate significant synergies from the Combination Prologis urges SEGRO shareholders to encourage the SEGRO Board to engage with Prologis to allow a binding offer to be put to SEGRO shareholders for their consideration.
There can be no certainty that an offer for SEGRO will be made. A further announcement will be made as appropriate.
Important Code Notes
In accordance with Rule 2.6(a) of the Code, Prologis is required, by not later than 5:00 pm (London time) on 22 July 2026, to either announce a firm intention to make an offer for SEGRO in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for SEGRO, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline may only be extended with the consent of the Takeover Panel in accordance with Rule 2.6(c) of the Code.
In accordance with Rule 2.5(a) of the Code, Prologis reserves the right to vary the form and/or mix of consideration as set out in this announcement and/or introduce other forms of consideration. Prologis reserves the right to make an offer for SEGRO at a lower value and/or on less favourable terms than those described in this announcement: (a) with the agreement or recommendation of the Board of SEGRO; (b) if a third party announces a possible or a firm intention to make an offer for SEGRO which, at that date, is of a value less than the value implied by the Combination; or (c) following the announcement by SEGRO of a Rule 9 waiver transaction pursuant to Appendix 1 of the Code or a reverse takeover (as defined in the Code). If after the date of this announcement SEGRO declares, makes or pays any dividend or distribution or other return of capital to its shareholders, Prologis reserves the right to make an equivalent reduction to terms of the Combination or an equalisation dividend to a common date.
*EPRA NTA is not calculated from a valuation of SEGRO's assets under Rule 29 of the Takeover Code. It is sourced from SEGRO's 31 December 2025 audited financial statements. At the relevant point, a valuation of SEGRO's assets will be published by SEGRO in accordance with Rule 29 of the Takeover Code.
Linklaters LLP is retained as legal adviser to Prologis.
Further information
N.M. Rothschild & Sons Limited ("Rothschild & Co"), which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom and J.P. Morgan Securities LLC, together with its affiliate J.P. Morgan Securities plc (which conducts its UK investment banking business as J.P. Morgan Cazenove and which is authorised in the United Kingdom by the Prudential Regulation Authority ("PRA") and regulated in the United Kingdom by the PRA and the FCA) (together "J.P. Morgan"), and Eastdil Secured International Limited ("Eastdil Secured" or "ESI") which is authorised and regulated by the Financial Conduct Authority (the "FCA") in the United Kingdom are acting exclusively for Prologis and for no one else in connection with the subject matter of this announcement and will not be responsible to anyone other than Prologis for providing the protections afforded to their clients or for providing advice in connection with the subject matter of this announcement. This announcement is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction.
The release, publication or distribution of this announcement in jurisdictions outside the United Kingdom may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe such restrictions. Any failure to comply with such restrictions may constitute a violation of the securities law of any such jurisdiction.
Disclosure requirements of the Code
Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any securities exchange offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any securities exchange offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any securities exchange offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a securities exchange offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any securities exchange offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any securities exchange offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any securities exchange offeror(s), save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).
Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.
Rule 2.4 information
In accordance with Rule 2.4(c)(iii) of the Code, Prologis confirms that it is not aware of any dealings in SEGRO shares that would require it to offer a minimum level, or a particular form, of consideration under Rule 6 or Rule 11 of the Code. However, it has not been practicable for Prologis to make enquiries of all persons acting in concert with it prior to the date of this announcement in order to confirm whether any details are required to be disclosed under Rule 2.4(c)(iii) of the Code. To the extent that any such details are identified following such enquiries, Prologis will make an announcement disclosing such details as soon as practicable, and in any event by no later than the time it is required to make its Opening Position Disclosure under Rule 8.1 of the Code.
Rule 2.9 information
In accordance with Rule 2.9 of the Code, Prologis confirms that, as of the date of this announcement, it has issued and outstanding 932,983,938 shares of common stock at par value of $0.01 per share. Prologis does not hold any of its common stock in treasury. The International Securities Identification Number (ISIN) of the shares of common stock is US74340W1036. The Legal Entity Identifier (LEI) for Prologis is 529900DFH19P073LZ636.
Publication on Website
In accordance with Rule 26.1 of the Code, a copy of this announcement will be available subject to certain restrictions relating to persons resident in restricted jurisdictions on Prologis' website at https://ir.prologis.com/ promptly and in any event by no later than 12 noon (London time) on 25 June 2026. The content of this website is not incorporated into and does not form part of this announcement.
Forward-Looking Statements
The statements in this announcement that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are based on current expectations, estimates and projections about the industry and markets in which Prologis and SEGRO operate as well as management's beliefs and assumptions. Such statements involve uncertainties that could significantly impact Prologis' or SEGRO's financial results. Words such as "expects," "anticipates," "intends," "believes," "would", "could", "should" and "estimates," including variations of such words and similar expressions, are intended to identify such forward-looking statements, which generally are not historical in nature. All statements that address operating performance, events or developments that Prologis expects or anticipates will occur in the future – including statements relating to any possible transaction between Prologis and SEGRO , rent and occupancy growth, acquisition and development activity, including data center developments and power procurement related thereto, contribution and disposition activity, general conditions in the geographic areas where Prologis and SEGRO operate, expectations regarding new lines of business, Prologis' and SEGRO's debt, capital structure and financial position, Prologis' ability to earn revenues from co-investment ventures or form new co-investment ventures and the availability of capital in existing or new co-investment ventures – are forward-looking statements. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions that are difficult to predict. Although Prologis believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, Prologis can give no assurance that its expectations will be attained, and therefore actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Some of the factors that may affect outcomes and results include, but are not limited to: (i) the ultimate outcome of any possible transaction between Prologis and SEGRO, including the possibility that SEGRO will reject any proposed transaction with Prologis; (ii) uncertainties as to whether SEGRO will cooperate with Prologis regarding any proposed transaction; (iii) the effect of the announcement of any proposed transaction on the ability of Prologis and SEGRO to operate their respective businesses and retain and hire key personnel and to maintain favourable business relationships; (iv) the timing of any proposed transaction; (v) the ability to satisfy closing conditions to the completion of any proposed transaction (including shareholder approvals); (vi) other risks related to the completion of any proposed transaction and actions related thereto; (vii) international, national, regional and local economic and political climates and conditions; (viii) changes in global financial markets, interest rates and foreign currency exchange rates; (ix) increased or unanticipated competition for Prologis' or SEGRO's properties; (x) risks associated with acquisitions, dispositions and development of properties, including the integration of the operations of significant real estate portfolios; (xi) maintenance of Real Estate Investment Trust ("REIT") status, tax structuring and changes in income tax laws and rates; (xii) availability of financing and capital, the levels of debt that Prologis and SEGRO maintain and their credit ratings; (xiii) risks related to Prologis' investments in and management of its co-investment ventures, including ability to establish new co-investment ventures; (xiv) risks of doing business internationally, including currency risks; (xv) environmental uncertainties, including risks of natural disasters; (xvi) risks related to global pandemics; and (xvii) those additional factors discussed under Part I, Item 1A. Risk Factors in Prologis' Annual Report on Form 10-K for the year ended December 31, 2025. Prologis undertakes no duty to update any forward-looking statements appearing in this announcement except as may be required by law.
Non-GAAP Measures
This announcement includes certain terms and non-GAAP financial measures that are not specifically defined herein. These terms and financial measures for Prologis are defined and, in the case of the non-GAAP financial measures, reconciled to the most directly comparable GAAP measures, in Prologis' quarterly Earnings Release and Supplemental Information that is available on Prologis' investor relations website at www.ir.prologis.com and on the SEC's website at www.sec.gov.
Sources of information and bases of calculation
Share price and volume weighted average share price data is derived from FactSet GBP:USD exchange rate of 1.3196 is derived from Chatham Financial as of 23 June 2026 The value attributed to SEGRO's issued share capital (and therefore the value of the Combination) is based upon fully diluted share capital of 1,361,127,593 SEGRO ordinary shares of 10 pence each, comprising: 1,353,927,858 ordinary shares in issue as of 29 May 2026 as announced by SEGRO pursuant to the FCA's Disclosure Guidance and Transparency Rules (with no shares held in treasury); and 7,199,735 shares relating to SEGRO's share schemes, derived from SEGRO's public filings. This figure is net of shares held by the SEGRO Employee Benefit Trust Prologis' issued share capital is based upon fully diluted share capital of 970,140,938 shares at par value of $0.01 per share, comprising: 932,983,938 shares of common stock at par value of $0.01 per share; and 37,157,000 shares relating to Prologis' share schemes, derived from Prologis' public filings. Discount to EPRA NTA is calculated as the see-through value of the offer at the Exchange Ratio divided by the SEGRO last reported EPRA NTA at 31 December 2025 of 925 pence per share Prologis' market capitalisation is calculated based on the share price at market close on 23 June 2026 of $145.3 multiplied by Prologis' fully diluted share count of 970,140,938 shares SEGRO's shareholding in the enlarged group is calculated as (i) newly issued Prologis shares of 114,334,718 (calculated as 1,361,127,593 SEGRO shares multiplied by the Exchange Ratio); divided by (ii) the enlarged group issued share capital of 1,084,475,656 (equal to the existing Prologis fully diluted issued share capital of 970,140,938 plus the newly issued shares of 114,334,718) Enterprise value used for Net Debt / Enterprise Value sourced from FactSet at market close on 23 June 2026 Total shareholder return equals the change in share price plus dividends received over the relevant time period. This data is as of 23 June 2026. Information sourced from FactSet SEGRO EPRA NTA sourced from SEGRO's 2025 Annual Report and Accounts, with prior years' EPRA NTA sourced from its 2024 and 2023 Annual Report and Accounts and its 2024 and 2023 interim results SEGRO Net Debt and Net Debt / Adjusted EBITDA sourced from 2025 annual results announcement released on 20 February 2026 Prologis financial information extracted from Prologis' 2026 Q1 Earnings Release published on 16 April 2026 Prologis Net Debt and Net Debt / Adjusted EBITDA sourced from Prologis' 2026 Q1 Earnings Release published on 16 April 2026 SOURCE Prologis, Inc.
MegaETH spustil program zpětného odkupu MEGA financovaný čistě z čistého výnosu ze stablecoinu USDm nashromážděného do konce dubna. Další odkupy mají běžet automaticky podle změn nabídky USDm a výnosu rezervních aktiv.
MegaETH has activated a MEGA token buyback program funded entirely by net revenue from its USDm stablecoin, turning Treasury‑backed yield into a standing bid for its “real‑time Ethereum” L2 token after a sharp post‑launch selloff.
Summary
The MegaETH Foundation has kicked off a MEGA token buyback program, completing its first purchase using all net earnings generated by USDm through the end of April. USDm’s current supply is about $480 million, and future MEGA buybacks will run programmatically, with size determined by USDm supply and yield on its reserve assets. The foundation stresses that USDm is not issued or operated by MegaETH or MegaLabs, even as its revenue stream becomes a core economic engine for MEGA demand. The MegaETH Foundation says its MEGA token buyback plan is now live, with the first repurchase funded entirely by net earnings from USDm accumulated through the end of April. In an announcement on X, the foundation said it had “completed the first MEGA buyback using all net income generated by USDm’s issuer as of April 30,” framing the move as the start of an ongoing demand loop where the ecosystem’s stablecoin revenue is recycled into the native token.
MEGA buyback goes live, tied directly to USDm revenues Importantly, the foundation reiterated that “USDm is not issued or operated by the MegaETH Foundation or MegaLabs,” clarifying that the stablecoin’s issuer is a separate entity even though its economics are tightly coupled to MEGA. USDm is a yield-bearing stablecoin built on Ethena’s USDtb rails, with reserves primarily invested in BlackRock’s tokenized U.S. Treasury fund BUIDL via Securitize, alongside liquid stables for redemptions. Those reserves generate a predictable yield, which flows to the USDm issuer and, under the new scheme, is then used as the funding source for MEGA buybacks.
CoinMarketCap’s overview of MegaETH notes that the MEGA token has a fixed supply of 10 billion and is used for gas, staking and governance within the “real-time Ethereum” L2, which targets sub-millisecond latency and over 100,000 transactions per second. By tying MEGA buybacks to USDm’s revenues, the foundation is effectively turning stablecoin growth and on-chain economic activity into a direct support mechanism for MEGA’s price and scarcity.
Programmatic buybacks, variable size, and market impact According to the foundation, future MEGA buybacks will be executed “as programmatically as possible,” running automatically according to preset rules instead of being manually timed by the team. The size of each operation “will not be fixed,” it said, but will depend on “changes in USDm supply and the yield of the underlying reserve assets,” meaning that as USDm circulates more widely and its Treasury-backed yield rises or falls, the buyback firepower will adjust in tandem.
Earlier this year, the MegaETH Foundation outlined a broader economic model in which USDm functions as an “economic engine” for the L2: yield from its reserves is used to subsidize sequencer costs and network fees and, now, to fund ongoing MEGA purchases from the market. MEXC’s summary of the plan notes that USDM (often stylized as USDm) “is backed by Ethena and BlackRock’s BUIDL fund,” and that the project will “trigger MEGA token generation based on KPIs” such as reaching $500 million in USDm circulation, launching 10 apps on MegaETH, or having at least three apps generate $50,000 in fees for 30 consecutive days. DefiLlama data show USDm’s broader MegaETH stablecoin stack now has a market cap of about $810.6 million, with USDm itself accounting for roughly 58% dominance, implying a USDm supply in the neighborhood of $470–$480 million.
The timing of the first buyback is notable. AInvest reported that MEGA fell about 38% from its April 30 launch price to $0.138 amid heavy post‑TGE selling pressure from early participants. CoinMarketCap’s explainer on MegaETH says the ecosystem was designed from the outset to “use its native stablecoin’s reserve yield to fund MEGA buybacks,” positioning this week’s announcement as the moment when that theoretical flywheel actually starts to spin. If USDm continues to grow and on-chain yields remain robust, the programmatic buyback mechanism could become a persistent marginal buyer of MEGA in secondary markets, linking the token’s long-term value more tightly to real usage and stablecoin demand rather than one-off hype cycles.
MiniPay spouští digitální debetní kartu Visa poháněnou Gnosis Pay. Uživatelé mohou utrácet stablecoiny u více než 175 milionů obchodníků, kteří přijímají Visa.
MiniPay, Opera's self-custodial stablecoin wallet, has launched the MiniPay Card: a digital Visa debit card powered by Gnosis Pay. Eligible users can now spend their stablecoin balances across Europe (EEA), Africa, Latin America and Southeast Asia at more than 175 million Visa merchant locations worldwide. Gnosis Pay manages the card program behind it.
MiniPay already had the wallet, the users, and the balances. What its users did not have was a way to spend those balances at a normal checkout. Gnosis Pay closes that gap. We built the card program so a wallet can connect its stablecoin balances to Visa without becoming a card issuer, a bank, or a payments company itself.
The last meter problemIn a lot of markets, people already save and get paid in digital dollars. Holding stablecoins is solved. Spending them is the hard part.
A balance sitting in a wallet does not pay for groceries, a bus fare, or a subscription. To do that, the money has to reach a merchant through rails the merchant already accepts. For most of the world, that means Visa. Friederike Ernst, co-founder of Gnosis, puts it this way:
"For someone in Lagos or Nairobi who already holds savings in digital dollars, the missing piece isn't the wallet. It's the last meter. The ability to spend those balances at a checkout in another country without the merchant needing to know or care about crypto."
The last meter is the distance between a stablecoin balance and a card terminal. It is short, and it is where most stablecoin products stop. The MiniPay Card covers it.
What the MiniPay Card isThe MiniPay Card is a digital Visa debit card that lives inside the MiniPay wallet. Users add it to Apple Pay or Google Pay and spend with a tap, online or in person, anywhere Visa is accepted. The balance in the wallet is the balance on the card.
Behind the familiar card experience sits a stablecoin card program. When a user taps, their stablecoin balance is settled to Visa in real time, and the merchant is paid in their local currency. The merchant sees a normal Visa payment.
How Gnosis Pay powers itGnosis Pay is the card program manager for the MiniPay Card. That means we handle the technical layer that turns a wallet balance into a working card, and we coordinate the regulated parts of the stack rather than performing them ourselves.
Here is how the pieces fit:Issuing. The card is issued through Monavate's regulated card issuing, on Visa's global network. Gnosis Pay is the program manager around that.
Settlement. When the card is used, the stablecoin balance is bridged to Visa in real time. The merchant receives local currency with no crypto-specific setup.
Self-Custody. Funds stay in the user's self-custodial wallet until the moment of spending. MiniPay users keep control of their balances.
Onboarding. A wallet that already has users can pass its existing user base and verification into the program, rather than starting from zero.
This is the work that usually takes a wallet many months to assemble piece by piece: an issuer relationship, a Visa program, settlement, and the compliance coordination to run it across markets. Gnosis Pay packages it so a fintech, neobank or wallet can ship the card instead of building a card company.
Key takeaway: As the card program manager, Gnosis Pay connects a wallet's stablecoin balances to Visa in real time, so the merchant gets paid in local currency and never has to know crypto was involved.
Who it is forThe MiniPay Card launches into an existing base. Since 2023, MiniPay has grown to more than 16 million activated wallets, with strong adoption across Africa and other high-growth regions. The card is available to eligible users in selected markets across Europe (EEA), Africa, Latin America and Southeast Asia, anywhere Visa is accepted.
It also builds on what MiniPay already shipped. After introducing Virtual Bank Accounts, which let users receive money straight into their wallets as stablecoins, the card adds the other half: a way to spend those balances online and in person. Money in, money out, in one wallet.
Why this matters beyond MiniPayMiniPay is one wallet. The pattern is the point. Any wallet or fintech with users and stablecoin balances faces the same last meter, and the same choice: build a card company, or plug into a card program that already runs. Gnosis Pay is built for the second path. We did the same integration work for MiniPay that any partner would do, making this launch a template for future wallet integrations.
It also fits how Gnosis thinks about money. Stablecoins should work like money, which means they have to be spendable. A balance you can hold but not spend is a savings account with extra steps. A balance you can tap at any Visa terminal is closer to the thing money is supposed to be.
Tip: If you run a wallet or a fintech, the rails behind the MiniPay Card are the same ones you integrate with Gnosis Pay. The build starts in the docs.
Availability, fees, and rewardsThe MiniPay Card is launching to eligible users in selected markets. Find details on availability and product features at minipay.to/virtual-card.
Fees. No monthly or annual fee. Transactions carry a low nominal FX fee and ATM withdrawal fee.
Wallet integration. The card works with Apple Pay and Google Pay for contactless payments.
Rewards. In selected markets, the card offers cashback in digital assets, including Tether Gold (XAUt0), USDT and USDC.
This launch continues the path Gnosis Pay has been on, from remittances to retail: making stablecoin balances usable in the places people spend. It is also a working example of the ownership-first model we have been building toward, where users keep custody and still get the convenience of a card.
FAQWhat is the MiniPay Card?
The MiniPay Card is a digital Visa debit card inside Opera's MiniPay wallet. It lets eligible users spend their stablecoin balances at over 175 million Visa merchants, online or in person.
Where can you use the MiniPay Card?
It is available to eligible users in selected markets across Europe (EEA), Africa, Latin America and Southeast Asia, and it spends anywhere Visa is accepted.
Do you need crypto knowledge to use the MiniPay Card?
No. Users add the card to Apple Pay or Google Pay and tap to pay. It spends like any other contactless Visa card.
How is the MiniPay Card different from a regular debit card?
It spends from your own self-custodial stablecoin balance instead of a bank account. You keep custody of your funds until the moment you tap.
Do merchants need to accept crypto?
No. Merchants are paid in their local currency and see a normal Visa payment. They do not need to accept crypto or set anything up.
Build your card programThe last meter is closed for 16 million wallets. The next ones are the wallets and fintechs that have not shipped a card yet, and the rails are ready for them.
If you are building one, book a demo or learn more on gnosispay.com.
WOO X přišel o zhruba 14 milionů USD při útoku připisovaném aktérovi napojenému na KLDR. Hacken uvádí, že většina prostředků už byla převedena do Bitcoinu.
On July 24, 2025, Taiwan-based trading platform WOO X became the latest victim in a bruising summer of crypto breaches when attackers made off with roughly $14 million in unauthorized withdrawals from nine user accounts, forcing the exchange to pause withdrawals while it investigated and promised to reimburse affected users.
New chain-analysis shared by Yehor Rudytsia, Head of Forensics and Incident Response at Hacken, paints the post-heist picture as far more organized than a one-off theft. According to Rudytsia, the exploit, which Hacken dates to July, resulted in total losses of about $14 million and was carried out by a DPRK-linked actor tracked in law-enforcement circles as “TraderTraitor.”
Hacken says it is actively monitoring the on-chain movements and is supporting recovery efforts by flagging malicious addresses to the wider security community. The laundering choreography, as mapped by Hacken, left half the stolen funds on EVM networks and the rest on Tron and Bitcoin.
In the last 24 hours, on-chain traces show that the bulk of the EVM-side proceeds, more than $7 million, were routed through THORChain and swapped into Bitcoin, a technique observers have increasingly flagged as a common laundering path after major exchange thefts earlier this year. Rudytsia noted that THORChain’s native cross-chain swap functionality has repeatedly been used to convert large sums of ETH and ERC-20 tokens into BTC, making it attractive to sophisticated operators moving stolen assets across ecosystems.
On-chain Evidence Hacken’s report also documents the handling of the Tron-denominated portion (about $2.5 million in TRX). Those funds, the team found, were converted into USDT, bridged to Ethereum via LayerZero infrastructure, and from there, some of the bridged USDT was again pushed to Bitcoin through THORChain.
On-chain evidence of a nine-figure USDT transfer arriving on Ethereum from a LayerZero executor appears in public transaction records from October 1, 2025, which match the pattern Hacken described.
Complicating the trail, part of the funds that surfaced on Ethereum were sent to a wallet previously tied to the BingX hot-wallet exploit in 2024, itself attributed by investigators to North Korean-linked groups, suggesting either reuse of laundering infrastructure or coordination across multiple thefts.
The address that received those transfers is publicly visible on Ethereum explorer records, and investigators say the link deepens the picture of an organized laundering chain connecting multiple high-profile incidents.
Taken together, the movements indicate that roughly $8–9 million from the WOO X breach was bridged on the same day from Ethereum to Bitcoin, almost entirely via THORChain, leaving an estimated 90% of the stolen value now sitting on Bitcoin addresses as perpetrators accelerate conversion into the oldest and most liquid on-chain asset.
Security teams monitoring the flows warn that once funds consolidate on Bitcoin, conventional tracing and intervention become harder and the risk of eventual cash-out increases. Rudytsia told Blockchain Reporter that Hacken is continuing to monitor the accounts and will push flagged addresses to exchanges and compliance partners in the hope of freezing or otherwise freezing flow paths where possible.
For now, the case is a fresh reminder that as cross-chain tooling gets more powerful, it also gives sophisticated attackers faster, lower-friction routes to turn stolen tokens into harder-to-trace assets, and that forensic work on multiple chains, together with cooperation from on- and off-ramp services, remains the only immediate line of defence in today’s time.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
METABORA GAMES spustila Puzzle & Guardians jako MINI App v aplikaci LINE Messenger v Japonsku. Hra je dostupná více než 100 milionům uživatelů LINE bez nutnosti další instalace a nabízí odměny v tokenech BORA.
– Maximizes user accessibility through direct onboarding within LINE Messenger’s MINI App Tab
– Integrates BORA DEEPS to deliver a differentiated gameplay experience for Japanese users
– Strengthens on-chain rewards and BORA token utility, establishing a virtuous ecosystem cycle
METABORA GAMES (CEO Choi Se-hoon), a leading blockchain game developer, announced today the official launch of ‘Puzzle & Guardians’, its joint project with Baligames, as a MINI App on LINE Messenger in Japan through LINE NEXT Start, a group company of LY Corporation that operates Japanese Web3 business.
‘Puzzle & Guardians’ is a hybrid Web3 title that blends casual 3-match puzzle battles with RPG progression. Players can collect and build a roster of Guardians, engage in 1v1 PvP duels and dungeon play, and earn BORA token rewards by completing in-game missions and participating in event leagues.
With this launch, ‘Puzzle & Guardians’ is now onboarded onto the MINI App platform of LINE, Japan’s largest messenger platform, enabling more than 100 million LINE users to play the game instantly inside the LINE Messenger app without any additional installation. The result is a more intuitive, highly accessible play environment.
In conjunction with the Japan launch, METABORA GAMES has integrated ‘Puzzle & Guardians’ with BORA DEEPS, the core infrastructure service of the BORA ecosystem. Through the BORA DEEPS Quest function, players are offered tailored missions optimized for gameplay, and the rewards they earn can be used across BORA DEEPS’ native content — including its ‘Mini Game’ offering and ‘Scratch’, a raffle-style service. The integration creates a natural virtuous cycle of play and reward, deepening user engagement across the platform.
The company also plans to continuously expand localized content tailored to the Japanese market, delivering a differentiated participation experience for local users. Launch commemoration events will follow, further reinforcing real-world utility for the BORA token.
More information about ‘Puzzle & Guardians’ is available on the official BORA DEEPS channels and the LINE platform.
APPENDIX
BORA DEEPS website: https://intro.boradeeps.com/
‘Puzzle & Guardians’ LINE Mini App URL: https://miniapp.line.me/2008992531-yxrGfhQS
METABORA GAMES is a subsidiary of METABORA, a casual and blockchain game developer, and serves as the development studio behind the blockchain platform BORA.
Centered on BORA DEEPS — a platform that organically connects in-game activities with rewards — METABORA GAMES designs user-participation-driven structures and collaborates with global partners to co-develop and operate Web3 projects across a wide range of genres.
Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.
Bitwise podal u SEC registraci pro spotové Avalanche ETF, které má sledovat hodnotu AVAX a držet pouze tokeny AVAX. Do závodu o schválení se tak přidává k VanEck a Grayscale.
Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.
Has Also Written
Last updated:
September 16, 2025
Bitwise Asset Management filed for SEC registration for a spot Avalanche ETF, joining VanEck and Grayscale in the race to offer institutional exposure to AVAX through regulated investment vehicles.
The passively managed fund aims to mirror Avalanche’s value minus operational expenses, with Coinbase Custody serving as the digital asset custodian.
The filing details a Delaware statutory trust structure offering cost-effective exposure to Avalanche through traditional securities markets.
The trust will hold only AVAX tokens and use the CME CF Avalanche-Dollar Reference Rate as its pricing benchmark, calculated daily at 4:00 PM ET from multiple constituent platforms.
Avalanche Foundation is simultaneously raising $1 billion through two crypto treasury vehicles led by Hivemind Capital and Dragonfly Capital.
ETF Arms Race Intensifies as Multiple Firms Target AVAX ApprovalThe Bitwise registration follows VanEck’s March filing and Grayscale’s Form 19b-4 submission through Nasdaq for Avalanche ETF conversion.
Bloomberg Intelligence assigns high approval odds for altcoin ETFs this year, with institutional demand driving applications beyond Bitcoin and Ethereum products.
Bitwise previously experienced regulatory turbulence when the SEC granted accelerated approval for its 10 Crypto Index ETF in July before reversing the decision hours later through a stay order.
The multi-asset fund would have included Avalanche alongside Bitcoin, Ethereum, XRP, and Solana, with 85% allocation to previously approved components.
VanEck launched the Purpose-built Fund specifically for Avalanche-based businesses, utilizing native real-world asset products and tokenized money market funds.
The fund targets capital appreciation through investments in digital assets with a market capitalization of over $100 million across the finance, payments, gaming, and AI sectors.
Grayscale’s pending conversion of its Digital Large Cap Fund to ETF status includes Avalanche alongside Bitcoin, Ethereum, Solana, and XRP.
The fund maintains a 79.9% Bitcoin allocation and an 11.3% Ethereum allocation, with the remaining assets distributed among approved altcoins.
The competitive landscape intensified as major institutions began to engage with Avalanche’s blockchain for portfolio management and digital asset projects.
BlackRock expanded access to its USD Institutional Digital Liquidity Fund to include Avalanche in November 2024, following initial Ethereum availability.
Chairman Paul Atkins established a crypto task force to develop clear rules, following years of “regulation by enforcement” under the previous leadership.
March decisions on multiple altcoin ETFs were delayed until October, with the Commission citing the need for “longer periods” to consider proposed rule changes.
🇺🇸The SEC has delayed decisions on multiple altcoin spot ETFs, including XRP, Solana, and Litecoin, citing the need for more review. Analysts say it’s standard procedure and remain optimistic about approval.
#CryptoETFs #SEChttps://t.co/Q8aODggS0f
— Cryptonews.com (@cryptonews) March 12, 2025 The approval process involves 21-day public comment periods, allowing industry stakeholders to provide input before final decisions are made.
Avalanche’s proof-of-stake consensus mechanism and subnet architecture differentiate it from Bitcoin’s energy-intensive mining.
The network’s three-blockchain structure supports token creation, validator management, and smart contracts, while enabling custom permissioned blockchains that rely on the main network’s security and integrity.
The simultaneous treasury vehicle launches aim to garner serious institutional conviction through SPAC structures and private placements.
Hivemind Capital’s $500 million vehicle aims for September completion, while Dragonfly Capital’s equivalent SPAC targets October finalization.
At the time of writing, AVAX is trading at $29.91, representing technical momentum testing $30 resistance.
Technical Analysis Points to Breakout Momentum Following ETF FilingAVAX exhibits classic descending wedge characteristics on hourly charts, trading at $29.90 near the pattern’s apex with upper trendline resistance and dynamic support convergence.
Source: X/@JeremyybtcThe coiling effect from multiple tests of wedge boundaries creates optimal conditions for explosive directional moves, particularly with ETF-filing catalysts supporting bullish sentiment.
Long-term weekly charts reveal AVAX breaking above significant descending trendlines containing price action since the 2021 peaks near $147.
The macro perspective shows AVAX’s 240% recovery from cycle lows around $8.50, positioning the token in the critical $30-35 resistance zone.
Sustained trading above current breakout levels could open pathways toward $50 with minimal intermediate resistance.
ETF approval precedents from Bitcoin and Ethereum suggest initial announcements generate 50-100% advances within weeks of confirmation.
The technical setup positions AVAX optimally to capture such moves through descending wedge momentum combined with institutional validation.
AVAX’s immediate trajectory targets the $35-40 region following successful wedge breakouts, with long-term potential extending toward $50 levels based on minimal resistance structures.
BitDAO podezírá Alameda Research z porušení dohody z roku 2021 a z prodeje 100 milionů BIT, které měly být drženy bez prodeje. Požádala ji o důkaz o držbě a Alameda následně přesunula více než 100 milionů BIT na svou adresu.
BitDAO (BIT)suspected FTX founder Sam Bankman Fried's venture capital firm Alameda Research of breaching an agreement made in 2021 and selling its 100 million BIT tokens, causing BIT to plummet.
The DAO community asked Alameda to prove that it still owns its BIT tokens, and Alameda responded by transferring over 100 million BIT tokens from an FTX hot wallet to an Alameda address.
BackgroundAlameda published a proposal titled BIP-4 and offered BitDAO to swap 100 million BIT tokens with Alameda for 3,362.315 FTT tokens and make a public commitment not to sell each others' tokens for three years. The proposal was open for voting between Oct. 20 and Oct. 30 2021 and passed with 100% votes of the participants in favor.
The token swaps took place on Nov. 2, 2021, in three transactions, and both parties agreed not to sell them before Nov. 2, 2024.
Coins plummetOn Nov. 8, both BIT and FTT experienced a sharp 20% decline at around the same time. BIT fell from $0.40 to $0.33, while FTT plummeted from $22.12 to $15.36. Both tokens quickly recovered from a portion of their losses. At the time of writing, BIT is being traded for $0.39, while FTT is priced at $18.184.
BITUSDFTTUSDIn light of recent speculation about FTX's financial stability, the BitDAO community suspected that Alameda may have sold its BIT holdings and caused the sudden dump of both FTT and BIT.
BitDAO's founder and CEO Ben Zhou Tweeted to explain their suspicions and announced that they are asking for proof of funds from Alameda.
Bitdao community is questioning the sudden dump of $bit token caused by Alameda dumping and breaching the 3 yr mutual no sale public commitment. Nothing is confirmed but bitdao community would like to confirm a proof of fund from Alameda. https://t.co/YassKhcdPt
— Ben Zhou (@benbybit) November 8, 2022
CryptoSlate Daily Brief
Daily signals, zero noise.Market-moving headlines and context delivered every morning in one tight read.
5-minute digest 100k+ readers
Free. No spam. Unsubscribe any time.
You’re subscribed. Welcome aboard.
The BitDAO community ensured that the 3,362.315 FTT tokens were safe and sound in the BitDAO treasury, and asked Alameda to ensure BitDAO by transferring the 100 million BIT tokens into an on-chain address so that the BitDAO community can verify.
BitDAO community warned that if Alameda fails to provide sufficient proof of funds within 24 hours:
“It will be up to the BitDAO community to decide (vote, or any other emergency action) how to deal with the $FTT in the BitDAO Treasury.”
FTX respondsResponding to BitDAO's request, over 100 million BIT tokens were transferred from an FTX hot wallet to Alameda's address.
This address is the original address that Alameda agreed to receive its BIT tokens in when the deal was inked in 2021.
BitDAO, a decentralized autonomous organization with a treasury worth over $1.7 billion, has launched an Ethereum Layer 2 network called Mantle, the DAO announced on Wednesday.
Mantle is a modular Ethereum Layer 2 chain. Modular networks are a new way of designing blockchains and are different from the older monolithic chains, where all network functions happen on the base layer. On modular blockchains, there are separate layers for network consensus, transaction execution and settlement, as well as data availability. This type of design is said to create networks that are more efficient and have greater scalability.
BitDAO’s Layer 2 network stack has three distinct layers, according to the announcement. One layer is for transaction execution while the other two handle transaction finality and data availability, respectively.
Mantle is BitDAO’s attempt to solve some of the challenges facing Layer 2 networks, a spokesperson for the DAO told The Block. “BitDAO aims to bring the spotlight back from Alt-L1s to Ethereum and give market participants the best web3, DeFi and GameFi have to offer,” said the spokesperson.
Mantle will reportedly offer superior features compared to other Layer 2 networks. BitDAO’s Layer 2 network will come with faster throughput and low fees, and be powered by a decentralized data availability layer, the announcement stated. Transaction fees on Mantle will be paid using BitDAO’s governance token, BIT.
EigenLayer, an Ethereum middleware platform, is one of the partners in the project. As such, early adopters can use EigenDA, a custom-built data availability layer designed by EigenLayer that supports Optimistic and ZK-Rollups — the two major types of roll-up technology.
Wednesday’s announcement marks the soft launch of the Layer 2 network. Mantle is expected to roll out an incentivized public testnet next year.
A BitDAO spokesperson confirmed that DAO partners can deploy protocols on Mantle when launched. Unlike most DAOs built around specific DeFi projects, BitDAO is more of an investment DAO. BitDAO’s mandate is to grow the web3 ecosystem by providing grants to projects and supporting web3-based research activities. BitDAO has the second-largest DAO treasury in the crypto space.
“Mantle will serve as the connective tissue for various BitDAO initiatives, such as projects from Game7, research from EduDAO, to the ecosystem of dApps being enabled by BitDAO," said jacobc.eth, product head at BitDAO’s Windranger Labs, adding: "Mantle is BitDAO’s demonstration to scale Ethereum and web3, enabling a whole new generation of use cases and innovations.”
Telos se napojil na Stargate, BitGo a Circle, aby rozšířil cross-chain likviditu a přivedl na síť wBTC, USDC a USDT. Integrace má posílit interoperabilitu a DeFi na síti Telos. Přes Stargate bude možné přenášet tokeny mezi Telosem a 30 dalšími sítěmi.
Telos has integrated with several platforms across the crypto ecosystem as it looks to unlock cross-chain liquidity and decentralized finance opportunities.
The Telos Foundation announced the expansion via X, noting that Telos now leverages the technology and solutions of Stargate, BitGo, and Circle to enhance network security, accessibility, and liquidity.
Specifically, Telos is tapping into Stargate, a cross-chain liquidity protocol built on LayerZero, to enable multi-chain native asset transfers. This integration will allow users to bridge tokens between Telos and 30 other networks, opening new opportunities in a multi-chain decentralized finance ecosystem.
Other integrations include with Hydra, a part of Stargate v2 to bring assets such as wrapped Bitcoin (wBTC), USDC (USDC) and Tether (USDT) to Telos.
“By bringing high-value, widely used tokens to Telos, Hydra enhances liquidity accessibility and fosters deeper DeFi engagement,” Telos Foundation wrote.
Telos’ wBTC and USDC integration is via BitGo and Circle, with the two companies among top ecosystem providers. Partnering with BitGo not only brings wBTC to Telos, but also ensures this happens with the support of a provider that can unlock liquidity for institutional access on the platform.
Circle allows for a bridged version of its USDC stablecoin to go live on Telos, with this offering the option for native USDC to deploy on the Telos mainnet.
According to DeFiLlama, the total value locked in DeFi protocols on Telos is currently around $16.6 million. The Telos TVL is spread across decentralized exchanges, lending protocols, real-world asset platforms and liquid staking providers among others.
Telos Foundation said in the announcement that the upgrades and integrations it has secured will be crucial to the Telos blockchain’s interoperability and footprint in DeFi.
“The road is now open for massive liquidity to flow into the ecosystem, making Telos a prime destination for DeFi users and developers,” it noted.
Telos prochází multisigem pro aktivaci BLS Signature Aggregation na mainnetu. Operátoři uzlů musí upgradovat na Spring v1.2.2 nebo Leap v5+, jinak po aktivaci přestanou fungovat správně.
Telos, a cutting-edge L1 chain for low-cost, scalable, and rapid infrastructure, is working on multisig required for the activation of BLS Signature Aggregation on mainnet. The network upgrade underscores a significant move over the years. In its official social media announcement, Telos has mentioned that the node operators need to update the systems they use to Leap v5+ or Spring v1.2.2. On the other hand, failure to carry out this update ahead of the activation will stop the respective node after the enablement of BLS.
Block Producers are now processing the multisig to activate BLS Signature Aggregation on Telos mainnet.
All node operators must upgrade to Spring v1.2.2 or Leap v5+.
❗ Any node (producer or non-producer) that does not upgrade will stop operating once BLS is enabled.
🔧 Latest… pic.twitter.com/7DHl935lw7
— Telos (@HelloTelos) December 6, 2025 Telos Processes Multisig for Exclusive BLS Signature Aggregation Upgrade For the BLS Signature Aggregation upgrade’s mainnet activation, Telos is now processing multisig. The upgrade denotes a key step in the network advancement of Telos. As a result, the platform has advised the node operators to formally update their respective systems to Leap v5+ or Spring v1.2.2 before the activation goes live
Contrarily, if a non-producer or producer fails to implement the upgrade, their node will not operate anymore once BLS becomes fully enabled. Additionally, the BLS Signature Aggregation’s introduction is anticipated to unlock a robust new wave of privacy-focused and zero-knowledge applications. With the optimization of signature validation and aggregation, the platform attempts to enhance throughput, overall transfer efficiency, and scalability on the mainnet.
Reinforcing Telos’ Leading Position for Zero-Knowledge and Privacy Innovation According to Telos, the move also positions the platform as an attractive hub for developers building cutting-edge privacy protocols, confidential smart contract mechanisms, and zk-powered tooling. Additionally, the builders are anticipated to utilize the upgraded cryptographic framework for the development of scalable, efficient, and secure decentralized tools. Ultimately, as the network is implementing BLS Signature Aggregation, it reaffirms its status as a prominent blockchain infrastructure for next-gen zero-knowledge and privacy innovation.
AUTHOR
Umair Younas is a cryptocurrency-related content writer linked with this work since 2019. Here, at Blockchainreporter, he serves as a news and article writer. He is a crypto, blockchain, NFTs, DeFi, and FinTech enthusiast. He has strong command over writing authentic reviews about brokers and exchanges and he has collaborated with our education team to write educational content as well. He has a dream to raise awareness among people about digital currencies. His works are well-researched and brimmed with information hence they provide fresh insights. Stay tuned to his posts if you want to stay up-to-date with the crypto-verse.
Andre Cronje rezignoval z představenstva Sonic Labs a spolu s ním odcházejí i další dva zakladatelé. S mezitím klesl za měsíc zhruba o 37 % a drží se poblíž rekordních minim.
Andre Cronje, the former CTO and board member of Sonic Labs, has resigned. Two other founding members of Sonic, Michael Kong and David Richardson, are also stepping down.
The reshuffle lands while S sits about 91% below its January 2025 peak, reviving questions over whether it has bottomed. Matt Visser becomes the second chief executive in nine months.
Sonic (S) Token Price Performance. Source: BeInCryptoCronje and Co-founders Hand the Board to VisserSonic Labs framed the exits as an orderly handover. Kong, Cronje, and Richardson remain invested in Sonic’s success but will no longer make business decisions, per the team’s announcement. As of now, it’s unclear whether or not they will retain financial stakes in the organization.
The change caps a turbulent year in the C-suite. Sonic named Mitchell Demeter CEO last September to court institutional money, then lost him by February, leaving the founding board to run operations.
Cronje built much of decentralized finance (DeFi) and left those projects abruptly in 2022. He has lately turned to Flying Tulip, a new exchange he is raising money to build.
S Token Tests New Lows as Deposits FleeThe market reaction has been harsh. S recently traded around $0.029, down about 6% in 24 hours and roughly 37% over the past month. It has fallen close to 91% this year.
The slide has cut Sonic’s value to about $111 million, ranking it near 250th. The token sits just above the record low it set on June 6, far below its $1.03 high from January 2025.
The capital flight runs deeper than price. Sonic, which grew from Fantom’s rebrand to Sonic, once hit $1 billion TVL within months of launch.
Total value locked has since collapsed to about $18 million, DefiLlama shows. That is a drop of roughly 98% from a 2025 peak above $1.1 billion.
Sonic TVL. Source: DefiLlama “Woke up today to read about Andre Cronje resigning from Sonic Labs board. Checked CoinGecko and see that token is down 90% in last 1 year. Market cap $116m. So many projects are struggling so much this bear market. Tough year, but probably we haven’t bottomed yet unfortunately,” commented Bobby Ong, co-founder of CoinGecko.
Follow us on X to get the latest news as it happens
Sonic Promises a Reset as Critics Question TimingStill, not everyone accepted the framing. Critics argue that stepping back during a downturn erodes trust.
Worst possible timing.
You don't leave a project in this condition and call it leadership.
At this point, people are right to ask whether Sonic was just another stop before the next shiny opportunity.
This is a dangerous way to erode trust, and it rarely ends well.$S https://t.co/po2TfXQdko
— Nimesh (@NimeshOnchain) June 20, 2026 Sonic insists its survival does not hinge on the token. The team says it carries no venture capital, unlocks, and funds development from a diversified treasury, giving it runway regardless of price.
Management also points to steady output, claiming 400 pull requests merged this year, two releases shipped, and a private testnet running for version 2.2.0.
Visser set expectations modestly, not promising a quick rebound.
“I am not here to promise an instant turnaround. I am here to make Sonic 1% better every single day and let that compound. Show up, do the work, prove it in public, repeat,” read an excerpt in the announcement, citing Matt Visser, Sonic CEO.
Could that discipline help steady the S token?
Sonic (S) Falls 40% In A Month as RSI Flashes Fresh Sell SignalThe Sonic price has slid back toward the record low it set earlier this month. Momentum indicators have turned sharply negative.
S now sits below every major moving average, with sellers firmly in control. Buyers have shown little appetite to defend current levels.
Sonic Price Outlook. source: TradingViewMomentum points to week demand, with the Relative Strength Index (RSI) sitting at 32.50, just above oversold territory and beneath its 33.25 signal line.
The chart marks this crossover as a fresh sell signal, given that every time the RSI crossed below the signal line in the recent past, the price extended the fall.
The reading echoes the mixed signals from a recent volume surge. An RSI reclaim of 40 would hint that selling is cooling.
Now, the S price prediction hinges on a $0.028 floor, as the Sonic token’s value remains pinned beneath a descending trendline and the 20-day EMA at $0.033.
A daily close under the $0.028 support could trigger a retest of the $0.0277 record low, roughly 5% lower.
Reclaiming $0.033 would invalidate the bearish setup. Longer-term forecast models stay cautious.
The Fantom Opera shutdown on June 30 may add volatility as holders finish migrating.
Since launch, Sonic has become the home of the ecosystem – users, builders, liquidity, and validators have all made the move.
With that transition complete, Fantom Opera will be retired on June 30, 2026.
The Fantom Opera network will cease operation at 5:00 PM GMT on June 30,… pic.twitter.com/VrKRlO1FKU
— Sonic (@SonicLabs) April 7, 2026 A hold above $0.028 keeps a rebound alive, while a break below confirms the downtrend.
Osmosis oznámil, že bylo spáleno přes 8 milionů OSMO a nyní je spuštěn automatizovaný mechanismus spalování. Od 10. listopadu 2025 tak denně mizí zhruba 79 000 OSMO.
Osmosis, a decentralized exchange (DEX) and DeFi hub platform built on the Cosmos blockchain, today announced that over 8 million OSMO tokens have been burned and permanently removed from the circulating supply. Late last month, on October 26, 2025, the DeFi platform disclosed a token burning program aiming to decrease the circulating supply of OSMO. The protocol scheduled the first phase of 100 million tokens for burning and permanent removal over the next 30 days.
New Automated Osmosis Token Burn Mechanism: What it means Beginning on Monday, November 10, 2025, Osmosis successfully implemented a new automated burn mechanism following the completion of the final manual burn from taker fees, according to data shared by market analyst Johnny Wyles.
This means that the token burning process now happens in two stages. The first phase (manual stage) involves coordinated changes across the protocol, with collaborations between validators and node operators. The second phase (powered by an autonomous system) runs multiple enhancements to bolster efficiency and reliability, with the automated burning process remaining a continuous process, not just a one-off event.
With the new automated program in place, the daily burn rate is approximately 79,000 OSMO tokens per day, which is equivalent to a monthly burn rate of 2.37 million tokens per month, according to the metrics reported by the analyst. This further translates to an annual burn rate of 28.84 million tokens per year. While this falls short of the target mentioned above, the automated token burn initiative (with time) will efficiently decrease the total market calculation of OSMO tokens. This exercise will improve the market perception of the scarcity of OSMO tokens and build the cornerstone for the price growth.
OSMO Price Analysis and Prediction Despite the token burning program in progress, Osmosis has not experienced significant price movement. Its price, which currently stands at $0.100, has been down 2.5% and 5.5% in the last 24 hours and over the past week, respectively.
The current price of Osmosis is $0.100. With the automated process, the protocol uses network fees to repurchase and burn OSMO, as a result will create a deflationary effect on supply and boost prices in the future. This supply reduction has the potential to bolster the price of OSMO to higher levels because it decreases the availability of tokens and increases scarcity.
AUTHOR
Nicholas Otieno is a fintech writer specializing in cryptocurrency markets. Since 2019, he has written articles to educate readers about cryptocurrency and its substantial positive impact on global prosperity. Nicholas is a Bitcoin holder, believing firmly in its fundamentals. His work has been featured in publications such as Finance Magnates, Blockchain.News, Bitcoin Magazine, Coincub, and among others. When he's not writing, Nicholas enjoys performing domestic tasks, spending time with friends, listening to music, and watching football.
Osmosis navrhuje konverzi OSMO na ATOM a těsnější integraci s Cosmos Hub. Držitelé by mohli směnit OSMO za ATOM během šestiměsíčního okna podle pevného kurzu 1,998 OSMO za 0,0355 ATOM.
Osmosis has proposed converting OSMO to ATOM and tightening Cosmos Hub integration, testing whether chain mergers can boost liquidity, governance, and valuations.
Summary
Osmosis plan offers OSMO–ATOM conversion at a fixed rate over six months, with unclaimed ATOM returning to the Hub community pool. Proposal would bind Osmosis liquidity, security, and governance more tightly to Cosmos Hub, positioning ATOM as the primary base asset. The move sharpens Cosmos’ consolidation vs app‑chain sovereignty debate, putting OSMO and ATOM holders in control via governance votes. Interoperable DEX Osmosis has put forward a sweeping proposal to convert OSMO into ATOM and migrate its core protocol more tightly into the Cosmos Hub, in one of the most aggressive consolidation moves yet seen in the Cosmos ecosystem. The plan would effectively bind Osmosis’s liquidity, security, and governance more directly to the Hub, while offering OSMO holders a time‑limited path into ATOM exposure.
Under the proposal, all circulating OSMO – excluding undeployed community pool tokens – could be converted to ATOM over a six‑month window at a fixed rate of 1.998 OSMO for 0.0355 ATOM. Holders who do not claim within that period would see the corresponding ATOM returned to the Cosmos Hub community pool, concentrating unclaimed value under Hub governance. The structure is explicitly designed to avoid permanent dangling liabilities, while forcing a clear decision from tokenholders on whether they want to align with the Hub or exit.
Strategically, the proposal aims to turn Osmosis from a largely independent app‑chain into a native liquidity engine for Cosmos Hub, potentially simplifying the stack for users and institutional players who view Cosmos as fragmented. By consolidating liquidity and security at the Hub layer, proponents argue that Cosmos can present a cleaner narrative to external capital: one core base asset (ATOM), one primary liquidity venue (Osmosis on Hub), and unified governance. For Osmosis, the move could widen its addressable user base if ATOM’s brand and distribution outweigh the loss of a standalone token.
The trade‑offs are significant. OSMO holders face dilution of protocol‑specific upside in exchange for broader ATOM exposure and tighter alignment with the Hub’s long‑term roadmap. Cosmos Hub, on the other hand, would be implicitly underwriting Osmosis’s future, importing not only its liquidity and fees but also its technical and governance risk. Success would push Cosmos further toward a “hub and spokes” model with ATOM at the center; failure would strengthen the case for app‑chain sovereignty over consolidation.
If passed, the proposal would mark a clear escalation in the ongoing debate over how Cosmos should compete with more monolithic ecosystems like Ethereum and Solana. It would also provide a live test of whether token conversions and protocol mergers can unlock higher valuations and deeper liquidity, or whether they simply shuffle risk and governance complexity from one balance sheet to another. For now, all eyes will be on how both OSMO and ATOM holders respond at the ballot box.
Storj bought Valdi, a provider of high-performance cloud computing, for an undisclosed amount.The deal means that Storj can also offer GPUs to its enterprise clients.Storj, a crypto-backed cloud-storage platform, said it bought Valdi, a provider of high-performance cloud computing, to add graphics-processing-unit (GPU) computing for its enterprise clients.
The Valdi network comprises over 16,000 GPUs globally and provides on-demand processing that is used for artificial intelligence (AI) training in industries such as technology, research and life sciences, Storj said in a press release. Terms of the deal were not disclosed.
Surging demand for power and infrastructure from AI and high-performance computing firms (HPC) has seen some bitcoin BTC$61,650.42 miners pivot away from mining. Core Scientific (CORZ) recently signed a 12-year, 200 megawatt (MW) AI deal with cloud computing firm CoreWeave.
“Today’s enterprises demand new high-performance cloud solutions to innovate affordably and sustainably,” Storj chief revenue officer Colby Winegar said in the release.
Valdi aims to address the shortage of GPUs driven by the growth of the artificial intelligence market by allowing customers to use available GPU compute cycles in data centers across the world, Storj said.
“Valdi’s global network of data centers with high performance cloud compute is a natural extension of Storj’s distributed cloud and particularly exciting as our joint storage and GPU offering is optimized for Generative AI workloads,” Winegar said.
Storj se dohodl na akvizici společnosti Inveniam. Pro držitele STORJ se nic nemění: token zůstává jednotkou pro storage a bandwidth a bude dál obchodován na burzách.
As you may have seen, Storj has agreed to be acquired by Inveniam, the global leader in decentralized AI technology for private markets. This marks an exciting new chapter for Storj as we continue to grow and expand our decentralized cloud storage and compute network.
This acquisition strengthens the foundation of our community. With Inveniam’s support, we’ll accelerate development, expand partnerships, and continue innovating while keeping STORJ an important part of our ecosystem.
While we’re excited about what’s ahead, we want to ensure we’re clear about what this means for you as a STORJ tokenholder right now:
No changes to STORJ’s utility: The token will continue to be the unit of exchange for storage and bandwidth on the Storj network.Node operator payments remain the same: You’ll continue earning STORJ for contributing storage and bandwidth. Trading and liquidity are unaffected: STORJ will remain listed on exchanges. Our mission remains largely unchanged: Storj’s focus on building the best distributed storage and compute platform remains steadfast. Partnering with Inveniam means gaining more support and resources to continue advancing our mission and vision. We deeply value your support as customers, partners, node operators, and tokenholders. Together, we’ve built the most secure and performant distributed storage network in the world, and this milestone ensures we can take it even further.
By joining forces with Inveniam, we expand our footprint and increase the financial resources to continue to grow and invest in the Storj ecosystem. We also become part of an organization that is a leader in complementary spaces, such as the tokenization of real-world assets. While more on our joint plans are forthcoming, part of the attraction for working with Inveniam was their interest in creating a distributed and decentralized marketplace for cloud computing resources generally, where blockchain plays a critical role.
For more details, please read our full announcement [link to corporate press release] and visit our blog post and FAQ.
The Dogelon Mars community has approved a proposal to expand the ELON token to the BNB Chain through a vote that concluded on August 24, 2025. This decision, driven by community members, aims to bridge the token to the BNB Chain, thereby improving accessibility and reducing transaction costs.
Overview of Dogelon Mars and the ELON TokenDogelon Mars, known by its ticker $ELON, is a memecoin that debuted in April 2021. It draws inspiration from themes involving Elon Musk, canine motifs similar to those found in Dogecoin and Shiba Inu, and concepts of space exploration focused on Mars colonization. The token functions as an ERC-20 standard on the Ethereum blockchain, with existing bridges to Polygon and Solana for broader use.
The project's narrative centers on a fictional comic storyline featuring a character named Dogelon, a dog-like figure navigating galactic adventures to recolonize Mars while confronting threats such as annihilators. This story has helped build a large community on X and Telegram.
ELON is available on Decentralized Exchanges (DEX), including Uniswap on Ethereum, QuickSwap on Polygon, and Raydium on Solana. It also trades on centralized platforms including Gate.io, HTX, and LBank.
The token emphasizes community governance through the Dogelon DAO, where holders use their tokens to vote on proposals. Previous community decisions have included burning 1 trillion ELON in March 2024, releasing NFT collections like Dogelon, and forming partnerships, such as with Meme Alliance FPS in April 2024.
The proposal to expand Dogelon Mars to the BNB Chain was submitted by a community member on August 17, 2025, via the Dogelon DAO forum. The initiative aimed to bridge the ELON token to BNB Chain. This blockchain is recognized for its high throughput and low transaction fees, often below $0.01 per operation, along with a substantial user base.
The rationale outlined in the proposal highlighted BNB Chain's increasing activity in daily transactions and decentralized finance volume. Proponents argued that this move would reduce dependence on Ethereum's higher gas fees, attract users from the Binance ecosystem, and facilitate cross-chain liquidity. The expansion positions ELON as a multi-chain asset, complementing its presence on Ethereum, Polygon, Solana, and even Bitcoin through a rune airdrop in December 2024.
Specific actions proposed included bridging ELON using secure protocols, establishing liquidity pools on BNB decentralized exchanges such as PancakeSwap, introducing staking and yield farming programs, and pursuing collaborations with BNB Chain protocols for marketing and integration. Ethereum would remain the primary chain, with mechanisms for seamless transfers across networks.
Voting options were straightforward: yes or no on the expansion. Community discussions on the forum addressed the potential benefits of trading, staking, and yield farming, while also noting concerns about token dilution and implementation challenges. The proposal emphasized BNB Chain's compatibility with the Ethereum Virtual Machine, which simplifies the transition for developers.
The vote took place via the Dogelon DAO on Snapshot, a tool that enables gas-free voting based on token holdings. It ran from August 17 to around August 24, 2025, aligning with standard DAO timelines. Following the conclusion, the protocol took to X that the vote was passed.
Final Thoughts: Potential Impacts of the BNB Chain LaunchThe expansion to BNB Chain could offer lower entry barriers for users, integration with Binance tools like wallets and decentralized exchanges, and decentralized finance features such as staking with potential annual percentage yields of 10% to 20%, comparable to those of other projects. This fits ELON's multi-chain approach, which may enhance adoption and increase token burns through transaction fees.
Risks include liquidity spread across multiple chains, reliance on BNB's ecosystem amid regulatory scrutiny of Binance, and inherent volatility associated with memecoin investments. Past expansions, such as the Solana bridge, have led to short-term price movements followed by stabilization, without guaranteeing long-term gains.
In the meantime, the vote has been passed, but no launch date has been set. Implementation typically occurs within weeks to months, involving the setup of a bridge and the addition of liquidity. BSCN recommends following the official Dogelon Mars X account to stay updated with further developments.
Resources:
Dogelon Mars X account: https://x.com/DogelonMars Dogelon Mars Website: https://dogelonmars.com/ Dogelon Proposals: https://dao.dogelonmars.com/
Illuvium restrukturalizuje tým a snižuje měsíční burn rate blíže k 500 000 USD. Projekt má nyní 24měsíční runway a podle Kieran Warwicka nehledá nové financování.
Ethereum gaming franchise Illuvium has undergone a company restructuring, resulting in layoffs along with some core contributors opting to take pay cuts or receive their wages in the gaming IP’s own token.
The downsizing comes after Illuvium released a trio of interconnected games last year—Overworld, Arena, and Zero—that covered varying genres. Despite its ambitious vision, the community's reaction wasn't overwhelmingly positive following years of development.
In December, co-founder Kieran Warwick admitted that "concerns" about the franchise's gameplay were valid and that things had to change. Part of this included that Illuvium had "significantly" reduced its costs via capping wages at $85,000, among other adjustments.
But this week, Warwick said that more substantial cuts had to be made.
"We made the difficult decision to restructure our core contributor team to bring our monthly burn rate closer to $500,000," Warwick said in a Tuesday statement. "We want to extend our sincere gratitude to everyone affected by these changes."
The statement on X (formerly Twitter) further explains that some employees have "generously offered" to take pay cuts, while others have chosen to receive their salary in the project's ILV token rather than the USDC stablecoin. It also alludes to letting employees go as part of a “leaner” approach, although never explicitly says this is the case.
In the replies, Illuvium Community Manager DickKingz, also known as Rich, explained that the team is now down to 66 core contributors—down from between 100 to 150 people as of late.
"The trim to 66 was unfortunately a lot of my teammates and friends, and [I] hate to see them go," Rich said. "Hopefully it’s only bye for now, and in the future when things improve, we can bring many back."
Illuvium did not immediately respond to Decrypt's request for comment.
As a result of the restructuring, as well as some other operating cost cutting measures, Illuvium has gotten closer to its "burn rate" goal of $500,000—it was at $900,000 as of December. This means that the Illuvium franchise now has a 24-month runway to continue development.
Previously, Warwick explained that Illuvium planned to seek fresh funding around March. But in the wake of the restructuring, he confirmed that the franchise isn't looking to raise "right now."
He had also previously outlined a plan to move the franchise forward. The co-founder proposed focusing on one game at a time—rather than the three games it was developing—including reworking its Overworld to be a more streamlined version of a massively multiplayer online game, or MMO, and reducing in-game microtransactions.
It appears that the 24 month-runway will get the project to the point of completing its auto-battler, starting the rework of Overworld, and attempting to keep the community engaged, according to the restructuring statement.
"This is step one in the rebuild. Now we have the runway, and it will continue to be extended," Warwick said on X. "Enormous updates are coming mid-next month: Auto drone runs, multiplayer servers, and leaderboards reactivated."
"28-3 down with two minutes to go in the third quarter," he added, comparing the project to a losing team in a football game. "We're about to run this shit back so hard."
Edited by Andrew Hayward
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
