Solana-based Drift Protocol has suffered the largest exploit of 2026 to date, losing nearly $300 million in a “highly sophisticated operation” that has raised concerns about the growing threat of human-targeted attacks in the crypto space.
Solana DEX Loses $285M On April Fool’s Day On Wednesday, Solana-based decentralized exchange (DEX) Drift Protocol was the victim of an exploit that stole hundreds of millions of dollars from its vaults. After online reports flagged unusual on-chain activity yesterday afternoon, Drift’s official channels confirmed the attack, quickly suspending deposits and withdrawals.
Drift Protocol confirms the attack. Source: X According to reports, the attack lasted less than 20 minutes and stole around $285 million in multiple assets, including USDC, JPL, USDT, JUP, USDS, WBTC, and WETH, from nearly 20 vaults. This marks the largest crypto exploit of 2026 to date, and one of the largest hacks in the industry, just above WazirX’s $235 million hack.
The hack wiped out half of the Solana-based project’s total value locked (TVL), which fell from roughly $550 million to $252 million, per DeFiLlama data. Drift protocol’s token, DRIFT, also plunged, retracing nearly 40% over the past 24 hours.
Within hours, the exploiter had swapped $270.9 million into USDC, bridged them from Solana to Ethereum via the CCTP TokenMessengerMinterV2, and purchased 129,000 ETH, splitting them across multiple wallets.
In a Thursday post, Drift shared the details of the incident, affirming that “a malicious actor gained unauthorized access to Drift Protocol through a novel attack involving durable nonces, resulting in a rapid takeover of Drift’s Security Council administrative powers.”
Solana’s durable nonces are an advanced mechanism that allows transactions to bypass the typical short expiration date of regular transactions. This enables users to pre-sign transactions for future execution, offline signing, or complex multisig workflows.
“This was a highly sophisticated operation that appears to have involved multi-week preparation and staged execution, including the use of durable nonce accounts to pre-sign transactions that delayed execution,” the post continued.
Malicious Actors Targeting Humans, Not Smart Contracts The Solana-based DEX emphasized that the exploit was not the result of a bug in Drift’s programs or smart contracts, noting that they found no evidence of compromised see phrases either.
“The attack involved unauthorized or misrepresented transaction approvals obtained prior to execution, likely facilitated through durable nonce mechanisms and sophisticated social engineering,” the project underscored.
Lily Liu, President of the Solana Foundation, addressed the incident, asserting that it is a blow to the whole Solana ecosystem. Liu pointed out that “Smart contracts held up. The real targets now are humans: social engineering and opsec weaknesses more than code exploits.”
Ledger CTO Charles Guillemet linked Drift’s attack method to Bybit’s $1.4 billion hack, which was attributed to North Korean hacking groups. As he explained, the attackers likely compromised several machines belonging to multisig signers through long-term infiltration and misled operators into approving the malicious transactions.
This modus operandi is similar to the Bybit hack last year, widely attributed to DPRK-linked actors. The pattern is becoming familiar: patient, sophisticated supply-chain-level compromise targeting the human and operational layer, not the smart contracts themselves.
Guillemet affirmed that the incident is “yet another wake-up call for the industry” to raise the bar on security. “Ultimately, security is not just about code audits. It’s about giving operators and users the right information at the right time, so they can make informed decisions about what they sign,” he concluded.
Solana trades at $76 in the one-week chart. Source: SOLUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
Shiba Inu has attracted significant attention after millions of its tokens were burned within the last 24 hours. Over 6 million SHIB were removed from circulation in a single day, sent to inactive wallets and effectively destroyed. This aggressive burning trend pushed the total number of SHIB tokens burned over the past week to 33.5 million, while in the last 30 days, it reached close to 197.4 million. Since its inception, over 41% of the one quadrillion SHIB tokens initially issued have been burned—amounting to more than 410.8 trillion tokens, with an approximate total value near $7.36 billion. Recent data shows the daily burn rate jumped 37%, even as the weekly rate declined by more than 40%.
Rising interest for Shiba Inu in IndiaTrading activity for Shiba Inu has seen notable growth, especially on major Indian exchanges. On the WazirX exchange in April, SHIB ranked as the second most traded cryptocurrency, coming just behind Bitcoin. Ethereum, Dogecoin, and XRP also appeared among the top assets with high trading volumes, but SHIB’s momentum stands out in the Indian market.
Kuro, an active member of the Shiba Inu community, emphasized on social media that interest from Indian investors remains robust and shows no sign of slowing.
“It looks like SHIB’s popularity in India is not going to stop any time soon,” Kuro observed, highlighting ongoing enthusiasm.
These comments reflect the sustained community excitement around SHIB in India, which continues to bolster its liquidity and market presence.
Performance and critical price benchmarksThe broader appetite for cryptocurrencies has been boosted in part by record surges in exchange trading volumes. This bullish environment has especially supported the upward movement seen in altcoins like Shiba Inu. According to CryptoAppsy data, SHIB rose by 2% over the past 24 hours, currently trading at $0.00000641. The weekly price increase has reached 3%.
Shiba Inu’s market dynamics also benefitted from last Friday’s US employment report, which showed an increase of nearly 115,000 jobs and contributed to the overall positive financial sentiment. While SHIB dipped to a low of $0.00000607 on April 30, it has mostly traded in a range between $0.0000058 and $0.00000656 since mid-March.
A key technical indicator also signals optimism: SHIB has remained above its daily 50 simple moving average. Experts suggest that the price could soon aim for the daily 200 moving average, which currently sits at $0.00000730.
Such technical resilience, alongside active community engagement and international trading momentum, is reinforcing SHIB’s appeal among both retail and institutional investors alike.
While these burn rates and trading patterns illustrate encouraging signals, market participants are closely watching for a decisive move above current resistance levels.
The continued coordination within the SHIB ecosystem, combined with increased adoption in emerging markets, may further shape its price direction in the coming period.
Despite recent volatility, Shiba Inu’s lasting popularity in strategic regions and ongoing supply destruction continue to be key drivers behind its recent market activity.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The operational and compliance landscape for international digital asset enterprises is facing heightened legislative oversight in South Asia as India accelerates its efforts to formalize a national crypto policy. In a major sovereign policy development, India’s Parliamentary Standing Committee on Finance has convened an extraordinary high-level consultation meeting directly engaging executive leadership from the world’s largest digital asset exchange, Binance, alongside prominent domestic trading platforms WazirX and ZebPay. This legislative intervention represents a critical turning point in the nation’s long-debated approach to virtual digital assets, which has historically leaned heavily on restrictive fiscal measures rather than a unified statutory framework. By bringing both offshore giants and major domestic pioneers to the same parliamentary table, the committee signals a definitive shift toward active, structural state oversight designed to balance consumer protection with technological innovation.
Harmonizing Cross-Border Compliance and Levelling the Domestic Playing Field The primary objective of the parliamentary panel is to establish clear jurisdictional boundaries and robust enforcement mechanics for offshore platforms operating within India’s massive retail sector. This focus has intensified following Binance’s high-profile interaction with the nation’s Financial Intelligence Unit, which resulted in significant tax dispute resolutions and mandated a formal registration process for the global exchange to legalise its domestic user base. Indian lawmakers are deeply concerned with ensuring a level playing field, as local exchanges like WazirX and ZebPay have repeatedly argued that strict domestic fiscal policies—such as the flat thirty percent capital gains tax and the mandatory one percent tax deducted at source framework—have driven substantial trading volumes away to non-compliant offshore entities. By enforcing identical anti-money laundering protocols and geographic reporting requirements across all platforms, the state aims to eliminate these regulatory arbitrage gaps, domesticate capital flight, and ensure that every transaction involving an Indian citizen adheres strictly to the country’s financial guidelines.
Structuring the Future Statutory Architecture and Overcoming Inter-Agency Gridlock Beyond immediate compliance enforcement, the consultation serves as the foundational groundwork for the government’s upcoming, highly anticipated cryptocurrency legislation paper. The parliamentary committee is actively evaluating competing structural proposals regarding which domestic authority should command ultimate oversight over virtual assets. While the central bank continues to maintain a highly conservative stance due to perceived threats to monetary stability, alternative legislative models suggest distributing supervision across specialized market agencies based on asset classification, effectively separating the oversight of stablecoins, utility tokens, and investment securities. Furthermore, the introduction of private member initiatives like the Asset Tokenisation Bill in parliament has expanded the legislative debate to include real-world asset tokenization, pushing lawmakers to look past basic speculative retail trading. The outcomes of tomorrow’s direct dialogue with exchange executives will directly shape the definitive legal parameters of the upcoming statutory framework, determining how digital asset platforms manage liquidity and scale operations within one of the world’s fastest-growing digital economies.
About the Author: Karthik Subramanian
Karthik Subramanian is a founder, writer, and technology consultant with nine years in the crypto ecosystem. He covers token economics, L1/L2 infrastructure, DeFi protocols, wallets/custody, and the bridge between crypto and forex—broker technology, liquidity, and macro drivers. Karthik’s writing focuses on clear, practical frameworks that help professionals evaluate new products and on-chain innovation alongside FX market realities.
India’s Standing Committee on Finance convened at Parliament House Annexe in New Delhi on May 20 to hear oral evidence from representatives of ZebPay, Binance, and WazirX on the subject of virtual digital assets and the way forward.
The hearing marks one of the most formal engagements between India’s legislative apparatus and the global crypto industry to date, coming after years of regulatory ambiguity that drove significant trading volume to offshore platforms.
The Tax That Drove Volume OffshoreIndia introduced a 30% flat tax on crypto gains with no loss offsetting provision in 2022, alongside a 1% TDS on every transaction. The measures did not suppress adoption. They redirected it. Exchanges outside Indian jurisdiction absorbed the volume, removing it from Indian tax collection and Indian consumer protection frameworks simultaneously.
The Lok Sabha session represents a recognition that discouragement has not worked and that structured engagement is the more productive path.
Exclusive: Pi42 CEO Speaks to CoinpediaAvinash Shekhar, Co-Founder and CEO of Pi42, spoke to Coinpedia about the significance of Wednesday’s parliamentary session.
“India bringing major global and domestic crypto platforms into formal policy discussions is a significant step for the industry’s long-term evolution,” Shekhar said. “It signals that the conversation is gradually moving from uncertainty toward structured engagement between policymakers and the ecosystem.”
Shekhar said the scale of India’s existing user base makes regulatory clarity increasingly urgent.
“India already represents one of the world’s largest digital asset user bases, and with participation continuing to grow, regulatory clarity becomes increasingly important for investor protection, market transparency, and responsible innovation.”
He described the practical value of direct dialogue between policymakers and practitioners.
“These discussions can help policymakers better understand how areas such as compliance, custody, taxation, cybersecurity, and cross-border transactions function in practice. They also create an opportunity to build frameworks that are aligned with India’s financial priorities while learning from global regulatory models.”
On the stakes of getting the framework right, Shekhar was direct.
“A balanced and well-defined framework would strengthen confidence among users, institutions, and businesses, while encouraging more innovation and liquidity to remain within regulated Indian platforms rather than moving offshore.”
The Compliance Infrastructure ChallengeThe regulatory conversation in India extends beyond crypto alone. Raghuveer Kancherla, Co-Founder at compliance infrastructure company Sprinto, told Coinpedia that the broader fintech regulatory environment compounds the challenge for companies operating across multiple verticals simultaneously.
“India’s fintech regulatory environment is both complex and fast-moving,” Kancherla said. “RBI, SEBI, DPDP, and emerging crypto frameworks mean the rules governing these businesses are changing in real time. For companies operating across payments, digital assets, and lending, these are multiple compliance challenges compounding simultaneously.”
He described the operational burden this creates for growing companies.
“Every new framework adds surface area. Every audit cycle creates drag. Teams trying to manage this manually are spending more time on compliance operations than on the business itself.”
Kancherla argued that the pace of regulatory change has outgrown manual compliance management entirely.
“Manual GRC was not built for this pace. Autonomous GRC is the only way to keep up by monitoring continuously, adapting in real time, and treating compliance as infrastructure rather than overhead.”
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India’s crypto sector is once again under regulatory focus after a Parliamentary Standing Committee on Finance reportedly classified the country’s virtual digital asset (VDA) ecosystem as “high risk.”
The discussion brought together senior government officials, tax authorities, intelligence agencies, and representatives from major exchanges, including Binance, WazirX, and ZebPay.
Officials reportedly warned lawmakers that crypto-related activity in India is no longer just about speculation or volatile trading. Intelligence inputs linked parts of the ecosystem to money laundering, cyber fraud, terror financing, narcotics trafficking, human trafficking, Ponzi schemes, and illegal cross-border fund movement.
The committee, chaired by BJP MP Bhartruhari Mahtab, was briefed by senior officials from the Revenue Department, Corporate Affairs Ministry, and the Central Board of Direct Taxes (CBDT).
Massive Compliance Gap Raises AlarmOne of the biggest concerns discussed during the meeting was the widening gap between crypto trading activity and tax disclosures.
According to officials, nearly 6.45 lakh individuals were subjected to TDS deductions on crypto transactions during FY23. However, only around 1.39 lakh users actually disclosed crypto-related income while filing tax returns. The mismatch has now become a major red flag for regulators and tax authorities.
Despite India already imposing a 30% tax on crypto gains along with a 1% TDS rule since 2022, trading activity remains strong.
Lawmakers reportedly noted that “thousands of crores” continue flowing into digital assets, with a significant portion moving to offshore exchanges outside India’s direct regulatory oversight.
Enforcement Actions Are IncreasingIndia has also intensified enforcement over the past year. The Financial Intelligence Unit of India (FIU-IND) reportedly initiated 52 compliance proceedings under anti-money laundering laws, mainly targeting offshore crypto firms operating without proper registration.
Authorities imposed penalties totaling ₹29 crore on platforms including Coinbase, Binance, KuCoin, and Bybit. Officials also blocked 63 URLs and disabled access to 85 crypto-related websites and platforms for non-compliance.
Meanwhile, crypto tax collections have continued rising sharply. VDA-related tax revenue reportedly climbed from ₹269 crore in AY 2023-24 to ₹437 crore in AY 2024-25, while TDS collections increased to ₹364.62 crore.
Government Studying Global Crypto ModelsIndian policymakers are now studying crypto regulations adopted by countries including the US, EU, Japan, Brazil, and China before deciding the next phase of regulation. Officials are also considering stricter reporting norms, PAN-linked crypto ownership tracking, and uniform valuation standards as oversight around the sector continues to tighten.
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Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
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North Korean hackers and shattered on-chain projects have left several decentralized finance blockchains struggling, with tens of millions in user asset outflows.
Data from DefiLlama shows that multiple DeFi chains have lost around 90% of total user deposits over the years, particularly since the last crypto cycle. On-chain analyst 0xThoor identified Ethereum Virtual Machine-compatible blockchain Harmony as the biggest drop regarding DeFi total value locked.
Harmony launched its layer-1 mainnet in 2019, two years before the previous bull run and its 2021 peak. By January 2022, Harmony’s TVL reached an all-time high, surpassing $1.4 billion.
Harmoney TVL down 99% | Source: DefiLlama Six months later, in June, North Korean hacker group Lazarus stole $100 million from Harmony’s Horizon bridge in one of DeFi’s largest hacks to date. Harmony’s user deposits steadily declined from that point. The protocol held $1.7 million in TVL by publishing time, down 99% from its 2022 ATH.
DeFi TVL for projects like Aurora, Moonrise, Canto, and Evmos have also tumbled by at least 90%. Even Polygon, a popular Ethereum-based scaling solution, has lost 92% of its TVL. Crypto deposited on the L2 from $9.9 billion in 2021 to $700 million in early 2025. “Many more TVL charts will look like this over the coming years,” 0xThoor tweeted on Feb. 10.
Total DeFi TVL currently hovers above $106 billion, down from $175 billion in 2025. Despite major protocol collapses, projects like Coinbase-incubated Base and emerging Bitcoin DeFi operability may propel the on-chain ecosystem to new heights as adoption accelerates.
Harmony led with a 26% rise in developer activity, followed by Gnosis (+25%), Avalanche (+23%), and Arbitrum (+20%).
Amid a notable downturn in the digital asset markets, blockchain developer activity has continued to rise, defying concerns that the ‘crypto market is dead.’
A recent report from Santiment highlights growth in development efforts across the top ten crypto ecosystems, with increases ranging from 11% to 26% in the past month.
Increased Developer Activity According to analysis from the blockchain analytics firm, the Harmony network recorded the highest increase in development activity, jumping by 26%, with a 4.7% rise in active contributors. Gnosis followed closely with a 25% surge, although it was the only blockchain to report a drop of 2.2% in contributors.
Avalanche and Arbitrum also experienced gains, with activity rising 23% and 20%, respectively. Despite being hit the most by the recent marketwide downturn, the Ethereum network saw a 13% jump in development events and a 1.9% rise in active contributors.
The BNB Chain ecosystem recorded a 17% increase in developer activity, while Polygon and Solana, two of the most actively used blockchain networks, saw engagement grow by 19% and 17%, respectively. Meanwhile, Cosmos had a 9% rise in efforts, with a notable 2.8% uptick in the number of contributors.
Crypto Market Downtown These figures come against a backdrop of a declining crypto market. CoinGecko data shows that the total market capitalization has crashed by almost 10% over the past 24 hours to $2.84 trillion.
Investor sentiment has also taken a hit, with the Crypto Fear and Greed Index plunging from 49 to 10 at one point, a shift from “neutral” to “extreme fear.”
You may also like: Jaredfromsubway Hacker Ignores 50% Bounty, Routes Funds to Tornado Cash BitMine, SharpLink, and Joe Lubin Back New Ethereum Nonprofit ETHLabs New Proposal Redirects 10% of Staking Rewards to Fund Ethereum Ecosystem BTC is trading at $83,833 after an 8.9% decline, with its market cap falling from $1.85 trillion to $1.66 trillion. ETH has been hit even harder, tumbling 10.9% to $2,091, its lowest price in 16 months. Analysts warn the token could retreat to $1,200, revisiting bear market lows from late 2022.
Several altcoins also dipped steeply following a brief Trump-driven rally over the weekend. At the time of writing, XRP had dropped 8.5% to $2.36, SOL had fallen 14.7% to $136.4, and ADA had taken the hardest hit, plunging 15.6% to $0.804. The rally had been caused by President Donald Trump’s announcement that a proposed U.S. crypto strategic reserve could include these assets.
However, the market reacted negatively to Trump’s confirmation that new 25% tariffs on imports from Canada and Mexico will take effect Wednesday, along with plans to double tariffs on Chinese goods from 10% to 20%.
SEC Chair Paul Atkins has firmly rejected speculation that he could step in as chair of the Commodity Futures Trading Commission (CFTC). Despite his name surfacing in discussions, Atkins stressed he has no interest in holding two positions.
Atkins Rejects CFTC Role, Pushes Clearer Crypto Rules and Agency Harmony Speaking in a new interview, Atkins said he is focused on aligning the work of regulators, not taking on another role. Atkins’ comments come as Washington circles debate who will lead the CFTC after the administration’s original nominee stalled.
President Trump is now considering a new CFTC chair pick amid tensions over the nomination process. He argued that the real issue is building cooperation between the agencies to create consistent oversight for markets.
“Thanks but no thanks,” he remarked, adding that harmonization between the SEC and CFTC is the path forward, not a merger. The SEC chair also discussed broader reforms shaping U.S. financial markets. He acknowledged that Congress is preparing legislation that would shift some oversight of crypto assets to the CFTC.
Atkins said the SEC should not be seen as the “Securities and Everything Commission” and welcomed clearer rules that define what counts as a security.
In particular, he criticized reliance on the decades-old Howey test, which determines whether certain assets fall under securities law. “The Howey test is very vague,” Atkins said. “It’s a ‘you know it when you see it’ problem. Guidance from Congress would be very helpful”.
Atkins Prioritizes SEC Reforms as White House Pushes Market Changes Atkins also pointed to the White House’s pressure for market structure legislation by the end of the year. He noted President Trump made that demand clear during the signing of the GENIUS Act. This is a sign that there is strong political momentum behind the regulatory change.
His rejection of the CFTC role may ease concerns about leadership conflicts, especially as the SEC and CFTC prepare a joint roundtable aimed at harmonizing their crypto regulatory frameworks. It shows he is focused on leading the SEC into a new era, where, market participants have a better perspective about the agency compared to the previous regime.
Beyond crypto, Atkins is moving to reshape rules for public companies. He wants to reduce quarterly reporting requirements, an idea that has long circulated in policy circles. His broader goal is to restore confidence in public markets and encourage more companies to pursue IPOs.
U.S. Securities and Exchange Commission Chairman Paul Atkins called crypto his top priority. (Jesse Hamilton/CoinDesk)Summary
At a joint roundtable of the Securities and Exchange Commission and the Commodity Futures Trading Commission in Washington, the SEC chief spoke about how much crypto is the leading policy area they need to move forward on.The roundtable was about harmonizing rules between the agencies that have often been at-odds, including over treatment of digital assets. WASHINGTON, D.C. — U.S. Securities and Exchange Commission Chairman Paul Atkins said that "crypto is job one" as his agency hosted a Monday roundtable focused on harmonizing policy work with its sister regulator, the Commodity Futures Trading Commission.
Both agencies are set to have central roles in overseeing the digital assets markets in the U.S., with the SEC overseeing crypto securities and the CFTC — especially after it's expected to be given more authority by Congress — supervising the bulk of digital assets transactions. But leaders of both have said they want the borders between securities and commodities to be seamless, allowing single firms or even apps to traverse both without difficulty.
"Our two agencies must work in lockstep," Atkins told a crowd of financial compliance lawyers and industry representatives at the SEC headquarters in Washington. "What matters is building a framework where our agencies coordinate seamlessly."
Read More: SEC, CFTC Chiefs Say Crypto Turf Wars Over as Agencies Move Ahead on Joint Work
The CFTC Acting Chairman Caroline Pham added, "It's a new day, and the turf war is over."
Though it's an unusually powerful sentiment from these agencies, which have often been at odds with each other, the CFTC side is still absent a permanent leader to assure its strategic decisions won't be shifted under new management. But Pham spent some of her time at the microphone assuring the crowd that her agency is moving at a rapid pace under her leadership.
"The CFTC is alive and well, and there needs to be no more FUD about what's going on," she said, evoking the common crypto-world acronym for "fear, uncertainty and doubt."
Atkins commented on the CFTC leadership under Pham, with whom he's been working together on crypto initiatives, as "full-speed ahead."
On the sidelines of the roundtable event, the SEC chairman told reporters that "obviously, top priority right now is crypto."
He said in response to a question from CoinDesk that President Donald Trump "kind of laid down the gauntlet" and wants to sign a market structure bill by the end of the year. "We'll see how that goes."
Asset tokenization will be one particular area of SEC focus, he said, though he said it may take "a year or two" to erect regulatory guardrails around the activity.
"The potential is pretty much endless," he said.
Atkins also dismissed speculation about the SEC and CFTC merging, calling it "fanciful."
The Monday roundtable was the latest SEC event that put some focus on the crypto space, though this one represented a wider cooperation between the agencies. Weighing in on the panels were digital assets and blockchain leaders from such firms as Kraken, Crypto.com, Polymarket, Kalshi and Robinhood Markets.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
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US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
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CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
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Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
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The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
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US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Blockchain.com has successfully registered with the UK’s FCA after a four-year effort, signaling growing regulatory clarity in the region. Increased regulatory approval builds institutional confidence and shifts focus toward solving core crypto challenges like fragmented liquidity. LiquidChain is a Layer 3 protocol designed to unify liquidity from Bitcoin, Ethereum, and Solana into a single execution layer. After a protracted four-year process, crypto exchange and wallet provider Blockchain.com has officially secured registration as a cryptoasset business with the UK’s Financial Conduct Authority (FCA).
The development marks a significant milestone, not just for the London-based company, but for the broader UK digital asset landscape. It signals a move toward greater regulatory clarity in a key global financial hub. That kind of clarity breeds confidence. And it lays the trust foundation needed for the next wave of innovation to actually ship, not just get pitched.
The road to approval was anything but smooth. Blockchain.com initially withdrew its application in March 2022, facing an impending deadline without a clear path to licensing. Its return and subsequent success underscore a thawing in the relationship between crypto firms and UK regulators. This approval allows the firm to offer digital asset services to its UK customers in full compliance with anti-money laundering and counter-terrorist financing regulations.
In practical terms, it helps normalize crypto operations, moving them from a regulatory grey zone into the mainstream financial ecosystem. What changes on day one? Not much.
The signal to larger pools of capital? Huge, because institutions track these green lights closely. As institutional players and cautious capital observe these developments, the demand for robust, transparent, and scalable on-chain infrastructure is exploding. The market is maturing beyond isolated ecosystems, and the next frontier is unifying them.
That’s exactly where new protocols built for a regulated, cross-chain world are starting to find their footing. Projects like LiquidChain ($LIQUID).
LiquidChain Fuses $BTC, $ETH, and $SOL Liquidity As regulatory frameworks solidify, the focus shifts to solving crypto’s core technical challenge: fragmented liquidity. Billions of dollars are locked in separate, siloed ecosystems like Bitcoin, Ethereum, and Solana, creating inefficiency and poor user experiences.
LiquidChain ($LIQUID) is a new Layer 3 protocol engineered to dismantle these walls. It’s building a unified liquidity layer that fuses the three largest crypto ecosystems into a single, cohesive execution environment.
This isn’t just another bridge. LiquidChain’s architecture lets developers deploy an application once and gain native access to the liquidity and user bases of Bitcoin, Ethereum, and Solana simultaneously. The second-order effect is a sharp drop in complexity for both builders and users. No more juggling risky wrapped assets or multi-step cross-chain swaps.
Instead, the protocol offers Single-Step Execution, where complex operations across chains are settled verifiably in one go. Ambitious? Absolutely, but it’s already resonating with early backers. The project’s presale has drawn notable interest, raising over $533K with its $LIQUID token priced at just $0.0136. That early momentum suggests a strong appetite for solutions that tackle DeFi’s most persistent pain points.
BUY YOUR $LIQUID FROM ITS OFFICIAL PRESALE PAGE
A New Infrastructure for a Maturing Market The timing for a protocol like LiquidChain couldn’t be better. With institutional-grade regulatory clarity on the horizon, the demand for equally professional infrastructure is paramount. Institutions don’t want to deal with fragmented systems; they need seamless, efficient, and verifiable platforms for capital allocation.
LiquidChain’s Cross-Chain VM (Virtual Machine) aims to provide precisely this, an environment where assets from disparate chains can interact without custodial risk. In previous cycles, we’ve seen regulatory green lights precede infrastructure buildouts; this pattern feels familiar, and the timing is punchy.
The risk, of course, is that building such a complex L3 is a monumental technical challenge, and adoption will take time. Still, the value proposition is clear. By creating a shared liquidity and execution layer, LiquidChain aims to become the foundational plumbing for the next generation of DeFi applications.
Its native token, $LIQUID, serves multiple functions within this ecosystem, including powering transactions (as gas), rewarding liquidity providers through staking, and funding developer grants to expand the network. For a market that’s finally growing up, infrastructure that abstracts away the complexity of a multi-chain world isn’t just a convenience, it’s a necessity.
LEARN MORE ABOUT LIQUIDCHAIN
This article is for informational purposes only and should not be considered financial advice. All investments carry risk, especially in the volatile crypto market.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
5 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
5 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
5 minutes ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
5 minutes ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
5 minutes ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
PANews reported on April 17th that blockchain security firm SlowMist announced that its subsidiary, MistEye , received community intelligence indicating that attackers were launching social engineering attacks via a fake " Harmony Voice " link ( harmony-voice..app ) . The attackers, under the guise of "project collaboration," instructed victims to install and use the fake software for real-time translation. SlowMist has synced the relevant Invocation Codes (IOCs) to its clients and reminded users not to click on any links related to the harmony-voice..app / invite /room/… , not to download the software, and not to respond to unsolicited test invitations to prevent asset and account security risks.
PANews reported on May 2nd that a US law firm representing the families of DPRK (North Korea) abduction/murder victims is applying to the court to seize funds related to the 2000 "Reverend Kim" abduction case, based on an old judgment issued in 2009. This application follows multiple Lazarus Group hacks and the freezing of related crypto assets. On-chain analyst ZachXBT pointed out that the firm has repeatedly used its public on-chain traceability results in cases such as Harmony and Bybit to claim priority in recovering frozen assets. However, these claims are not directly related to the specific hacks themselves, delaying or even hindering the recovery of assets from genuine hacker victims.
PANews reported on May 2nd that ZachXBT, a self-proclaimed "chain detective," is using his investigative work and on-chain evidence to help victims of hacking incidents file legal claims at certain US law firms on the X platform. However, this practice is reportedly hindering victims from receiving compensation/recovery funds. In several previous hacking incidents involving the Lazarus Group, such law firms typically intervene only after the on-chain funds have been traced or frozen, and then file subsequent legal actions that are weakly related to the crypto incident itself. They have also used similar tactics to engage in "free-riding" claims in cases like Harmony and Bybit. ZachXBT has called on the crypto community to establish a DAO to combat such behavior.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
5 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
5 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
5 minutes ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
5 minutes ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
5 minutes ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
5 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
5 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
5 minutes ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
5 minutes ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
5 minutes ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
5 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
5 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
5 minutes ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
5 minutes ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
5 minutes ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
5 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
5 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
5 minutes ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
5 minutes ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
5 minutes ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
5 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
5 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
5 minutes ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
5 minutes ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
5 minutes ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
5 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
5 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
5 minutes ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
5 minutes ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
5 minutes ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
Morgan Stanley released a report raising Micron Technology (MU.O)’s price target from $1,050 to $1,200, while maintaining an "Overweight" rating. The investment bank lifted its fiscal 2027 earnings per share (EPS) forecast for the chipmaker by roughly 40% to $168, and upgraded its free cash flow (FCF) projection from $104 billion to $140 billion. Aligning with Micron’s management, the bank holds that AI will push DRAM demand to consistently outpace supply significantly after 2027. Micron’s last fiscal quarter results matched this trend, with both its quarterly performance and outlook showing notable upside potential.
5 minutes ago
US officials: Israel has withdrawn troops from parts of the buffer zone in southern Lebanon.
A U.S. State Department official said Israel has withdrawn from parts of the buffer zone in southern Lebanon, describing the move as a "goodwill gesture" toward the Lebanese government.
5 minutes ago
CBRS trades below IPO price post-earnings: Erases all gains six weeks after listing, two smart money firms net $5.8 million from first-day IPO shorts.
According to Hyperinsight monitoring, Cerebras (CBRS), the AI chip firm previously dubbed "Nvidia’s strongest challenger", saw its stock price fall in stages after reporting its first quarterly results since going public, as negative guidance overshadowed better-than-expected performance. The stock has dropped roughly 22% since the earnings release and officially broke below its IPO price today. On-chain whales are overall bearish. CBRS trades at $184 on the Hyperliquid platform, down 7.7% in 24 hours. Large-scale short positions (million-dollar level) total around $11.62 million, 2.39 times the long positions ($4.87 million). Two major short positions were placed precisely at high levels as early as the IPO day or even before the IPO: - Whale 0xe0ff: Shorted at $284.51 on May 14 with a 3x leveraged position of $6.13 million, generating an unrealized profit of $3.24 million (+104%); - Whale 0x9996: Shorted at $275.92 on May 11 with a 5x leveraged position of $5.48 million, generating an unrealized profit of $2.64 million (+162%). It is learned that both addresses currently hold short positions in both CBRS and SPCX, and have recorded substantial unrealized profits, preferring to place short positions at high levels before or on the day of major stock listings. With the realization of negative earnings news in this round, the combined unrealized profit of the two positions is around $5.88 million. Currently, the average entry price of CBRS short whales is around $275, and the current price is over 30% lower than that. The nearest short liquidation line is at $200.13, about 7% away from the current price.
5 minutes ago
Multiple high-performing domestic public mutual fund products have tightened their purchase restrictions.
E Fund Management announced in its latest filing that the E Fund Information Industry Select Fund, managed by Zheng Xi, has cut its purchase limit to 10,000 yuan. The same purchase limit reduction to 10,000 yuan applies to another fund under his management, E Fund Information Industry Fund, while E Fund Global Growth Select Hybrid Fund (QDII) has lowered its purchase limit to 10 yuan. In addition, Guolianan Preferred Industry Fund, Harvest Tech Innovation Fund, and Principal Performance-Driven Fund have also announced purchase limits or adjustments to their limits recently. Jin Zicai, a fund manager closely watched by the market, imposed additional purchase limits on multiple public offering funds under his management, with the four funds involved cutting their purchase limits to 500 yuan starting June 23. Purchase limits on high-performing funds likely stem from multiple considerations: they can avoid return dilution caused by short-term concentrated subscriptions, and proactive limits during overheated market conditions also send risk warning signals to the market. As the first half of the year draws to a close, such moves have become increasingly frequent. Overall, Wind data shows that since June alone, 19 funds with year-to-date net asset value returns exceeding 90% have suspended large subscriptions or adjusted their purchase caps. (Source: Cailian Press)
5 minutes ago
The US stock market's optical communication sector rises across the board in pre-market trading, with Corning up 9.28%.
According to Bitget market data, the U.S. stock market's optical communication sector saw broad pre-market gains, with MRVL rising 4.99%, LITE up 3.24%, Nokia up 3.11%, Corning up 9.28%, and AXTI up 6.69%.
5 minutes ago
US-listed AI chip stocks saw mixed pre-market performance, with Qualcomm surging 13%.
According to Bitget market data, U.S. AI chip stocks posted mixed pre-market performance: Qualcomm (QCOM.O) surged 13%, Intel (INTC.O) rose nearly 6%, AMD (AMD.O) gained nearly 4%, and Google (GOOG.O) declined 1.4%.
Celer Network, a layer-2 scaling platform for building blockchain applications, has announced a partnership with NEO to expand the latter’s scalability and the usability of dApps on the blockchain.
NEO had been looking for a suitable layer-2 scaling solution in order to improve its dApp ecosystem when it came across the Celer Network. As per the announcement, the initial smart contract support is scheduled to be completed by Q4 of 2019.
The integration will occur in two phases. In phase one, NEO’s engineering team will start writing Celer’s generalised state channel smart contract in C# so that it can run on the NEO smart contract VM. The code provided by both teams will then merge into Celer’s Channel smart contract repository by late-2019. The next phase will involve connecting Celer’s layer-2 components to the state channel smart contracts on NEO.
Celer, which uses its native CELR tokens to transfer value across the network, claims to be fifteen times faster than Bitcoin’s layer-2 Lightning Network. Previously in March, Celer managed to sell over $4 million in CELR tokens on Binance’s token launch platform, Binance Launchpad.
With this partnership, Celer hopes to bring various dApps in the NEO ecosystem to run on the Celer Network by early 2020 – including distributed exchanges, payment channels and games.
The NEO blockchain has a large user base and community around the globe, with a deeply rooted and long history in China. Just yesterday, NEO launched the NEO3 TestNet and released NEO3 Preview1, which includes improvements such as higher throughput, enhanced stability and security and other changes like moving away from UTXO to an account-based transaction mode and native contracts for NEO, GAS, and Network Policy that can be invoked by other contracts.
Qtum is a project that has been around for some time now. It is also one of the most interesting cryptocurrency to come out of China in the past 3 years.
Originally built to be an "Etheruem Killer", Qtum has been through its own share of ups and downs. However, given the renewed push for blockchain adoption in China, many are turning to projects like this again.
So, does QTUM have the legs to manage the run?
In this QTUM review, I will attempt to answer that with an in-depth overview. I will also take a look at the long term use cases, adoption and price potential of the QTUM tokens.
What is QTUM?Qtum (pronounced ‘Quantum’) is an interesting blockchain project that’s been in existence since 2016 and was created as a fork of the Bitcoin core combined with Ethereum’s Virtual Machine (EVM).
The resulting blockchain provides us with the best of both Bitcoin and Ethereum, and does it by bridging the gap between the two technologies with a third layer that the Qtum developers have named the “Account Abstract Layer.”
Image via QTUM
Qtum was created with these three layers in order to serve business users best by combining the Unspent Transaction Output (UTXO) model of bitcoin with the decentralized application (dApp) capabilities of Ethereum. It then wraps them all up in a Proof-of-Stake (PoS) consensus to avoid the huge energy requirements of the Proof-of-Work (PoW) model.
The use of the Ethereum VM gives Qtum a proven and stable development and dApp environment but also brings along the known security and throughput capacity issues.
Qtum solved these Ethereum issues by combining the Bitcoin chain, which is famous for its security. Qtum then adds more services, including a native wallet, a smart contract management application, and oracles that allow off-chain data to be used.
Qtum TechnologyAs mentioned earlier, Qtum was developed with three separate layers; a fork of the Bitcoin core chain, Ethereum’s Virtual Machine, and the Account Abstraction Layer, which bridges the two technologies and is Qtum’s proprietary development.
Because Qtum uses the EVM it allows for the development of dApps and it can take advantage of Proof-of-Stake as its consensus mechanism, thus getting rid of the need for miners and the huge resource requirements of the Proof-of-Work consensus.
This also means all QTUM tokens are already in existence, having been created at the genesis of the blockchain. Qtum is also able to take advantage of smart contracts thanks to the inclusion of the EVM.
The QTUM Network Architecture
The inclusion of the Bitcoin core chain gives Qtum its solid security foundation through the use of the Unspent Transaction Output (UTXO) model that prevents fraud on the blockchain. It’s this UTXO model brought over from Bitcoin that guarantees transactions cannot be recorded twice. The UTXO model is the basis of Qtum’s security layer.
Because Qtum includes two different blockchains there needs to be a way for the two to communicate with each other. That’s where the Account Abstraction Layer comes in. It functions to convert Bitcoin’s unspent transaction outputs into an “account balance” model, which is what Ethereum uses. This lets the two chains communicate regarding transactions and account balances.
Because Qtum also uses the EVM third-parties are able to create new tokens easily, and it is even possible to automate the management of supply chains. Because Qtum uses a standardized ecosystem it is able to offer tools to create contracts that are both machine and human-readable, and it makes smart contracts both more flexible and less prone to errors.
Key ServicesQtum has also added several key services that make it an ideal blockchain for business use. Below are descriptions of these three key services:
OraclesQtum has created oracles that allow trusted external third-parties to supply data and make off-chain calculations, as well as assisting in computations and monitoring the smart contracts on the blockchain. These oracles generate an additional trust layer and make the security for smart contracts stronger.
Mobile ApplicationsQtum has also provided for the management of smart contracts from mobile devices. This is something that was once impossible and remains extremely difficult, but Qtum accomplishes it through its use of light clients.
The QTUM Mobile Client for Smart Contract Execution
Using this model Qtum is able to run nodes that do not keep a full blockchain history, allowing them to participate on the blockchain by storing only the most recent and relevant transactions.
This is paired with the use of Bitcoin’s Simple Payment Verification (SPV), which allows a wallet to confirm its transactions without needing to verify its full contents. This model greatly increases transaction speeds for devices with minimal computational resources, such as mobile devices.
The QTUM WalletQtum provides a native wallet for users, which isn’t unique by itself, but Qtum has added some unique functionality to its native wallet. The wallet was created to be fully mobile and able to directly interact with the smart contracts on the Qtum chain.
Qtum UnitaIn April 2019 Qtum improved further on its blockchain solution by adding a new feature to increase enterprise adoption. The new version of Qtum was dubbed Unita and it utilizes a scalable consensus algorithm (SCAR) that is built atop Qtum’s other existing solutions.
This new SCAR will save considerable network resources such as disk space and bandwidth while creating a fully-automated data storage and transfer protocol that can handle up to 10,000 transactions per second.
Advantages of SCAR Algorithm. Image via QTUM Blog
The new Unita can be deployed with just one click and also features data management and cross-chain trading, plus other features that will permit enterprise users to process millions of daily transactions. Qtum said businesses will be able to safely store private data on a permissioned Unita chain, and transfer data as necessary to the public network.
The Qtum TeamQtum was founded by Patrick Dai, who was an employee at Alibaba when he discovered blockchain technology and became an early adopter and enthusiast of the technology.
Joining him are three dozen other blockchain enthusiasts, including some world-class developers who have come to Qtum with decades of experience in a variety of different sectors.
The team includes a strong group of technology professionals with backgrounds ranging from cybersecurity and telecommunications to full-stack development and blockchain expertise.
The QTUM Team Members. Image via QTUM.org
Qtum also has a large and experienced group of angel investors and specialists in the capital markets, all of whom have placed their faith, and financial backing, with Qtum. These include Roger Ver, the CEO of Bitcoin.com, and Xu Star, the CEO at OKCoin.
Rounding out the backers is Anthony Di Iorio, the co-founder of Ethereum and CEO at Jaxx Wallet, and Jeffrey Wernick, a veteran of the financial markets with over forty years of trading experience.
Qtum PartnershipsOne of the reasons for Qtum’s success to date has been its aggressive moves to partner with major companies, both inside the blockchain space, and within traditional business sectors.
These partnerships have been developed over time, and one of the first major partnerships came in April 2018, when they partnered with the Energo Foundation, a clean energy producer in the Philippines. Energo is using the Qtum blockchain technology yo develop better settlement systems, registrations, and measurements for the local microgrids throughout the Philippines.
Just a few months later in June 2018, Qtum announced a partnership with Qihu360, China’s largest public software company and a specialist in the field of internet security. At the same time, Qtum partnered with another of China’s software leaders, Baofeng.
Some of the Partnerships of QTUM
That partnership is also meant to help Qtum gain 50,000 nodes as well as help developing tools for content distribution and copyright protection. While they’re nowhere near the 50,000 node goal, Qtum does have more nodes than any other blockchain with the exception of Bitcoin and Ethereum. Besides partnering with Qtum, Qihu360 is also helping with blockchain research and the development of decentralized applications.
The following month Qtum announced a partnership with the Celer Network, which was done to integrate the Celer Network’s scalability solutions, giving Qtum faster and more flexible services for the development community.
Qtum also launched on Amazon Web Services the same month, making it easier for businesses already using AWS to migrate to a blockchain solution and build dApps for their operations.
As a relatively mature blockchain project, one would expect to see a large and well-developed community around Qtum, and based on the social media stats you won’t be disappointed. The Twitter following of Qtum is huge, with 181,000 followers. The Facebook following is also pretty large for a blockchain project, with almost 12,000 followers.
The Range of Social Networks for the QTUM Community
As you probably know, Reddit is a popular social network for blockchain enthusiasts, and Qtum is popular over there too, with more than 15,000 followers of the Qtum subreddit. That said, there are some days with no posts, and the number of comments on most Reddit posts is modest.
The Telegram group is approaching 8,000 subscribers, and Qtum also has a presence on Weibo for Chinese speakers. Overall it is a fairly large following, which certainly helps with the spread of information about the project, particularly when they launch something new.
The QTUM TokenThe QTUM token is a utility token that is used to access services and make them available to businesses and developers on the Qtum blockchain. This not only includes executing smart contract transactions, but also includes building and provisioning dApps, and executing code. Like most cryptocurrencies, the QTUM token gains value from its use and the overall demand for the token.
Based on the white paper the distribution of QTUM is planned as follows:
80% of the total supply is planned to be distributed to the Qtum community, while the remaining 20% is being earmarked for distribution to the founder, development team, and early backers of the project. Qtum conducted a successful ICO from March 12 through March 17, 2017, raising $15 million by selling QTUM tokens at a price of $0.3000 each.
QTUM Price HistoryFollowing the ICO the price jumped over $5 and continued trading higher, remaining in a range of $5 to $20 until exploding in December 2017. By January 7, 2018 the price reached its all-time high of $106.88, but just several days later the price was already cut in half. It continued dropping until bottoming at $1.69 on December 10, 2018.
QTUM Price Performance. Image via CMC
The first half of 2019 saw price rebound, but the strength of the token faded in the second half of 2019, and on September 24, 2019 it hit an all-time low of $1.47. Since then the price has recovered somewhat and as of November 26, 2019 the price of one QTUM is $1.67.
Buying & Storing QTUMSince QTUM cannot be mined, those who are interested in obtaining or accumulating QTUM will need to begin by purchasing it from an exchange. QTUM is available from a number of exchanges, but cannot be purchased with fiat currency.
Most exchanges are selling it for USDT, BTC, or ETH, although the largest exchange volume is at Cat.Ex, where QTUM is paired with TRX. There is also a good amount of trading volume at IDCM, LBank, and to a lesser extent Binance and Exrates. QTUM is also listed on dozens of other exchanges, but there is very little trading volume at any of them.
Register at Binance and Buy QTUM Tokens
Many users choose to store their QTUM in the native QTUM wallet so that they can take advantage of the added features. Those who are more interested in security will be happy to know that both the Ledger and Trezor hardware wallets have support for QTUM.
There are also a number of third party web, mobile and desktop wallets offering QTUM support. These include the Jaxx Liberty wallet and the Atomic Wallet.
Development & RoadmapSo, how much work have the QTUM team been doing on their protocol? Well, perhaps one of the best ways to get a sense of this output is through their open source code repositories.
Hence, I decided to dive into the QTUM GitHub and take a look at their code commits which is the best barometer for raw output. Below are the commits to the top three most active repos over the past 12 months.
Commits to Select Repos over Past Year
As you can see, there has been quite a lot of development by the team. This is more development work than we have seen at a number of other projects at similar stages in their lifecycle. It is also worth noting that there are over 100 other repos although these have less commits than this.
In fact, if we were to compare the extent of coding activity at QTUM to those of other projects, it ranks quite favourably. For example, on CoinCodeCap, QTUM comes in at number 28 in terms of commits and number 34 for total activity.
Indeed all of this development progress makes sense when viewed in conjunction with the broader roadmap of the project. By the end of Q4 this year, they should have completed Mainnet integration of the x85 VM. They would also have published the first set of trusted library contracts on the mainnet. Finally, they are scheduled for an x86 hard fork as well as a support for new Byzantium op codes.
If you want to keep up to date with the development progress then the team is quite disciplined by posting on their official blog. They also keep their community updated through many of the mediums that I mentioned above.
ConclusionQtum is an interesting project that combines the best of the Bitcoin and Ethereum chains and focuses on a light-weight blockchain more suitable to mobile-usage. Bitcoin gives it security and value transfer capabilities, while Ethereum gives it smart contracts and decentralized applications. The combination makes Qtum very valuable for enterprise users, and the success of Qtum has been fueled by these features.
As the first Proof-of-Stake blockchain we know the Qtum team is innovative. The large and growing partnerships show the team’s ability to seek out and secure valuable relationships both within and without the blockchain ecosystem. And the combination of Bitcoin and Ethereum makes Qtum attractive to developers who are looking to move on from those popular platforms.
Taken all together Qtum has positioned itself well for success, living up to the promise of delivering the best of both Bitcoin and Ethereum, and expanding even further on the combination with its x86 virtual machine and the Utica scalable consensus algorithm.
It’s easy to imagine greater things for Qtum as blockchain moves further into the mainstream.
Months ago, Binance announced its Binance US and began to accept deposits from US citizens on September 18, starting with Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Litecoin (LTC) and USDT.
Binance US later grew this number to 19 and according to a recently published blog post written by Binance US CEO Catherine Coley, the company is now considering adding another 18 tokens to those already listed.
In the post, the exchange suggests that its decision to expand its list of supported tokens is borne out of the need to have “the most diverse selection of high-quality digital assets, without high fees.”
This expansion is bound to ensure that all of the exchange’s customers are not denied access to the bigger market with a lot more tokens and competition, ensuring that customers can trade assets with “true utility.”
The tokens currently been considered are Celer Network (CELR), Decreed (DCR), Enjin Coin (ENJ), Fantom (FTM), Icon (ICX), IOST (IOST), Komodo (KMD), OmiseGo (OMG), Harmony (ONE), Ontology (ONT), Ren (REN), Status (SNT), Theta (THETA), TomoChain (TOMO), Tron (TRX), NEM (XEM), Tezos (XTZ), and Hedera Hashgraph (HBAR).
The announcement also adds a reminder that all new users will get a $15 bonus when they sign up and will be able to trade free of charge for 30 days as it has been doing since the launch. Because Binance US is unavailable in some US states, the announcement also intimates that the platform is working on expanding access to the states that do not have Binance US access.
On the issuance of these tokens, Coley suggests that the company will take whatever measures it deems fit, to protect against fraud:
“Binance.US recognizes that the ease of issuing blockchain tokens and the perceived lack of regulation could make these tokens targets for abuse. Binanace.US has both legal obligations and moral duties to shield our users from fraudulent blockchain projects and combat financial crimes.”
Coley then concludes by asking the public to do “digital homework” before any decisions are made suggesting that customers are to not only learn about the prospective assets but also about methods being used by Binance.
Blockchain gaming ecosystem Oasys has announced a strategic partnership with the non-custodial asset bridge provider, Celer Network.
This collaboration is a major move in the push to enhance digital asset interoperability, and will inaugurate support for the Bridged USDC Standard on the Oasys blockchain. It will subsequently improve the utility and adoption of stablecoin assets in the gaming and blockchain sectors as well.
Oasys To Implement the Bridged USDC StandardDeveloped by the global fintech firm Circle Internet Financial (Circle), the Bridged USDC standard aims to enable a seamless upgrade path from bridged USDC to native USDC for eligible blockchain networks in the future.
Given the fact that USDC is the largest regulated US dollar-backed stablecoin, the crypto’s integration into new chains could accelerate the adoption of dollar-denominated payments.
Through its partnership with Celer, developers and users within the Oasys ecosystem will gain access to a new deployment of bridged USDC which also adheres to Circle’s standard.
Effective immediately, this new bridged USDC will be recognized as Bridged USDC (Celer). It will trade under the ticker symbol USDC.e, and be backed 1:1 by USDC locked in Ethereum-based smart contracts.
Developers and users will have a full year to swap their legacy bridged USDC (USDC.e-legacy) to the new USDC.e token. Alternatively, they will also be able to un-bridge it back to Ethereum during this window. For more information, developers and users can refer to the Oasys blog. They can also find detailed instructions on the swapping and bridging process.
About Oasis and CelerOasys is a blockchain video gaming platform dedicated to empowering gamers and developers. On a mission to become the global standard for blockchain gaming, Oasys aims to deliver real value for gamers within the blockchain universe. Combining the best of public and private blockchain technologies, Oasys offers a seamless, speedy, and zero-gas-fee blockchain gaming experience.
Celer, on the other hand, is a blockchain interoperability protocol that enables a one-click user experience for accessing tokens, DeFi, GameFi, NFTs, governance, privacy solutions, and more across multiple chains.
By building inter-chain-native dApps using the Celer Inter-chain Message SDK, developers can benefit from efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps also enjoy the advantages of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction user experience, all from a single chain.
The websites of crypto lending platform Compound Finance and Celer Network have been attacked, redirecting users to a malicious phishing site, according to multiple security researchers.
Compound, one of the longest-established decentralized finance (DeFi) applications, holds assets worth over $2B, according to data from DeFiLlama. Celer’s cBridge allows users to send tokens between 14 blockchains, processing over $200M in volume last month.
Security advisor to the Compound DAO, Michael Lewellen, posted a community alert via X (formerly Twitter), urging users to avoid the platform’s website. Compound Finance confirmed the attack 90 minutes later. The breach was highlighted earlier by ZachXBT via Telegram.
ALERT: The https://t.co/vSAGYl6wwJ URL has been compromised and is currently hosting a phishing site. DO NOT interact with the https://t.co/vSAGYl6wwJ website until further notice.
The Compound protocol itself is not impacted and all smart contract funds are safe.
— Michael Lewellen (@LewellenMichael) July 11, 2024 Read more: Compound Finance upgrade bug freezes $830M in crypto
Celer Network alerted users four hours later to a similar attack that “seems to be hitting multiple projects at the same time.” Pseudonymous security researcher Samczsun suspects the breaches to have come from Squarespace. DeFiLlama’s 0xngmi compiled a list of other domains that may be at risk.
This type of attack, known as a ‘front-end’ attack, is a relatively common vector for crypto hackers. The method doesn’t rely on finding a bug to exploit within the underlying smart contract code, instead simply replacing the project’s website with a malicious version.
A potential attacker must compromise the domain name service (DNS) registrar, generally using financial incentives or social engineering techniques on an employee. In response to the front-end attack that hit Curve Finance in June 2022, the CEO of Namecheap (the DNS registrar responsible) stated that a customer service agent was compromised, claiming they were either hacked or exploited with bitcoin.
Dear @iwantmyname, looks like something is compromised on your side (most likely, name servers – they seem to override what the UI tells them to serve). Please do something.
For everyone else: we switched nameserver, but don't rush to use https://t.co/vOeMYOTq0l – wait a bit
— Curve Finance (@CurveFinance) August 9, 2022 Read more: At least $25M lost across three incidents in busy day for crypto hackers
Similar incidents have affected many major DeFi platforms, such as Curve Finance, Cream Finance, Pancake Swap, Balancer, Frax and Velodrome, among others.
Previous hacks often involve cloning the original website, but swapping out key elements which can lead to users’ wallets crafting malicious transactions. This could be to transfer funds directly to an address controlled by the hacker, or to ‘harvest’ token approvals.
This approvals harvesting technique was used to devastating effect in the $120M BadgerDAO hack of December 2021.
Over the course of 12 days, BadgerDAO users inadvertently signed malicious approval transactions which granted the exploiter permission to spend tokens directly from the victims’ wallets. Now-bankrupt Celsius was among the victims, losing 897 BTC (worth over $40M at the time), before forfeiting $22M worth of compensation due to an ‘unforced error’.
Despite today’s incident, Compound’s back-end code is considered amongst the most secure in DeFi, with any changes requiring scrutiny via a fully on-chain governance process.
Low-effort ‘forks’, however, regularly find themselves exploited due to dodgy collateral or basic errors when setting up new markets.
Compound itself hasn’t been entirely without its issues in the past, though.
🚨 Alert: @compoundfinance's Twitter account has been compromised. Do not click on any links posted from their account.
A phishing link (compound-labs[.]xyz) was spotted 16 hours ago.
Stay vigilant and ensure the safety of your assets by avoiding suspicious links. pic.twitter.com/yoa1RM4P4E
— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) December 29, 2023 Read More: Linea protocol ZeroLend is a ‘copy-paste’ Aave fork, linking to original’s docs
The project’s X account was compromised in December 2023 to spread a phishing link, promising free COMP, the project’s native token.
In September and October of 2021, a total of almost $150M worth of COMP was accidentally distributed as excess rewards to users. Another incident the following year saw the platform’s $830M ETH market frozen for a week.
Got a tip? Send us an email or ProtonMail. For more informed news, follow us on X, Instagram, Bluesky, and Google News, or subscribe to our YouTube channel.
A major DNS attack targeting the Squarespace domain registrar has shocked the cryptocurrency community, prompting warnings and preventive measures. The attack has already compromised the domains of Celer Network and Compound Finance, raising concerns about the security of numerous other crypto-related websites.
Coingecko co-founder Bobby Ong has advised users to refrain from interacting with crypto platforms for the next few days until the situation is resolved. "The best thing to do is to not interact with crypto and rest for the next couple of days until everything is resolved," Ong stated.
The vulnerability stems from Squarespace's acquisition of Google Domains registrations in June 2023. The forced migration of domains to Squarespace reportedly removed two-factor authentication (2FA) for many users, leaving these domains susceptible to hijacking.
0xngmi has compiled a list of notable domains that share the same registrar and could be at risk. These include:
http://pendle.finance http://karak.network http://hyperliquid.xyz http://dydx.exchange http://thorchain.com http://axelar.network http://vertexprotocol.com http://hop.exchange http://polymarket.com http://yieldyak.com While none of the domains on this list have been confirmed as hacked yet, the shared registrar with Celer Network and Compound Finance has raised alarms.
The situation underscores the importance of robust security measures in the crypto space, particularly concerning domain management and DNS protection. As the attack continues to unfold, users are urged to exercise caution and remain vigilant.
Disclaimer: This article is based on the information available as of July 11, 2024. The situation is ongoing, and updates will continue to emerge as the investigation progresses.
Two prominent crypto projects have been exploited and many more could be at risk after two-factor authentication (2FA) was disabled, at the front-end, for projects using Google Domains amid a migration to Squarespace.
Posted July 11, 2024 at 2:27 pm EST.
The recent hacks of Compound Finance and Celer Network’s front-end domains on Wednesday revealed at least an additional 124 domains are at risk of exploitation by virtue of their registration with website-building company Squarespace, according to security experts.
Compound Finance, one of the largest decentralized protocols with a total locked value of nearly $2.2 billion, is hosting a phishing site, said Michael Lewellen, head of solutions architecture at blockchain security firm OpenZepplin, on X. He warned users not to interact with the website until further notice.
Another attacker, perhaps the same one or group, also attempted to take over the front-end domains of Celer Network. The team said on X that the takeover was intercepted and that their “investigation indicates that the attack vector likely involved third parties beyond our control.”
In a conversation with Unchained, the founder of blockchain network Glue and prominent white-hat hacker who goes by Ogle indicated that Compound Finance and Celer Network’s use of Squarespace to host their front-end websites is what allowed these exploits to occur.
“Right now, [Compound Finance is] exploited to the point that links are changed and so people can be phished,” he added. Phishing is a type of scam where exploiters use deception to make people reveal sensitive information or install malicious software.
Please avoid interacting with the compound[.]finance website until further notice.
It is part of the widespread domain compromise occurring right now. By visiting the site, or clicking any associated links, you will be putting yourself at risk. We and others are diligently…
— Compound Labs (@compoundfinance) July 11, 2024
The at-risk websites initially used Google Domains, but Squarespace acquired the Google Domains business, completing its acquisition of assets in September 2023.
The recent exploits were “almost certainly” from the migration of Google Domains to Squarespace, said Ogle. “What I’ve learned is that during that migration 2FA [short for two-factor authentication] was disabled.”
Compound Finance and Celer Network “probably did have 2FA enabled on Google, but then once it got switched over, not the case anymore,” he added.
“Google sold their domain business to Squarespace a few months ago and the forced migration of domains to Squarespace removed 2FA causing all these domains to be vulnerable and several have been hijacked,” said Bobby Ong, the co-founder of CoinGecko, on X.
Read More: $1 Million Bounty On Offer for Finding Bugs On Solana Validator Client Firedancer
Domains of Top Protocols At-Risk The number of crypto protocols joining the likes of Compound Finance and Celer Network may grow, as the pseudonymous founder of DefiLlama, who goes by the screen name @0xngmi on X, noted that 124 additional front-end domains of prominent crypto protocols are using Squarespace including Pendle Finance, Hyperliquid, dYdX, Nostra Finance, Axelar Network, Polymarket, Thorchain, Aptos Labs, NEAR, and Safe.
A spokesperson for Safe, a wallet infrastructure provider, confirmed with Unchained that Squarespace is involved with its front-end website, but emphasized they haven’t identified any abnormal activity and have systems in place to detect irregular changes.
“We currently remain unaffected,” Safe’s spokesperson said. “Our teams will continue to monitor the situation and keep our community and users informed.”
“As always, stay vigilant,” the spokesperson at Safe added. In a similar vein, the dYdX trading team said to Unchained over Telegram, “dYdX.exchange is secure with no detected vulnerabilities” and that they will also continue to “monitor the situation.” Axelar Network also has not identified any issues with its domain and will continue to track for any further developments, per a post on X.
Read More: 50% of Illicit Funds End Up At Centralized Crypto Exchanges, Chainalysis
The domains of these protocols — barring Compound Finance and Celer Network — remain unaffected. Yet Ogle says protocol team members should be worried as the situation is “not good” and that people should not go to any of these websites “under any circumstances until the official Twitter says it’s safe.”
At presstime, Compound(dot)Finance gets redirected to Compound-Finance(dot)app, in which the latter is flagged by Google as a dangerous site. “Attackers on the site you’re trying to visit might trick you into installing software or revealing things like your password, phone, or credit card number,” according to Google’s warning.
The message Google raises when people try to visit compound(dot)finance, which gets redirected to compound-finance(dot)app. If a user proceeds despite the flagrant, red warning, they’ll see a website that looks like a standard crypto protocol.
The interface of the phishing site is hosted by Compound Finance’s front end. Difference Between a Domain and Protocol While the domain websites of crypto projects may go down in the event of a hijacking, the actual protocols remain unaffected. People or bots can still interact with a project’s smart contract without going through a front-end website, Ogle said.
“You could transfer funds on the blockchain, you could go through their bridge, all that kind of stuff can happen without ever even using the website.” Even if a protocol’s front-end domain is attacked and “taken down by these hackers right now or whatever, you still don’t lose your money. You still have access to it.”
Representatives of Squarespace did not immediately respond to Unchained’s requests for comments.
UPDATE (July 12, 2024 10:03 a.m. ET) Includes status update of Axelar Network
TLDR Multiple DeFi protocols, including Compound Finance and Celer Network, were targeted in a DNS hijacking attack. The attack appears to be targeting domains registered through Squarespace. Over 220 DeFi protocol front ends may still be at risk. The attackers are believed to be using the Inferno Drainer wallet kit to steal funds. Some security measures, like requiring wallet signatures for DNS updates, have been suggested to prevent future attacks. On July 11, 2024, several decentralized finance (DeFi) protocols were hit by a DNS hijacking attack. The incident affected major players in the crypto space, including Compound Finance and Celer Network.
Security experts believe the attack is targeting domains registered through Squarespace, a popular website builder and hosting platform.
The attack was first noticed when users reported that the Compound Finance website (compound.finance) was redirecting to a malicious page.
This fake page contained a “drainer” app designed to steal users’ cryptocurrency tokens. Shortly after, Celer Network announced that it had also been targeted, but its domain monitoring system caught the attack before it could succeed.
Blockchain security firm Blockaid has been closely monitoring the situation. According to Ido Ben-Natan, co-founder and CEO of Blockaid, the attackers targeted DNS records hosted on Squarespace. These records were redirected to IP addresses known for malicious activities.
⚠️ Developing situation – Multiple DeFi front ends are at risk of hijacking, with a few incidents already taking place, with projects like @compoundfinance and @CelerNetwork getting hacked over the past 24 hours.
We will update this thread with details as we go. pic.twitter.com/iWQR0ByIgB
— Blockaid (@blockaid_) July 11, 2024
Ben-Natan stated that while the full extent of the hijack is not yet known, approximately 228 DeFi protocol front ends could still be at risk.
The attack is believed to be the work of a group known as Inferno Drainer. This group has been active for some time, targeting various DeFi protocols and exploiting different vulnerabilities.
Their wallet kit allows cybercriminals to trick users into signing malicious transactions, giving the attackers control over their digital assets.
Security researchers have identified shared infrastructure used by the Inferno Drainer group, making it easier to track and identify related attacks.
Blockaid has been working closely with the crypto community to maintain an open channel for reporting compromised sites.
The incident has sparked discussions about improving security measures for DeFi protocols. Matthew Gould, founder of Web3 domain provider Unstoppable Domains, suggested creating verified on-chain records for domains. This would add an extra layer of protection for browsers and other systems to check, helping to reduce the risk of DNS attacks.
Gould also proposed a new feature where DNS updates would require a signature from the user’s wallet. This would make it much harder for hackers, as they would need to compromise both the registrar and the user’s wallet separately.
In response to the attack, several crypto projects and platforms have taken action. MetaMask, a popular Web3 wallet, announced that it is working to warn users of potentially compromised apps associated with the attack.
Users attempting to transact on any known site involved in the current attack will see a warning provided by Blockaid.
For those of you using MetaMask, you’ll see a warning provided by @blockaid_ if you attempt to transact on any known site that’s involved in this current attack. #mmsecurity https://t.co/Fk0sAjaeit
— MetaMask ???????? (@MetaMask) July 11, 2024
The crypto community has rallied to spread awareness and minimize potential damage. DefiLlama developer 0xngmi shared a list of over 100 DeFi protocols that may be affected by the attack, including well-known names like Pendle Finance, dYdX, Polymarket, and LooksRare.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
Celer is thrilled to announce an exciting new partnership with CoinMarketCap (CMC), one of the world’s most trusted cryptocurrency data platforms. This strategic collaboration marks a significant milestone in enabling seamless cross-chain liquidity for CoinMarketCap’s groundbreaking CMC20 Index DTF token – a digital index fund that provides diversified exposure to the 20 top-performing cryptocurrencies through a single token transaction.
At the core of this partnership, Celer is providing essential bridging infrastructure that unlocks critical liquidity pathways for multiple cornerstone assets within the CMC20 portfolio. Celer’s decentralized cross-chain bridging solution now supports the seamless transfer of three key tokens integral to the CMC20 composition: HYPE, TONCOIN, and MNT. These bridging capabilities represent far more than technical implementations – they are the foundational infrastructure that directly enables the accessibility, liquidity, and success of CMC20 token operations across multiple blockchain ecosystems.
This collaboration represents the convergence of infrastructure innovation and investment accessibility, demonstrating how established players in the crypto space can work together to reduce barriers and create new opportunities for both retail and institutional participants in the digital asset market.
Expanding Token Access for CMC20 Through BNB Chain Integration As a fundamental component of this partnership between Celer and CoinMarketCap, Celer is supporting the bridging of the following token:
Token SupportedChains SupportedHYPEFrom HyperEVM to BNBTONCOINFrom TAC to BNBMNTFrom Ethereum to BNB In brief, Hyperliquid has gained tremendous traction in the crypto community with its unique zero-gas fee model and high-performance Layer 1 infrastructure primarily targeting DEXs for perpetual futures and spot trading. MNT serves as the native token and governance asset for Mantle Network, which emerged as a prominent modular Ethereum Layer 2 solution with its efficient scaling infrastructure, featuring significantly reduced transaction costs while maintaining institutional-grade security through its modular architecture. On the other hand, TON has established itself as a high-performance, scalable blockchain with capability of processing millions of transactions per second, featuring exceptionally low transaction fees and seamless integration with Telegram’s ecosystem. TONCOIN, as the native utility token, powers the network operations, validator staking, and an array of decentralized services.
Through our cBridge platform, these tokens could be transferred to BNB Chain, providing accessibility and liquidity for the rapidly growing DTF asset. The integration leverages Celer’s proven cross-chain technology, which already supports over 200 tokens across more than 50 blockchains with minimal fees and lightning-fast settlement times. cBridge’s State Guardian Network (SGN) ensures top-notch security standard compliance while maintaining the efficiency that supports frequent and large-volume transactions for regular users.
CoinMarketCap’s Revolutionary CMC20 Index DTF Token This partnership comes at an opportune time as CoinMarketCap prepares to launch the CMC20 token, which is a groundbreaking financial product that mimics the index fund model in TradFi. The CMC20 represents a diversified basket of the top 20 performing cryptocurrencies in the market, offering investors exposure to a curated portfolio of high-potential digital assets through a single token purchase. CMC20 represents a significant advancement as it cuts down the unnecessary transaction cost, performs as a benchmarking indicator for retail users and lowers the hurdle for amateurs to start building their cryptocurrency investment portfolio.
What makes this particularly exciting is that HYPE, MNT and TONCOIN are among the carefully selected assets included in this innovative index fund token portfolio. The support from Celer for cross-chain bridging not only expands the accessibility of the aforesaid tokens to enhance the penetration rate of the fast-growing ecosystems, but also makes the CMC20 token practical. Celer’s State Guardian Network (SGN) offers excellent reliability and high-level security to process cross-chain messages without delay, ensuring each supported bridging transaction to be fast and secured.
The launch of CMC20 token also represents an important milestone in cryptocurrency investing, providing retail and institutional investors with a simplified way to gain diversified exposure to the crypto market’s most promising assets. Just as the S&P 500 allows traditional investors to invest in America’s top companies through a single fund, the CMC20 enables crypto investors to take advantage of the growth of multiple high-performing tokens without the complexity of managing a multitude of individual positions.
About Celer Celer is a blockchain interoperability protocol enabling a one-click user experience accessing tokens, DeFi, GameFi, NFTs, governance, privacy solutions and more across multiple chains. Developers can build inter-chain-native dApps using the Celer Inter-chain Message SDK to gain access to efficient liquidity utilization, coherent application logic, and shared states. Users of Celer-enabled dApps will enjoy the benefits of a diverse multi-blockchain ecosystem with the simplicity of a single-transaction UX, all from a single chain.
Are you interested in working with or integrating Celer’s tech? Let us know! We are always interested in exploring new projects and opportunities!
About CoinMarketCap Founded in 2013, CoinMarketCap is ‘Home Of Crypto’, the world’s most trusted source of crypto data, insights and community. CMC’s mission is to accelerate the crypto revolution by organizing the world’s crypto intelligence and making it easily accessible to all.
CMC is commonly cited by major news outlets including Forbes, Bloomberg and CNBC. Even the U.S. government uses CoinMarketCap’s data for research and reports.
Ankr, a well-known Web3 infrastructure entity, has collaborated with Kava Chain, a popular decentralized blockchain. In this collaboration, Ankr is going to serve as Kava Chain’s core RPC provider. As per Ankr’s official social media announcement, the partnership is poised to bolster the growing institutional ecosystem of Kava Chain with more scalable, reliable, and faster blockchain connectivity. Hence, the development could play a pivotal role in accelerating the technical evolution of Kava.
Ankr's proud to continue powering the @KAVA_CHAIN ecosystem as their primary RPC provider.
It's a big deal – Kava has become one of the most reliable destinations for institutions and high-value asset flows, with global-grade custody, secure cross-chain architecture, and a… pic.twitter.com/RszIUx7BXR
— Ankr (@ankr) December 1, 2025 Ankr Backs Kava Chain with Next-Gen RPC Infrastructure to Power Institutional Growth The partnership takes into account Ankr’s services as the main RPC provider for Kava Chain. This move attempts to improve network performance, institutional trust, and back the key objective of Kava Chain to become a secure platform for worldwide digital asset flows. Additionally, this development also fosters Kava Chain’s focus on capital efficiency, interoperability, and safety to scale digital assets and maintain the broader momentum of institutional adoption.
In addition to this, Ankr’s evolving package of tools for developers backs Kava’s accessibility, permitting emerging Web3 enterprises and teams to enter the ecosystem with minimum friction. At the same time, the partnership combines the secure foundation of Kava Chain with the efficient RPC delivery of Ankr. This forms an environment that significantly contributes to the sustained network growth. Along with that, Ankr endeavors to back the Kava’s efforts to improve high-value flows and deeper liquidity.
Collaboration Boosts Network Reliability, Scalability, and Security According to Ankr, the collaboration with Kava Chain includes the provision of resilient and fast RPC infrastructure for smooth ecosystem scaling. The respective move also supports the long-term goals of Kava Chain to deliver secure asset expansion apart from sustaining considerable reliability and throughput. Overall, the duo is moving forward to advance ecosystem efficiency, heighten performance, and ecosystem efficiency, driving high-value Web3 platforms across the globe.
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.
Cwallet announced a new integration with Kava and immediately added one of the fastest and most interoperable blockchains to its expanding Web3 finance ecosystem.
With this partnership, users will now be able to send, receive, trade, swap, and buy or sell KAVA tokens all within Cwallet, without needing to leave the Cwallet platform.
The move helps put Cwallet in a better position as the unified gateway for everyday crypto users and helps Kava to utilize a greater distribution channel across the global market.
Kava Joins the Cwallet Ecosystem Kava is renowned for picking up the agility of the Cosmos network and Ethereum to allow interaction between both ecosystems on a single chain. It supports over 125 decentralized applications and has processed billions of dollars in transactions across the DeFi, payment, and new AI-powered applications.
By bringing Kava into Cwallet, the platform now provides direct access to users of one of the most versatile infrastructures in the Web3 space.
The integration also simplifies it for new users to use Kava without having to deal with complicated bridges and unfamiliar wallets.
Cwallet confirmed that all of the fundamentals are available instantaneously to the users and provides them with a free way to manage their holdings of KAVA. These functions can be wallet transfers, on-chain interaction, and instant swaps.
How the Integration is Benefiting the Everyday Users Cwallet’s design focuses on simplicity, as it allows users to manage multiple assets from a single interface. By adding Kava, this convenience can be extended to a wider variety of cross-chain activities: people will be able to use familiar steps to interact with Cosmos based assets in the same way that they can interact with other tokens.
Through the integration, KAVA holders are provided with a simplified method of trading or transferring tokens between different environments.
Users can switch between chains, convert assets, and explore new dApps with fewer steps and lower technical barriers.
This sort of unified access is important, particularly for individuals who want to have some exposure to different ecosystems but don’t want to deal with different wallets.
Cwallet’s automation tools, bots, and built-in security layers help users traverse the crypto-space with more confidence.
What Does This Partnership Offer For Cwallet, the integration emboldens its existence as a multi-chain hub by providing users access to the high-performance Layer 1 facilitating connection between two major blockchain ecosystems.
Kava is beneficial to the extent that it puts its token and applications in front of a wider audience internationally.
Cwallet’s wide range of users can now interact with Kava’s infrastructure, and it can help drive activity across dApps and potentially boost liquidity. Users also benefit from the combination of strengths of both platforms.
They are provided a gentler entry point in the ecosystem of Kava, as well as the opportunity to explore decentralized AI tools and DeFi services without the requirement of several different applications.
A Step Toward Deeper Cross-Chain Integrations Cwallet intends to build a more in-depth technical relationship with the Kava ecosystem, thereby developing more ways for people to interact with dApps, AI-powered tools, and cross-chain services.
As adoption of Web3 continues to grow at a rapid pace, partnerships such as these provide a link between the high-speed blockchain networks and the easy-to-use financial platforms.
AUTHOR
With over five years of experience in crypto, blockchain, and tech content, Ishtiyaq makes complex topics easy to understand. He simplifies blockchain and digital currency concepts for a wide audience, ensuring that beginners and experts alike can grasp key ideas. His clear and engaging writing helps readers stay informed about the latest trends, developments, and innovations in the crypto space. Whether explaining blockchain technology, digital assets, or DeFi, Ishtiyaq breaks down complicated ideas into simple, digestible content. His goal is to help people navigate the fast-changing world of cryptocurrency with confidence, clarity, and a deeper understanding.
This is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, Binance has completed the integration of Kava (KAVA) on the BNB Smart Chain (BSC) network. Deposits and withdrawals are now open. Please find your assigned token deposit address here. The token's smart contract address on the aformentioned network can be found here. Please Note: There may be discrepancies between this original content in English and any translated versions. Please refer to the original English version for the most accurate information, in case any discrepancies arise. Thank you for your support! Binance Team 2025-12-11
PANews reported on December 11 that, according to an official announcement, Binance has completed the integration of Kava (KAVA) with the BNB Smart Chain (BSC) network and has opened deposit and withdrawal services.
Author: PA一线
This content is for market information only and is not investment advice.
Morgan Stanley raises Micron's price target to $1,200, maintains 'Overweight' rating.
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