Sam Kazemian, founder of Frax Finance, outlined the development and goals of FraxUSD, a decentralized stablecoin designed to integrate with both traditional finance and decentralized ecosystems.
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Episode DescriptionThe upgraded FraxUSD offers redeemability through custodians like BlackRock and SuperState while providing competitive yields through diversified strategies. Kazemian described Frax’s broader vision as building a digital economy anchored by its flagship stablecoin and Fraxstool, a high-performance Ethereum Layer 2.
Frax Finance has proposed a $5 million investment in World Liberty Financial (WLFI), a DeFi platform closely associated with Donald Trump’s administration. The move aims to position FRAX as a leader in the growing U.S.-based decentralized finance (DeFi) ecosystem. A potential follow-up investment of $10 million is also being considered, contingent on the success of the partnership.
Frax Finance Proposes $5M Investment In WLFI The interest in U.S.-origin crypto initiatives has been fueled by the election of Donald Trump as the 47th President of the United States. The current administration has shown a great interest in the development of blockchain and cryptocurrencies. World Liberty Financial, a DeFi project that is closely aligned with Trump’s agenda of a crypto economy centred around the United States, has become a major player in this regard.
Frax Finance, which focuses on the algorithmic stablecoin, plans to incorporate frxUSD into the WLFI system. The proposal focuses on how the business can leverage on the governance structure, distribution network and partnership of WLFI.
As per the proposal, WLFI aims to bring millions of Americans into DeFi and help US based crypto projects. The first $5 million investment would enable FRAX to purchase WLFI tokens and thus become shareholders in its governance framework. A second phase of up to $10 million may be available if there is evidence of achievement of the initial goals.
WLFI’s Expanding Influence in U.S.-Based DeFi Though Trump had been vocal on the campaign trail about supporting cryptocurrency and blockchain technologies, he has not yet officially mentioned Bitcoin or any other virtual currency since taking the oath of office. This has raised eyebrows especially given that his administration was known to have pledged support to U.S based digital currency projects. Nevertheless, the actions of WLFI seem to be aligned with the pro-crypto agenda and are expanding actively in the DeFi sector.
The platform has recently added the leading DeFi tokens to its portfolio, including Ethereum (ETH), Chainlink (LINK), AAVE (AAVE), and Wrapped Bitcoin (BTC). According to the data, the ETH assets of WLFI have reached more than $184 million and the company also has sizable investments in other products.
In its governance structure, the WLFI community has the ability to participate in decision making within the ecosystem. For instance, Ethena Labs recently used WLFI’s governance platform to propose the use of its stablecoin as collateral in Aave. Similar governance options are also being considered for the frxUSD that can further enhance the use of FRAX within the WLFI domain.
FRAX’s Strategic Position in the Partnership Frax Finance has a unique position in this proposed collaboration due to its U.S. roots and co-founder Stephen Moore’s connection to the Trump administration.
Moore, a former economic advisor to Donald Trump, lends credibility to FRAX’s alignment with a U.S.-centric DeFi agenda.
The proposal outlines that this partnership would elevate FRAX’s status within the DeFi community. Integrating frxUSD as collateral in WLFI’s ecosystem could potentially increase adoption among millions of WLFI’s users. Additionally, FRAX stands to benefit from WLFI’s governance model, which could provide strategic influence over future decisions.
Key NotesFrax Finance proposes a $5 million investment in Trump-aligned DeFi platform WLFI.The partnership aims to integrate frxUSD into WLFI’s ecosystem, boosting adoption.The proposal has sparked both support and criticism within the crypto community. Renowned DeFi protocol Frax Finance has proposed a $5 million investment in World Liberty Financial (WLFI), a decentralized finance platform tied to newly elected US president Donald Trump. The proposal, aimed at strengthening FRAX’s position in the US-based DeFi ecosystem, also includes a potential $10 million follow-up investment based on the success of the collaboration.
Notably, if approved, the investment would see Frax Finance acquire WLFI tokens, securing a stake in its governance framework. The partnership is expected to integrate Frax’s algorithmic stablecoin, frxUSD, into WLFI’s growing ecosystem, enhancing its adoption among millions of potential users. However, the proposal has drawn mixed reactions from the community.
WLFI’s Growth and Political Ties WLFI has emerged as a significant player in US-centric DeFi, closely aligning its vision with the current administration’s pro-crypto stance. Despite President Trump’s silence on Bitcoin since taking office, WLFI’s actions signal a commitment to advancing US-based crypto projects.
WLFI has built a robust portfolio, including leading DeFi tokens such as Ethereum ETH $1 652 24h volatility: 1.3% Market cap: $199.35 B Vol. 24h: $14.70 B , Chainlink LINK $7.51 24h volatility: 1.6% Market cap: $5.62 B Vol. 24h: $297.75 M , and AAVE AAVE $82.10 24h volatility: 14.5% Market cap: $1.25 B Vol. 24h: $481.31 M , with ETH assets surpassing $184 million. Its governance structure allows community-driven decision-making, positioning WLFI as a decentralized yet strategically guided platform. Frax Finance’s involvement could bring additional credibility and functionality to this framework, particularly by introducing frxUSD as collateral in WLFI’s ecosystem.
Interestingly, Frax’s co-founder Stephen Moore is a former economic advisor to President Trump. This connection also allows the project to focus on the deep roots of US-centric blockchain strategy.
Community Reactions While the proposal has garnered praise on social media platforms like X, with some calling it a “huge” step, it has also faced criticism from within Frax’s governance forum. Detractors argue that investing $5 million in a project valued at $5 billion without a proven track record is risky. Concerns have also been raised about political associations alienating users who oppose the Trump administration, potentially hindering adoption.
Some community members voiced fears about the financial implications for Frax Share (FXS) holders, as the investment could create significant sell pressure on the token. Additionally, the WFLI token has recorded a sharp 300% increase in its price during the pre-sale. This has sparked concerns about early investors dumping their holdings after the launch, further destabilizing the market.
Meanwhile, the FXS token price dropped 10% after the proposal announcement. It is currently trading around $2.74 with a market cap of $240 million.
The path forward hinges on navigating community concerns and analyzing the partnership’s tangible benefits.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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With a background in finance and a passion for innovation, Anisha has been covering the ever-evolving world of crypto for over four years. Her deep understanding of the crypto market have made her a trusted source for analysis and news. Whether it's dissecting the latest trends or decoding whitepapers, Anisha is dedicated to bringing clarity to the world of digital assets.
Donald Trump-tied WLFI has attracted decentralized stablecoin protocol Frax Finance's $10 million proposal.
Frax Finance has proposed a $5 million investment in WLFI – the native token of World Liberty Financial (WLFI), a decentralized finance (DeFi) platform tied to US President Donald Trump. The main objective behind this move is to position itself as a leading player in the “Made in USA” DeFi ecosystem.
The proposal, which was presented for community feedback, also includes an additional $5 million follow-on investment subject to the partnership’s success. This makes a potential total commitment of $10 million.
Fuels Frax Finance’s Bet on WLFI Frax Finance claims that World Liberty Financial (WLFI), which is built on Aave, is well-positioned to benefit from the Trump administration’s pro-crypto stance. WLFI is described as a key project aimed at introducing millions of Americans to DeFi, focusing on US-based initiatives and partnerships with companies like Chainlink and Ethena Labs. With $70 million invested in prominent DeFi assets such as Ethereum (ETH), Wrapped Bitcoin (WBTC), and Chainlink (LINK), WLFI has established a notable presence in the sector in a very short duration.
In addition to Frax Finance’s strategic alignment with WLFI to strengthen its status as a premier US-origin stablecoin, the decentralized stablecoin protocol is also co-founded by Stephen Moore, who happens to be a former economic advisor to President Trump.
By integrating FRAX’s frxUSD stablecoin as collateral within WLFI’s platform, Frax said that the focus is also on expanding its distribution, gaining access to millions of potential users, as well as influencing key governance decisions within the WLFI framework.
With WLFI’s valuation already surging from $1.5 billion to $5 billion, the investment offers potential for significant appreciation, particularly if WLFI succeeds in its mission to drive mass DeFi adoption under the Trump administration’s pro-crypto stance.
Justin Sun Deepens Ties with WLFI Trump unveiled World Liberty Financial in September last year to simplify access to financial services by removing intermediaries. Despite a rocky start, the project’s cumulative sales soared to $300 million by January 23, according to data compiled by Dune Analytics.
You may also like: Donald Trump Launches US Quantum Push With Two Executive Orders Is Bitcoin (And Peace) In Trouble as Trump Warns Iran of Fresh Strikes? Trump Says ‘You’re Welcome’ as Oil Is Flowing and Prices Are Dumping This week, Tron founder Justin Sun announced increasing TRON DAO’s stake with an additional $45 million investment, bringing the total to $75 million. Previously, Sun made a $30 million token purchase in November last year which made him the biggest stakeholder in the platform. WLFI later confirmed his appointment as an adviser the next day.
Bitcoin, Raydium, and Frax dominate crypto discussions as volatility, governance changes, and major BTC acquisitions drive market sentiment.
According to Santiment, Bitcoin (BTC), Raydium (RAY), and Frax (FRAX) are currently at the center of social media discussions.
Much of the growing discourse is focused on market volatility and governance changes within the crypto ecosystem.
The Top 3 Trending Tokens Santiment’s February 25 report reveals that BTC is getting attention due to a recent acquisition from Michael Saylor’s Strategy (formerly MicroStrategy).
The firm purchased 20,356 BTC for approximately $1.99 billion, increasing its total holdings to 499,096 BTC bought for around $33.1 billion. This investment, alongside a yield of 6.9% YTD 2025, has been widely discussed within the crypto market, particularly regarding its impact on the asset’s price fluctuations.
RAY is trending following a recent 29% decline in a day and a 50% slump since Friday that was caused by rumors of a competing platform launching its own automated market maker (AMM). This speculation has raised concerns over liquidity shifts within the Solana ecosystem, leading to increased investor attention toward the token.
Pump.fun is reportedly testing an AMM that, if implemented, could reduce the platform’s reliance on Raydium. The decentralized exchange currently facilitates trading for tokens launched on the Solana meme coin maker.
FRAX has also been a focal point in conversations, with debates surrounding tokenomics, governance, and inflation. Various proposals have been introduced regarding changes to the coin’s emissions, branding, and incentive mechanisms.
You may also like: Brutal Bitcoin Liquidation Cascade Imminent Below $59K, Warns Analyst Mining Profits Dry Up Across Bitcoin, DOGE, LTC, and BCH Saylor Should Stop Buying Bitcoin, Says CryptoQuant Ongoing discussions are centered on the token’s inflationary nature and relationship with FXTL and the potential impact these changes could have on its value and utility within the market.
Other Trending Cryptocurrencies on Santiment’s List The blockchain analytic firm also highlights Ethereum (ETH), Frax Shares (FXS), and Kendu Inu (KENDU) as trending digital assets. ETH has seen increased discussions following its association with GrokAI3.0, a new project focused on advancements in AI technology and its potential financial implications.
FXS, which is linked to FRAX, has also been widely mentioned, with many raising concerns about its potential dilution and implications for liquidity and value.
On its part, KENDU has gained attention as part of a growing community-driven approach to digital assets. According to Santiment, talks around it largely highlight the importance of strong group bonds and collective effort over speculative trading.
The token has been compared to cryptocurrencies like Shiba Inu (SHIB) and Dogecoin (DOGE), with enthusiasts emphasizing its long-term potential as the market evolves. Some believe it represents a shift toward community-focused investments rather than gambling and pump-and-dump schemes.
With EIP 1559 activated, Ether's economic model became similar to that of tech stocks, while Bitcoin (BTC) solidified its "store of value" status. That was a major mistake for Ethereum that damaged ETH, Frax and Everipedia founder says.
Ethereum's network utility fails to catalyze ETH priceEthereum (ETH), the largest smart contracts platform, remains "amazing" and is still on its way to becoming a major issuance layer in the world. At the same time, this inspiring tech journey has nothing to do with ETH price performance, Frax's Sam Kazemian shared on X.
This has been my thesis: Ethereum the network is amazing & going to be the major issuance ledger of the world. But very little, if any, of that value will be captured by the $ETH asset (due to ETH pivoting to a P/E DCF tech stock model). Empirical validation: https://t.co/91N2Sx8Qg6
— sam.frax (@samkazemian) April 10, 2025 As Ether (ETH) keeps disappointing its community, Kazemian sees the wrong narrative as a root cause of its underperformance. With periodical token burn events introduced by EIP 1559 activation on Aug. 5, 2021, ETH pivoted to the wrong utility model:
Biggest mistake was changing the social Overton window of EIP1559 burns as revenue/stock buybacks instead of 'ETH is digital gold/silver/oil like $BTC & some of the commodity gets used up every block as part of the design." Instead, it's now more tech stock instead of BTC-like.
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Also, he opined that, if an EIP 1559 analogue was implemented in Bitcoin (BTC), the "digital gold" narrative of BTC maxis would also be damaged.
As such, with its P/E DCF (price-to-earnings discounted cash flow) valuation model, the ETH cryptocurrency fails to benefit from the battle-tested utility of its underlying blockchain.
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As covered by U.Today previously, EIP 1559 with its fee burn events was the most radical upgrade of Ether tokenomics ever.
ETH/BTC routinely finds new low; is it over for Ether?Ethereum's (ETH) underperformance compared to major cryptocurrencies is in the spotlight for the global crypto community.
In his thread, Nic Puckrin, Coin Bureau founder and CEO, shared some reasons for this painful situation. He noticed that the average ETH owner bears paper losses right now.
Ethereum is having a rough year.
With ETHBTC hitting fresh 5-year lows, the data tells an uncomfortable story.
Will the bleed continue?
Here's what's really going on 👇
— Nic (@nicrypto) April 11, 2025 Ethereum (ETH) has lost its narrative battle to Bitcoin (BTC). Other L1s are eating its lunch when it comes to smart contracts deployment. Even Ether-based L2s siphon liquidity and damage ETH's value.
Institutional money — based on spot ETF performance in the U.S. — clearly chose Bitcoin (BTC) over Ethereum (ETH). Also, it is highly unlikely to benefit from monetary injections globally.
That's why more blood might be ahead for the ETH/BTC pair.
Today, on April 12 in early morning hours, ETH/BTC hit another bottom at 0.18666. It means that 1 Bitcoin (BTC) is now equal to 53.5 Ethers. This is the lowest rate for ETH/BTC since early 2020, data says.
In a positive development for the crypto community, the individual responsible for the GMX exploit accepted the platform’s bounty and returned over $40 million worth of assets stolen from the project.
Crypto Hacker Takes $42 Million From GMX On Friday, the recent GMX V1 exploit ended on a happy note after the individual responsible for the incident turned into a white-hat hacker. Perpetual and spot crypto exchange GMX lost over $40 million on Wednesday when an attacker exploited a vulnerability in the protocol’s first version on Arbitrum.
According to online reports, GMX V1’s vault contract had a vulnerability that allowed the attacker to manipulate the GLP token price through the system’s calculations.
Blockchain security firm SlowMist explained that “The root cause of this attack stems from GMX v1’s design flaw, where short position operations immediately update the global short average prices (globalShortAveragePrices), which directly impacts the calculation of Assets Under Management (AUM), thereby allowing manipulation of GLP token pricing.”
Through a reentrancy attack, they successfully established massive short positions to manipulate the global average prices, artificially inflating GLP prices within a single transaction and profiting through redemption operations.
As a result, approximately $42 million worth of assets, including Legacy Frax Dollar (FRAX), wrapped bitcoin (WBTC), wrapped ETH (WETH), and other tokens, were transferred from the GLP pool to an unknown wallet.
The perpetual crypto exchange halted GMX V1’s trading and GLP’s minting and redeeming on both Arbitrum and Avalanche to prevent another attack and protect users’ funds. However, they clarified that the exploit was limited to GMX’s V1 and its GLP pool. GMX V2, its markets, or liquidity pools, and the GMX token were not affected and remained safe.
White-Hat Claims $5 Million Bounty Following the incident, GMX sent a message on-chain and on X offering a $5 million white-hat bounty to the attacker, claiming that their abilities were “evident to anyone looking into the exploit transactions.”
GMX’s team noted that returning the funds within the next 48 hours and accepting the bounty would allow the hacker to “spend the funds freely,” instead of taking additional risks to access them. They also vowed not to pursue any legal action and to assist the exploiter in providing proof of source for the funds if it is ever required.
Today, the exploiter responded in an on-chain message, accepting the bounty and starting the return process. As Lookonchain reported, they initially returned $10.49 million worth of FRAX on Friday morning.
GMX exploiter accepts white-hat bounty. Source: Lookonchain on X Meanwhile, another $32 million worth of assets had been swapped into 11,700 ETH, which are now valued at $35 million after the King of Altcoins’ price jumped to the $2,990 mark.
In the following hours, the hacker returned 10,000 ETH, worth $30 million, keeping only 1,700 ETH, valued at $5.2 million, as the bounty.
GMX later confirmed that the funds have now been safely returned and thanked the white-hat hacker for their actions, ultimately giving a positive turn to the incident.
Lastly, they informed users that “contributors are working on a proposed distribution plan for presentation to the GMX DAO and will share more information shortly.”
GMX token trades at $13.24 in the one-week chart. Source: GMXUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
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If you walk into a crowded place and shout Binance, there is probably someone who’s going to open their Binance app to check what’s going on. Centralized exchanges like Binance, Coinbase, and HBTC dominate the crypto space. Their reach in the market is an indication that we are already in the crypto future.
Statista reported earlier in the year that collectively, Binance, HBTC, and Hydax Exchange process $54 billion worth of transactions every 24 hours, almost a third of the global exchange volume.
As crypto adoption continues to rise, a corresponding surge in the decentralized Finance (DeFi) sector has driven interests in DEXes to new heights. But there will always be problems that come with disruption. In the case of DEXes, the widespread problem has always been that decentralization comes at the cost of usability.
The Problem With DEXes And The Rise Of Uniswap Decentralized Exchanges have quickly emerged as solutions to the problems plaguing centralized exchanges. For example, several centralized exchanges have been reported to have technical issues when the crypto market booms. The overreliance on cloud providers like AWS makes it difficult to prepare for these downtimes. Also, abuse of power is a regular occurrence.
The QuadrigaCX scandal is a good reminder of this: $190 million in customer cash stored by the Canadian exchange disappeared with the CEO when he died in 2019, as it was all held on a single hardware wallet with no one knowing the password but the deceased.
Decentralized cryptocurrency exchanges are designed to address issues that centralized exchanges have. They are peer-to-peer (p2p) markets directly built on the blockchain, allowing traders to keep and manage their funds independently. Instead of the exchange or any other middleman directing the flow of money, such as a bank or an internet payment gateway, this procedure is controlled by a series of smart contracts that keep track of transactions on the blockchain on which it is built.
But DEXes also pose a series of problems Many exchange operations on DEXes, such as deposits (also known as locking funds), placing orders, and finalizing trades, require Ethereum transactions on DEXes, resulting in an annoying situation where almost every action you take on a DEX pops up a Metamask window asking for approval, often also requiring pausing while in-between transactions.
In addition, Liquidity is frequently inadequate due to these exchanges’ poor user interface. Because order books are thin and spreads are big, prices are often lower than on a centralized exchange. Most DEXes today charge a premium for their privacy, security, and decentralization features.
Hence, Uniswap Uniswap, unlike other DEXes, does not employ order books and instead relies on an algorithmic pricing method to provide liquidity and minimal spreads. This price method is operationally simple, making Uniswap’s smart contract operations very straightforward. This has the added benefit of increased security, as well as lower gas costs.
Uniswap is an Automated Market Maker (AMM) that establishes token prices using a simple algorithm: x * y = k. The amount of ETH in the pool is represented by x, the number of tokens is represented by y, and k is constant in this equation. When ETH is used to purchase a token, x increases, y decreases, and the token price rises. Users do not input a price they want to purchase or sell at, unlike traditional exchanges. Uniswap works in a similar way to spot markets, where traders can only buy and sell at the current price in real-time.
Built on the Ethereum blockchain, each ERC-20 token traded on Uniswap has a pool of Ether and a pool of the token. The ratio of the size of the ETH pool to the size of the token pool determines the price of the token at any given time.
However, despite the radical departure from the status quo by Uniswap, there are other DEXes that offer alternative features that Uniswap doesn’t offer.
Dexes bringing something new to the table. While Uniswap is popular in the crypto world, there are other DEXes that serve as viable alternatives or offer entirely different features. Here are some of them:
1. Balancer: like Uniswap, Balancer is an AMM that allows users to swap ERC20 tokens. However, as the name suggests Balancer is a portfolio management tool balancing assets in a liquidity pool based on a given ratio.
Balancer has been a critical component of a number of highly successful DeFi initiatives, owing to its dependability, usability, and adaptability. Uniswap’s liquidity pools are always 50:50, whereas Balancer lets liquidity suppliers specify any ratio they choose (such as 98:2).
As a result, many liquidity mining sites choose Balancer over Uniswap since it lowers the danger of temporary loss. Balancer still maintains one of the greatest trade volumes of any decentralized exchange, despite its recent decline in popularity.
2. Solrise: Built on Solana, Solrise is non-custodial and decentralized fund management and investment protocol that helps democratize the investment space. On this DEX, anyone can open a fund or invest.
3. MakiSwap: This DEX runs on the popular AMM protocol as a yield farming platform built on the Huobi Eco Chain. It is the first DEX that will offer a variety of trading experiences including limit orders; charts; analytics; order books, etc. The DEX is a product of the Unilayer Eco-system which allows token holders to also reap rewards.
4. Tezos Liquidity Baking: It is the first protocol layer DEX, giving it an immediate advantage over application layer DEXs such as Uniswap by allowing rewards to be distributed in protocol token rather than application token.
5. Alkemi Network: Unlike the aforementioned, Alkemi Network is a unique DEX in that it does something no other DEX platform does: it fuses CeFi institutions with the DeFi space. It Offers state-of-the-art cryptography and liquidity for financial institutions and individuals to access DeFibanf earn on their Ethereum-based digital assets.
Alkemi Network: Merging CeFi to DeFi There seems to be a rift between Centralized Finance and Decentralized Finance in the crypto space. Thought mostly based on the features both spaces offers, the dichotomies overlaps. But with Alkemi Network, the differences are bridged and fused.
Alkemi is a sophisticated liquidity network created with institutional and retail investors in mind to enable them to access and earn on their Ethereum-based digital assets. It’s the first liquidity platform to allow KYC permissioned and permissionless liquidity pools governed by one network utility token. The network allows participants to remain complaint by making them undergo KYC verifications before being allowed to interact within the pool.
The major offering of this DEX is Alkemi Earn, a permission liquidity pool where trusted counterparties can borrow and lend in wBTC, USDC, DAI, and ETH. Users can then lend and borrow and are also rewarded through the liquidity mining program.
Why Alkemi Network Is Different? There are numerous projects in the DeFi space. But what makes Alkemi stand out is their Alkemi Earn. With earn, users will not only be able to invest, they will be able to lend and borrow while also earning rewards through the liquidity mining program.
Earn pools can also be implemented into centralized exchanges to give consumers who aren’t DeFi power users an embedded experience.
Another thing to consider is that Alkemi Network has an accessible User interface which makes it more accessible for liquidity mining programs. The open-access for all kinds of investors makes it a true DeFi experience.
The KYC used by Alkemi is also industry standard. There’s a rigorous screening of liquidity providers that helps to fortify the borrowing and lending protocol and code.
Bringing it together As the DeFi space continues to expand, new projects will keep popping. The institution-grade liquidity network will help bridge CeFi and DeFi to allow seamless transactions including borrowing, lending, and investing.
Update: Following the publication of this article, Huobi has updated its transparency page to include new addresses that contain the collateral for all of the wrapped tokens mentioned. These show that all of the tokens are fully collateralized.
"To enhance HBTC holders’ confidence, we have been gradually migrating HBTC assets to Huobi Trust Company Limited for digital asset custody," said a spokesperson for Huobi via email.
Huobi’s version of wrapped bitcoin isn’t living up to the transparency that it promised. The $800 million of assets that are backing the crypto exchange’s token are supposed to be sitting in clearly market wallets; except they’re not.
Instead, the money appears to have been spread among other exchange wallets, also owned by Huobi. The problem here is not that the money is necessarily gone; it’s plausible that Huobi is using its exchange hot wallets to make it easier to process transactions. The issue is that market observers cannot see for themselves whether the token is still backed.
For all we know — from checking Huobi’s official transparency page — the $800 million of outstanding Huobi Bitcoin (HBTC) is backed by less than $30,000.
The Block reached out to Huobi for comment but — after an initial response — the exchange stopped replying to follow up emails. The exchange did not provide any explanation for why the bitcoin was moved, nor would answer whether HBTC was still fully backed.
'Transparent and verifiable’ Huobi created HBTC in February 2020 as its proprietary form of wrapped bitcoin. Wrapping bitcoin is a process where you take bitcoin on the Bitcoin blockchain, lock it up in a wallet and issue a tokenized version of it on another chain, in this case on Ethereum.
At the time, Huobi said HBTC would be “transparent and verifiable,” enabling anyone to authenticate the assets on both the Bitcoin and Ethereum blockchains.
For a while, it seemed that this was the case. In early August 2021, the supply of HBTC was around 31,000 and Huobi’s two official wallets contained around 39,700 bitcoin.
Yet between August 20 and August 26 of last year, practically all of this collateral was moved out of both wallets. The funds were split into three sums and all were sent to this wallet. Each was then repeatedly shifted to new wallets, with small amounts siphoned off at each turn.
Huobi also created wrapped assets for six other cryptocurrencies: bitcoin cash (BCH), polkadot (DOT), tezos (XTZ), bitcoin satoshi’s vision (BSV), filecoin (FIL) and litecoin (LTC). Out of these, only Huobi’s version of BSV (HBSV) is fully backed by collateral in the official wallets. The transparency page shows no data for its version of filecoin at time of writing.
All the assets have a combined total supply worth $865 million but yet just $5.5 million in collateral in the official transparency wallets.
How this compares to others HBTC is failing to offer the transparency provided by Wrapped Bitcoin (WBTC), the most common form of wrapped bitcoin.
WBTC is run by a conglomerate of crypto businesses, including Compound and BitGo. The project’s website provides a list of 268 bitcoin wallets that contain its $4.8 billion of bitcoin — and these wallets do indeed contain that amount of the cryptocurrency. This enables those using the wrapped token to know that it’s fully backed.
Still, not all wrapped bitcoin projects offer this level of transparency. RenBTC, another version of wrapped bitcoin with a market cap of $100 million, initially used the crypto data service Chainlink to show its proof of reserves. But it now just has a statement on its dashboard that says how much it has in reserve — a sum equal to the amount issued on its network — and doesn't provide any links to where the money is kept.
What's complicated about the way renBTC looks after its collateral is that every time some of the collateral is redeemed, it sends that person those funds and sends the remaining assets to a new wallet. As a result, it can’t simply provide a list of wallets where the funds are stored, since it would have to be constantly updating the list.
This may shed some light on Huobi’s processes, as it also constantly spreads the funds to new addresses while siphoning off a little each time. Perhaps the exchange adopted this system but failed to implement a way to track the collateral, since it requires either using Chainlink or setting up an automated system.
Either way, Huobi is — for now at least — failing to offer the transparency it originally promised.
Adventurers, the time has come to take your first steps into the Echo Realm! We are opening the gates for a limited access phase to test the core features of Mirandus: Eternal Night.
This isn’t the official release yet—this is a critical testing phase where you get to experience the thrill of the game firsthand and help us shape the final experience. But make no mistake: the dangers lurking within The Absence are very real, and we need your help to conquer them!
Here is what you can expect to test during this exclusive event:
🌑 Brave the Eternal Night Step into our persistent 3D hex-based world as an Echo, the base character available to all players. (Equipping Exemplars will be unlocked in a future update!) Test your survival skills by managing your Energy and HP as you navigate the heavy, corrupting darkness.
⚔️ Explore → Risk → Gather → Return Alive Experience our unforgiving core gameplay loop. Venture out to gather in-game resources, trigger Hazard events, and engage in turn-based auto-battles against mutated creatures. Remember the golden rule: if your HP hits 0, your gathered non-NFT inventory may be lost unless you retreat to the safety of a lighted Town to secure it!
🔥 Accumulate and Prepare: The Store & Boss Event are Coming! Do not waste this head start! Use this early experience to stockpile resources, craft supplies, and strengthen your inventory. You are going to need every item you can get your hands on because the Store and a massive new Boss Event are coming soon! When the Store officially opens, you will want a vault full of resources to gear up and acquire vital supplies. Stay tuned—these major updates will be arriving soon, and only the most prepared Echoes will survive the boss and walk away with the incredible rewards!
Additionally, Mirandus NFT support is coming soon, with a phased rollout beginning with a core set and expanding over time.
Last week, the GalaChain community was presented with an important decision: how to evolve the network’s economic model to support its next phase of growth.
The vote has now concluded.
The result is in. YES has passed.
This marks a major milestone for GalaChain. With strong support from node operators, the network will move forward with the transition to a disinflationary emission model, bringing fee-sharing, permanent burns, and a long-term economic structure designed for sustainability.
What This Means With the approval of the proposal, GalaChain enters a new phase built around stronger incentives, predictable emissions, and a model aligned with one of the most successful Layer 1 ecosystems in crypto.
The upgrade introduces:
A disinflationary emission schedule starting at 15% with a 15% annual decay A 1.5% permanent emission floor, ensuring ongoing rewards for node operators 50% of all gas fees distributed directly to node operators 50% of all gas fees permanently burned, reducing total supply over time This replaces the previous gap-based model and removes the reflexive minting behavior tied to token burns. From this point forward, every burned token is permanently removed from circulation.
A New Era for Node Operators For node operators, the impact is immediate and meaningful.
Day 1 rewards are expected to increase significantly,based on current assumptions, alongside the introduction of continuous fee-sharing. Network activity now directly contributes to operator rewards.
Combined with the permanent emission floor, this establishes a long-term incentive structure designed to support operator long term participation by node operators.
What Happens Next With the vote approved, the network will begin moving toward implementation of the new economic model. Updates will be shared as progress continues and key milestones are reached.
Mirandus: Eternal Night is a brand new, exclusive early experience set in the Mirandus universe. This is not a replacement for the main Mirandus game. Instead, it is an exciting new adventure designed to give extra utility to your existing Mirandus NFTs. It offers players a fresh opportunity to step into the world, accumulate wealth, and experience a unique survival challenge while expanding the overall Mirandus ecosystem.
The Lore: Survive The Absence
Reality in the Echo Realm is fragile. Following the Great Breach, the old order collapsed, and the original world’s distant sun was replaced by The Absence—a cold, cosmic void that seeks to unmake our world and swallow the land back into the darkness.
In this twisted parallel dimension, you play as an Echo—an unresolved adventurer fighting for the right to exist. Survival cannot be granted by a king; it relies entirely on your personal will. By securing powerful artifacts and placing Deeds, Echoes create localized safe zones that generate light and stop the spawn of mutated enemies. Together, these connected wellsprings of light form a defiant “Constellation of Light” to push back the void.
The Gameplay: Brave the Eternal Night
Step into a persistent 3D hex-based world where every movement is a calculated risk.
Explore → Risk → Loot → Return Alive: Experience our unforgiving core loop. Venture out from the safety of the light to harvest resources, trigger hazard events, and engage in turn-based auto-battles against roaming enemies. Manage Your Survival: Your survival depends on managing your Energy and HP. Traveling through different terrain types costs Energy, and entering combat with no Energy will severely reduce your damage and attack speed. Secure Your Loot: Make no mistake, the dangers are real. If your HP hits 0, your gathered non-NFT inventory is lost to the void. You must retreat to the safety of a lighted Town to secure your hard-earned rewards! Where to Play
Mirandus: Eternal Night is built for accessibility. It is a WebGL browser-based experience, meaning you can jump straight into the action on your PC without needing to download a heavy client. (Please note: This is a desktop browser experience and is not currently supported on mobile devices).
How to Connect & Your NFTs
To start your journey, you will currently need to connect using the MetaMask extension to log in.
We are actively developing full Gala Wallet login integration, which will be implemented very soon! Additionally, please note that we are not supporting all Mirandus NFTs right out of the gate. We are working hard to bring your collections into the game gradually as we expand the world in future updates.
What’s Next on the Horizon?
This early sneak peek is your chance to get a massive head start and hoard resources before the real threats arrive. Here is what is coming soon:
The Gauge of Stability (Boss Event): Our massive world boss and bounty system! When the Gauge fills, a colossal anomaly will be summoned from the void. The warrior who deals the most damage claims the vast majority of the bounty, and the one who strikes the final blow reaps a generous remnant. The Store: Soon you will be able to purchase vital supplies and equip legendary gear to gain massive passive buffs in the auto-battler arena. NFT Visualizer: We are building the capability to progressively support more Mirandus NFTs, expanding the roster of Exemplars and items you can bring into the Echo Realm. Gala Login Integration: Seamless ecosystem access is on the way to make connecting faster and easier than ever! Play Mirandus Eternal Night
Today, we continue our Games Spotlight series on Gala News. This time, we’re featuring City Under Siege, a third-party title developed by Axtrel Studios, where strategic decisions shape the fate of your city under constant threat.
City Under Siege The enemy is at the gates. You are the city’s last line of defense. City Under Siege is an intense tower defense game where wave after wave of hostile forces pour through the streets, hellbent on reaching Town Hall and burning your city to the ground. Build, upgrade, and strategically place defensive towers along every approach — from rapid-fire turrets and laser emplacements to missile batteries and EMP generators. Each wave brings tougher enemies, new unit types, and relentless escalation. Adapt your defenses on the fly, unlock powerful abilities, and hold the line at all costs. If Town Hall falls, the city falls with it. How long can you survive?
Defend Town Hall against endless waves of increasingly powerful enemies Build and upgrade a wide arsenal of towers — turrets, lasers, missiles, and more Strategic placement matters — control choke points and cover every approach Escalating difficulty with new enemy types, abilities, and boss waves Unlock powerful commander abilities to turn the tide in desperate moments Compete on global leaderboards for the longest survival streaks Play City Under Siege
This is a general announcement and marketing communication. Products and services referred to here may not be available in your region. Fellow Binancians, Binance is thrilled to launch a Gala (GALA) Trading Tournament where eligible users will have a chance to share a total prize pool of 150,000 USDC in token vouchers! In addition, Binance is introducing an “Early Bird Boost” multiplier, which aims to reward users for trading earlier. Promotion Period: 2026-05-08 10:00 (UTC) to 2026-05-15 10:00 (UTC) Join Now Eligibility: All verified new, regular users and all Binance VIP users can participate.Liquidity providers in the Binance Spot Liquidity Provider Program and Binance Brokers are not eligible to participate. Eligible Altcoin Trading Pairs Trading pairs: GALA/USDT, GALA/USDC Early Bird Boost Multiplier: During the Promotion Period, users will be assigned different multipliers based on the time they complete their trades. The multiplier decreases over time — the earlier you trade, the higher the multiplier and the higher your effective trading volume. Daily Effective Trading Volume = Actual Daily Trading Volume * Early Bird Boost Multiplier Note: Total trading volume for the competition is the sum of the Daily Effective Trading Volume during the Promotion Period. The leaderboard on the landing page will display the Total Effective Trading Volume. The daily Early Bird Boost multipliers during the Promotion Period are as follows: Date (UTC）Multiplier2026-05-08 10:00 to 2026-05-09 10:002x2026-05-09 10:01 to 2026-05-10 10:001.8x2026-05-10 10:01 to 2026-05-11 10:001.6x2026-05-11 10:01 to 2026-05-12 10:001.4x2026-05-12 10:01 to 2026-05-13 10:001.2x2026-05-13 10:01 to 2026-05-15 10:001x How to Participate: Click the [Join Now] button on the landing page to register.Total Effective Trading Volume reaches at least 500 USD equivalent in any of the aforementioned eligible pairs on Binance Spot during the Promotion Period. Users who do not meet this threshold will not qualify for any reward under this Trading Volume Tournament. Reward Structure: Rankings Based on the Cumulative Trading Volume During the Promotion PeriodReward per Eligible Participant (in USDC Token Vouchers)1st Place7,500 USDC2nd Place6,000 USDC3rd Place4,500 USDC4th Place3,000 USDC5th Place1,500 USDC6th - 20th PlacesAn equal split of 13,500 USDC21st - 50th PlacesAn equal split of 12,000 USDC51st - 200th PlacesAn equal split of 21,000 USDC201st - 1,000th PlacesAn equal split of 21,000 USDCAll Remaining Eligible ParticipantsAn equal split of 60,000 USDC, capped at 5 USDC per user Promotion Rules: Trading volume of any zero-fee trading pairs is excluded from the final trading volume calculation.Transaction or gas fees will be excluded from the final trading volume calculation for the tournament.All eligible buy and sell orders will be counted towards the cumulative total trading volume.Token vouchers will be distributed to winners by 2026-05-29, and will expire within 21 days after distribution. Users will be able to login and redeem their token voucher rewards via Profile > Rewards Hub.The Spot Trading Volume leaderboard is updated at least once every 24 hours. The leaderboard will be displayed on the Spot landing page. Data sync times vary daily but will always be completed by the end of the day.Only users who have met the minimum qualifying trading volume threshold will be displayed on the leaderboard along with their trading volume. Don’t miss out on this opportunity and share in the rewards now! To view more promotions for new listings on Binance, stay tuned to this page for the latest updates and exclusive opportunities. Guides & Related Materials: How to Spot Trade (App / Web) Terms & Conditions: These terms and conditions (“Activity Terms”) govern users’ participation in the activity above (“Activity”). By participating in this Activity, users agree to these Activity Terms, and the following additional terms: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice; all of which are incorporated by reference into these terms and conditions. In the case of any inconsistency or conflict between these Activity Terms, and any other incorporated terms, the provisions of these Activity Terms shall prevail, followed by the following in this order of precedence, and to the extent of such conflict: (a) Binance Terms and Conditions for Prize Promotions; (b) Binance Terms of Use; and (c) Binance Privacy Notice.Only verified users who complete the aforementioned criteria for the tournament by the end of the Promotion Period may receive rewards.This Trading Volume Tournament is available to verified new, regular and VIP users enabled for Binance Spot Trading, subject to product (and where relevant, deposit methods’) availability in users’ regions, and may be restricted in certain jurisdictions or regions, or to certain users, due to legal and regulatory requirements.Reward Distribution:All token voucher rewards will be distributed to eligible, winning users by 2026-05-29.Users will be able to login and redeem their token voucher rewards via Profile > Rewards Hub. All token voucher rewards will expire within 21 days after distribution. Winning users should claim their vouchers before the expiration date, and no replacement reward will be provided. Learn how to redeem a Binance voucher.Please note that the actual value of rewards received by a user is subject to change due to market fluctuation.Token voucher rewards are subject to additional terms and conditions.Rewards are not negotiable nor transferable.Once the available rewards have been allocated to users, no further rewards will be provided notwithstanding that an eligible user may have completed the missions.A user’s trading volume in this Trading Volume Tournament will be calculated after the user has opted-in and will be based on the trading volume (i) in their master and sub-accounts, and (ii) on all Spot products, including Spot Trading, Spot Copy Trading and Trading Bots. API trades are allowed. Binance’s calculation of a user’s trading volume is final.Binance reserves the right to disqualify a user’s reward eligibility if the account is involved in any dishonest behavior (e.g., wash trading, illegally bulk account registrations/logins, self dealing, or market manipulation). Binance further reserves the right to disqualify any participants who tamper with Binance program code, or interfere with the operation of Binance program code with other software.Binance reserves the right at any time in its sole and absolute discretion to determine and/or amend or vary these terms and conditions without prior notice, including but not limited to canceling, extending, terminating, or suspending these activities, the eligibility terms and criteria, the selection and number of reward recipients, and the timing of any act to be done, and all participants shall be bound by these amendments.The commencement and operation of the campaign (including the commencement of the Promotion Period) are subject to the successful listing of the relevant token on Binance Spot. If the listing is postponed or cancelled for any reason, the campaign (including the Promotion Period and reward distribution) may be delayed, amended or withdrawn at Binance’s discretion. Binance will not be liable for any loss or inconvenience caused by such changes.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 2026-05-08 Disclaimer: USDC is an e-money token issued by Circle Internet Financial Europe SAS (https://www.circle.com/). USDC’s whitepaper is available here. You may contact Circle using the following contact information: +33(1)59000130 and [email protected]. Holders of USDC have a legal claim against Circle SAS as the EU issuer of USDC. These holders are entitled to request redemption of their USDC from Circle SAS. Such redemption will be made at any time and at par value.
The wait is over! Our cyberpunk tower defense and inventory management game, Cybercore Node 99, created by AureonGames and hosted by Gala Games, is officially ready for release. We have thrown out traditional tower defense rules and replaced them with a deep, highly customizable spatial resource puzzle.
If you love games that force you to think strategically about inventory management and building flawless defensive networks to survive endless waves of enemies, the grid is ready for you. Here is everything you need to know to wire up your defenses and climb the leaderboards!
🏙️ Build Your Ultimate Arsenal
Surviving the endless enemy swarms requires more than just placing basic defenses. We have designed a deep combat system where your success depends on combining different components. To give you ultimate control over your strategy, your defenses are split into three distinct, interchangeable elements. By mixing and matching multiple types of each, you can discover powerful synergies and create wildly different strategies to survive:
Weapons (The Foundation): We have multiple weapon types that completely change how your towers acquire targets and output damage. Crucially, every weapon features a specific “magazine size.” This defines exactly how many bullets or projectiles will proc on each weapon cycle, allowing you to choose between unleashing rapid bursts or executing slow, heavy-hitting attacks. Ammo (The Payload): Weapons do not fire on their own! You must connect them to different Ammo types. By swapping your ammo, you change the actual properties of the projectiles, allowing you to adapt your damage output to specifically counter the enemies currently attacking your grid. Addons (The Game-Changers): Instead of boring stat boosts, our Addons provide true mechanical adjustments. You can equip specialized Addons that fundamentally alter how your weapons and ammo behave together to fit your specific strategy. 🧬 Merge to Maximize Power
Your tactical choices do not stop at simply placing components. As the enemy swarms grow stronger, your grid must evolve. By finding and merging identical copies of your Weapons, Ammo, and Addons, you will significantly improve their power and efficiency, turning a basic loadout into an unstoppable defensive network.
🔮 Just the Beginning: Expanding the Grid
This initial launch is only the foundation of what we have planned for Cybercore Node 99. As time goes on, we will be regularly expanding the game with massive content updates. You can look forward to entirely new Weapons, diverse Ammo types, game-breaking Addons, and entirely new ways to play and test your grid-building skills!
🏆 Play Now on Gala & Claim the Leaderboard!
The grid is online and the enemy swarms are approaching. We have fully integrated a global leaderboard to track the players who can survive the most waves with the most optimized defensive networks.
Play Cybercore Node 99 by AureonGames today on Gala Games, experiment with endless loadouts, and claim your spot at the top of the leaderboard!
Hey everyone, the moment we’ve been grinding toward is finally here! We’re hyped to announce that the official Beta for Greedy Cubes is now LIVE!
For those who’ve been following along, you know we’ve been hard at work building a fast, no‑nonsense real‑time multiplayer arena shooter — wallet‑first and skill‑first. The servers are up, the leaderboard is climbing, and we want YOU in the arena.
🎮 What’s Playable Right Now?
Open Arena: Jump straight into the live multiplayer map. Blast enemies, frag any other cube that crosses your path, and steal points off every kill to snowball up the leaderboard.
Persistent Progress: Connect your wallet and your cube, score, and gold are yours forever. Guest mode is available if you just want to taste it first.
Starter Loadouts: A full set of free starter cubes and faces unlocked from day one. Find your favorite, learn the map, dominate.
🗺️ What’s Coming Next? This is just the start. As we collect feedback and tune the core loop, the roadmap is loaded:
Ranked Mode — Win‑to‑Loot Battle Royale: A brand new competitive mode. Drop into the arena, hunt down other cubes, knock them off the map, loot their gold, and survive until the final cube standing. Climb the ranks, claim real rewards.
Expanded Cosmetics: More cubes, faces, trails, and effects.
Your feedback is everything. Found a broken combo? Spotted a bug? Hit a 50‑kill streak? Drop it in the feedback channel — let’s build the ultimate Web3 arena shooter together.
Connect your wallet, grab a cube, and let the carnage begin! ⚔️
Hey everyone, the moment we’ve been building toward is finally here! We are incredibly excited to announce that the official Beta for GALA All-Star Auto Arena (GAAAA!) is now LIVE!
For those who have been following our journey, you know we’ve been hard at work crafting the ultimate Web3 2D turn-based autobattler. The servers are officially running, the event queue is resolving, and we want YOU to be the first to test your strategies.
🎮 What’s Playable Right Now?
Casual Match: Jump into our core asynchronous arena mode. Draft your 5-slot team, merge identical units to level them up, and try to outsmart your opponents to secure 10 wins before losing all your hearts! Private Matches: Want to test your latest team build or settle a score with your friends? Create a private match and battle it out. The Initial Deck: We’ve unlocked the foundational base tier of free units and food items. Dive in, experiment with positioning, and discover the best ability synergies! 🗺️ What’s Coming Next? This is just the beginning of the journey. As we gather your feedback and polish the core loop, we are actively building out our roadmap for future updates:
Challenges & Events: Get ready for special, time-limited modes with unique rulesets to test your true tactical mastery. The “All-Star” NFT Integration: Prepare for the multiverse crossover! As the All-Star in our name suggests, we will soon be integrating Web3 NFT characters from different gaming universes as entirely new sets of cards and packs for you to collect, manage, and draft into your teams. Your feedback is everything to us. Whether you’ve found a completely overpowered combo, noticed a visual bug during a unit’s attack animation, or just want to show off your 10-win team, drop it in our feedback channels. Let’s build the ultimate Web3 autobattler together.
Jump into GAAAA!, set up your board, and let the battles begin! ⚔️
The arena shrinks. The crystals stack. Only one cube walks away. 💎
Join us on June 4th at 10:30 AM PST for the next Greedy Cubes Tournament — a high-stakes, last-cube-standing showdown where every kill steals your victim’s crystals, every disconnect drops loot on the floor, and the survivor takes it all.
Ante up. Survive the zone. Claim your Loot
Join our event and earn 20 crystals 💎 totally free. So you can enjoy our new game mode.
Keep your eyes peeled for surprise rewards during our event.
💎 How Rewards Work 💎
No podiums. No top 3. The crystals ARE the reward.
• Every kill: inherit your victim’s entire crystal stack
• Last cube alive: walk away with everything you accumulated
⚔️ Tournament Details ⚔️
• Date: June 4, 2026
• Time: 10:00 AM PST
• Mode: Tournament
• Entry: 10 💎 Crystals
• Rules: One life. No respawns. Shrinking zone. Sudden death.
• Platform: Greedy Cubes Arena
Sharpen your aim. Track the storm. Hunt the stragglers.
Every crystal on the field has your name on it… if you can take it.
🎮 Play now and start practicing:
Greedy Cubes
See you in the arena. May the greediest cube win. 💎⚔️
A new puzzle experience drops for the Gala community!
Dive into the classic word chain genre, featuring familiar crypto terminology.
Single player mode lets you navigate the Gala Worlds: Townstar, Mirandus, Eternal Night, and more.
Beyond the core worlds, unlock exclusive zones, daily challenges, and weekly community events.
Climb the leaderboard to claim weekly rewards, including exclusive skins, valuable gems, and tactical hints.
Access the game on browser and mobile. Connect directly and play within your MetaMask browser!
Don’t miss rewards for connecting your wallet and discord for the first time!
⭐Mark your calendars! Our inaugural competition,🌊 Deep Sea, kicks off next Monday, June 8 at 16:00 PST / 23:00 UTC. The event runs for one week, concluding on Monday, June 15.
The GREEDY AGENT just deployed on the arena. Every kill raises your wanted level.
Only the deadliest cubes will outrun the heat.
For 24 hours, your rap sheet IS your scoreboard.
Stack KOs. Raise the heat. Outrun the feds.
🔫 NEW: Greedy Agent Hunter Cubes
The more cubes you drop, the more black-suited agents come hunting you down.
• 500 pts → 1 GREEDY AGENT on your tail
• 2,500 pts → 5 agents + coordinated shotgun squads
• They never lose vision. They never give up.
• Die → heat resets. Start cooking again.
📅 Event Details
• Starts: Thursday, June 18 @ 00:00 UTC
• Duration: 24 Hours
• Mode: Open Deathmatch — Most Kills Wins
• Platform: Greedy Cubes Arena
🎟️ Grab your free event coupons in Discord BEFORE the event drops.
🧪 Fresh deployment — drop your feedback on the Greedy Agent in the channel.
⚠️ Final results posted after the 24h window closes.
🎮 Play Greedy Cubes
Run. Gun. Outheat the feds. May the greediest cube win. 🔥💎
Gala Playworks lets creators describe a game idea, generate a playable HTML5 draft, test it in the browser, and publish it with leaderboards, wallet sign-in, and optional reward controls.
Open the AI game maker
Copy the starter prompt
Free Publishing Week: Creators can publish a Playworks browser game without the standard publishing fee through June 12, 2026. Generate a draft, test the loop, and publish during the promo window when the game is ready.
Start during Free Publishing Week
If you are looking for an AI game maker for browser games, the hard part is not only getting code on screen. The useful part is getting a draft you can play, revise, publish, and show to players without leaving the creation flow.
This guide shows how to write a stronger first prompt, what to check after the first generated draft, how to refine the prompt when the game feels wrong, and how public Playworks examples can help you decide what to build next.
Publishing and reward setup should still follow the terms shown in the product. The waived publishing fee does not make creator-funded reward pools, eligibility rules, or other game terms free by default.
Quick start
Pick one core loop players can understand in ten seconds. Describe controls, scoring, fail state, visual style, and level pacing. Generate a draft in the Gala Playworks AI game maker. Test the feel, revise the prompt, then publish when the loop works. Start a browser game draft
What to put in your first AI game prompt A good prompt gives the AI game creator the same details a teammate would need before building a prototype. Name the genre, the player action, the threat, the scoring rule, the fail condition, the level structure, and the style of feedback players should see.
Starter prompt Make a browser arcade game where the player pilots a small lunar lander. Use left and right arrow keys to rotate, up arrow for thrust, and a visible fuel bar. The player earns points for landing softly on marked pads, loses if the ship hits too hard, and gets a final score screen with landing speed, remaining fuel, and total score. Use a dark sci-fi style, simple pixel art, and short instructions on the start screen. That prompt works because it names the controls, physics goal, scoring, failure, result screen, and art direction. The AI has fewer assumptions to make, and you have a clearer checklist for judging the first draft.
Three AI game prompts to try Use these as starting points, then change the theme, controls, enemies, score rules, or win condition. The best first game idea is small enough to test quickly and specific enough that the result can be judged.
Lunar landing score chase arcade
Make a lunar lander game with one-screen levels, limited fuel, landing pads with different score multipliers, and a leaderboard score based on soft landing speed, remaining fuel, and number of safe landings.
Top-down tank defense action
Make a top-down tank defense game where the player protects a base from waves of drones. Use WASD movement, mouse aiming, upgrade choices between waves, and a score bonus for keeping the base above 75% health.
Space wave survival shooter
Make a browser space shooter with short waves, collectible shields, enemies that enter from clear warning lanes, and a final results screen showing wave reached, enemies destroyed, damage taken, and score.
How to improve the first draft The first generated game should be treated like a playable draft. Run it, find the part that feels weakest, then ask for a specific revision. Broad feedback like “make it better” is less useful than changing one rule, speed, enemy behavior, or score moment at a time.
Weak revision prompt
“Make the game more fun.”
Better revision prompt
“Reduce player acceleration by 20%, add a fuel warning when fuel drops below 25%, make the landing pad wider in the first level, and show a score breakdown after each attempt.”
ProblemPrompt fixPlayers do not understand the goal.Ask for a start screen with one sentence of instructions, visible goal markers, and a result screen that repeats the scoring rule.Controls feel floaty or harsh.Name the control feel you want: slower acceleration, stronger braking, snap turning, short dash cooldown, or lower gravity.The game becomes unfair too quickly.Request wave pacing, warning indicators, enemy spawn caps, a gentler first level, and one safe recovery mechanic.The score does not teach replay strategy.Ask for score categories such as survival time, accuracy, resources saved, streaks, bonus objectives, and penalties. Use published Playworks games as references Public examples are useful because they show what a finished browser game page needs after the prompt is done: a playable build, clear launch action, rating and feedback signals, leaderboard entry points, and a creator path for making something similar.
Start with a reference like Moonlander, Armor Plated, or Nova Swarm. Then describe what you want to keep, what you want to change, and what the new player goal should be. This gives the AI game maker a concrete pattern without asking it to copy the original game.
A useful reference prompt might say: “Use the readable one-screen action of Armor Plated, but make the player protect a moving convoy, add upgrade choices after each wave, and score based on convoy health plus enemies destroyed.”
Build from a reference idea
Where the Arcade, leaderboards, and rewards fit The creator work does not end at generation. Once a draft is fun enough to publish, the public game page and Arcade help players find it, play it, rate it, and compete on scores. Reward-enabled games can also show wallet and eligibility context before a player enters a competition.
Keep reward language precise. Rewards are available only in eligible games and according to the terms shown for each game. A strong creator prompt should still focus first on the playable loop, because the leaderboard only matters if players want another run.
Start with one playable loop The fastest path is a small idea with a clear score. Write the prompt, generate the first draft, play it long enough to find the weak point, then revise one specific thing. When the result is understandable and replayable, publish it and use player behavior to decide what to build next.
Open the Gala Playworks AI game maker
Read the AI game tutorial
Reward note
Rewards are available only in eligible games and according to the terms shown for each game. Confirm live reward terms before naming any token amount or payout rule.
Editor note: Replace local image paths with uploaded Media Library URLs before publishing on News Gala. Confirm the Free Publishing Week date window before publishing if this article goes live after June 12, 2026.
Over the past year, Gala Games has continued to grow, bringing new experiences, new ways to play, and new opportunities for players to explore.
Today, games.gala.com serves as the home for a growing collection of games spanning multiple genres and playstyles. Whether you’re looking for competitive challenges, strategic gameplay, social experiences, or quick browser-based fun, there’s more to discover than ever before.
More Games Than Ever The library has grown. Whether you’re into strategy, competition, high fidelity shooters, quick browser sessions, or just seeing what’s new — there’s something here for you. New titles, updated favorites, and more on the way.
Just Hit Play No complicated setup. No long downloads. Many games run right in your browser, so you can go from curious to playing in seconds.
Built With the Community The Gala Games community has always been at the heart of what we do. Every update, every new release, every event is a chance to create something better — together. We’re listening, and we’re glad you’re here.
Explore What’s New This is an exciting time for Gala Games.
New games are arriving. Existing games are evolving. Communities are growing.
Whether you’ve been with us from the beginning or you’re discovering Gala Games for the first time, now is the perfect time to see what’s new.
In a notable development in the decentralized finance (DeFi) sector, Convex Finance has broadened its range of financial products through a new collaboration with Napier Finance. This partnership introduces a novel derivative wrapper, $cvxNPR, marking a significant expansion in Convex’s product lineup.
The inclusion of Napier Finance into Convex’s ecosystem underscores a strategic alignment aimed at enriching the utility and versatility of the Convex platform.
Convex will not post any links after this tweet. Links below this tweet that look like Convex are spam, fake or phishing links. Do not click any link under this tweet. pic.twitter.com/EIUcMxeu4g
— Convex Finance (@ConvexFinance) July 4, 2024 Napier Finance, known for its innovative yield trading strategies on the Curve protocol, complements Convex’s objectives to diversify and strengthen its offerings within the Curve ecosystem. This collaboration not only broadens the financial instruments available on Convex but also enhances the overall robustness of the DeFi landscape.
Strategic Integration and Benefits The integration of Napier Finance into the Convex ecosystem is a strategic move designed to leverage Napier’s specialized focus on yield trading strategies. This partnership is expected to introduce fresh use cases for the $CVX token, enhancing its application and appeal in the broader DeFi market. The launch of $cvxNPR is particularly significant as it represents the latest in a series of strategic expansions by Convex Finance aimed at diversifying its portfolio while reinforcing its connection to the Curve ecosystem.
The introduction of $cvxNPR not only broadens the scope of financial products under Convex’s management but also provides existing and new users with more versatile investment options. This expansion is indicative of Convex’s ongoing efforts to adapt and evolve in response to the dynamic DeFi sector, ensuring its platform remains competitive and relevant.
Engagement and Incentives in the DeFi Community The recent launch of Napier Finance has been accompanied by substantial community engagement initiatives, including a governance vote on Curve and an airdrop of Napier points to vlCVX holders. These points, redeemable as $cvxNPR, are part of a broader strategy to incentivize participation and investment in the Napier ecosystem. Convex Finance has made it clear that for vlCVX holders to benefit from the airdrop, active participation in Curve governance votes is essential.
Additionally, stakeholders in the Napier project have the opportunity to claim liquid $cvxNPR directly on the Convex platform. This mechanism ensures that $NPR remains locked, providing long-term value and voting rights which are managed by $vlCVX holders. The ultimate aim is to secure a controlling interest in $NPR governance, which will allow for the strategic direction of emission policies, aligning with Convex’s long-term objectives to enhance stakeholder value within its ecosystem.
AUTHOR
Mysterious crypto writer with expertise in blockchain, offering deep insights that captivate and intrigue readers. With a unique ability to uncover hidden insights and trends, Samuel delivers in-depth analysis and thought-provoking content that keeps readers on the edge of their seats. His writing style is engaging and informative, blending technical knowledge with a sense of intrigue, making complex crypto topics accessible to both newcomers and seasoned industry professionals. Samuel’s work continues to capture the attention of the crypto community, solidifying his reputation as a trusted voice in the space.
Convex Finance ($CVX) has popped out as ‘Coin of the Day’ with a significant spike of 9.3% during the last 24 hours. Because of the bullish performance of $CVX, many crypto investors are eyeing it and predicting strong market performance and community engagement.
Convex Finance, altcoin ranked 43 in the crypto market, dominating the crypto market in terms of market performance and social activity as compared to other completive cryptocurrencies. $CVX is trading at $2.26 with a 24-hour trading volume of $16,010,176, up by 56.23% luring the crypto investors and traders.
Statistical Analysis of $CVX: Convex Finance Outperforming Competitive Altcoins $CVX is giving a tough time to its competitive altcoins by outperforming them in terms of significant daily and weekly spike in price value. According to statistical data, $CVX is up by 9.3% during the last 24 hours and surged by 5.7% past week.
With a market cap of $184.14 million, $CVX touched its all-time high value (ATH) of $60.9 three years ago and now again seems bullish to bounce back in the green zone. As per the social chatter and Convex Finance’s significant growth, $CVX is now regarded as a valuable crypto asset in terms of gaining maximum profits in the coming time.
Price Prediction of Convex Finance As $CVX is outperforming many of its competitive altcoins, many crypto traders and investors are eyeing Convex Finance, to yield maximum profits by investing in $CVX. If we look at the community sentiment, around 86% of the community believes that $CVX is going to be bullish and it is the right time to invest in it. Based on the crypto history, the coming October (Uptober in crypto) will further push $CVX beyond the boundaries.
AUTHOR
Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.
Convex Finance (CVX) has seen a continuous downtrend since the crash at the end of July, with its price steadily declining each day. This prolonged drawdown has resulted in CVX reaching a new all-time low.
The persistent losses have left investors wary, leading to further pessimism about the token’s recovery prospects.
Convex Finance Investors Give UpInvestor sentiment around CVX has been overwhelmingly negative in recent months. As losses continued to mount over the last two months, confidence among holders began to erode. Many investors who initially believed in the token’s potential recovery are now skeptical about its ability to bounce back, especially in light of the consistent price declines.
This growing pessimism has worsened as CVX fails to establish a stable support level. The lack of bullish momentum and the token’s inability to reverse its downtrend has compounded concerns, leaving many holders uncertain about the future of their investments.
Read More: What Is Convex Finance (CVX)?
CVX Realized Losses. Source: SantimentCVX’s overall macro momentum is also troubling. Historically, Convex Finance has maintained a correlation with Bitcoin, a trend that typically benefits altcoins. However, this correlation has proven to be a bearish signal for CVX.
Whenever the correlation between CVX and Bitcoin improves, the altcoin has experienced further price drops. The current situation is no different, with the increased correlation contributing to CVX’s decline to a new all-time low.
This bearish macro environment, coupled with the strong correlation to Bitcoin’s price movements, has placed additional downward pressure on CVX. As the cryptocurrency struggles to recover, it remains vulnerable to further losses unless significant bullish sentiment returns to the market.
CVX Correlation to Bitcoin. Source: TradingViewCVX Price Prediction: What After a New LowOver the last four days, CVX has experienced a 16% drop, creating intense bearish pressure. This resulted in the token hitting a new all-time low, with an intra-day decline of 6%, bringing CVX down to $1.72. At the time of writing, CVX is trading slightly higher at $1.86, just above the critical support level of $1.81.
CVX would need to reclaim the local support level of $1.97 to regain momentum. However, given the current bearish sentiment and ongoing selling pressure, this may prove not easy in the near term. Without a significant change in the market conditions, CVX could struggle to break above key resistance levels and face consolidation above $1.81.
Read More: What are Crypto Airdrops?
CVX Price Analysis. Source: TradingViewOn a more optimistic note, if CVX manages to bounce off the $1.97 level, it could push back above $2.00. A successful breach of $2.12 would invalidate the bearish-neutral outlook and potentially trigger a recovery, although this remains a challenging scenario given the token’s recent performance.
Convex Finance Coin (CVX) is the native asset of the Convex platform, created by the Convex team with the motto of maximizing yield.
What Is Convex Finance (CVX)?Convex Finance (CVX) is a protocol designed to simplify the Curve boosting experience to maximize yield. Convex allows Curve liquidity providers to earn trading fees and claim boosted CRV without having to lock their CRV. Liquidity providers earn boosted CRV and liquidity mining rewards with minimal effort.
By staking CRV, Convex allows users to earn a share of the trading fees and CRV received by liquidity providers. This leads to better capital efficiency and a more balanced distribution between liquidity providers and CRV holders. Curve liquidity providers can deposit their LP tokens into Convex to maximize their CRV earnings with enhanced support. Curve DAO token stakers can earn boosted CRV and CVX tokens through the protocol.
There are no deposit or withdrawal fees with Convex. A small performance fee is charged, which is distributed to CRV stakers and CVX token holders. As DeFi farmers, CRV saw a need for users to receive the maximum support in a simplified manner and collect their real rewards directly without automatic sales. Additionally, it was identified that CRV stakers should be rewarded more since they are mining alongside liquidity providers. Convex aims to change the system by taking a lower performance fee, redistributing the fees to CRV stakers and CVX token holders, and distributing the rewards directly.
Where to Buy CVX Coin?Convex Finance can be securely traded on Binance, the world’s largest cryptocurrency exchange by trading volume. CVX Coin is traded on the Binance platform with pairs such as CVX/BTC, CVX/USDT, and CVX/BUSD.
To purchase Convex Finance (CVX), one must first register with the Binance exchange. Upon completing the registration, cryptocurrency or fiat money must be transferred to the Binance account wallet. After the transfer is completed, CVX Coin can be purchased from one of the three pairs mentioned above. For buying from the CVX/USDT pair, the user must first go to this pair’s interface. In the limit tab, the desired amount to be purchased is entered. Once the amount is specified, the purchase is completed with the Buy CVX order.
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.
A misconfigured oracle allowed an attacker to drain $9.5 million from Resupply, exploiting a critical flaw in a subDAO linked to Convex and Yearn.
(Photo of Vladimir Solomianyi on Unsplash)
Posted June 26, 2025 at 10:15 am EST.
Resupply, a decentralized stablecoin protocol operating as a subDAO of both Convex Finance and Yearn Finance, lost an estimated $9.5 million in a Wednesday exploit, according to a number of blockchain security firms.
The BlockSec team first flagged the exploit through its Phalcon platform’s X account, after which several researchers determined the root cause was the ResupplyPair contract using an empty ERC-4626 wrapper as the price oracle.
This story is an excerpt from the Unchained Daily newsletter.
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ERC-4626 is a tokenized vault standard for Ethereum, which provides a standardized interface for yield-bearing vaults. When an empty ERC-4626 vault is used as a price oracle, it reports inaccurate prices.
As a result, the attacker was likely able to manipulate the exchange rate to zero and enable uncollateralized borrowing of massive amounts of tokens.
According to one engineer’s analysis of the attack transaction, the attacker used only 2 crvUSD to borrow 10 million reUSD.
Humanity Protocol (H) is up 40% over the last 24 hours while Curve DAO (CRV) and Convex Finance (CVX) edge higher by 10% each as the broader cryptocurrency market recovers. The bullish rebound in H, CRV, and CVX gains momentum as it approaches a crucial resistance level.
Humanity Protocol steadies after a 40% riseHumanity Protocol ticks lower by 2% at press time on Tuesday, after a 40% jump on the previous day. The H token trades near $0.2000 with bulls aiming for the $0.2319 level, marked by the November 7 close.
If the altcoin clears this level, it could target the R1 Pivot Point at $0.2858.
The technical indicators on the daily chart show heightened bullish momentum. The Relative Strength Index (RSI) at 70 enters the overbought zone while the Moving Average Convergence Divergence (MACD) crosses above the zero line, accompanied by successively rising green histogram bars.
H/USDT daily price chart.On the flip side, the 50-day Exponential Moving Average (EMA) at $0.1191 could serve as a crucial support.
Curve DAO extends gains with renewed bullish momentumCurve DAO gains over 1% on Tuesday, extending the 8% rise from Monday, signaling a rebound within a falling wedge pattern on the daily chart. The CRV token approaches the overhead trendline connecting the October 13 and November 10 highs, near $0.4000.
If the DAO token secures a decisive close above this level, it could find the 50-day EMA at $0.4223 as an immediate resistance, followed by the $0.5000 psychological mark.
The RSI on the daily chart is at 48, pointing upwards and inching closer to the midpoint line, indicating reduced selling pressure. Additionally, the MACD crosses above its signal line, suggesting a refreshed bullish momentum.
CRV/USDT daily price chart.Looking down, a potential reversal below the S1 Pivot Point at $0.3365 would nullify the wedge pattern, potentially extending the decline to the S2 Pivot Point at $0.2583.
Convex Finance rally eyes 50-day EMA breakoutConvex Finance gains nearly 3% at the time of writing on Tuesday, building on the almost 7% jump from the previous day. The 50-day EMA at $1.93 serves as the immediate resistance for the CVX rebound.
If the token clears this moving average, it could extend the rise above $0.20 to the R1 Pivot Point at $0.22.
Similar to Curve DAO, the MACD indicator shows a bullish crossover, signaling renewed bullish momentum, while the RSI at 54 crosses above the centerline, indicating a rise in buying pressure.
CVX/USDT daily price chart.However, if the CVX token reverses to the downside, it could mark a lower leg closer to the S1 Pivot Point at $1.48.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
16 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
16 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
16 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
16 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
16 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
Kepler Cheuvreux raises ASML’s European share price target from €1,460 to €1,830.
Kepler Cheuvreux has raised the target price for ASML’s European shares from €1,460 to €1,830.
16 minutes ago
Stifel: U.S. economy in "overheated expansion" as AI investment cycle outweighs consumer pressure
U.S. large diversified financial services holding company Stifel has raised its year-end S&P 500 target and rolled out a stock allocation framework for a "high-growth, high-inflation" environment. The firm lifted its year-end S&P 500 target to 7,800 points, noting the U.S. economy is entering a "running hot" state—where economic growth is strengthening alongside mounting inflationary pressure. Stifel’s models show U.S. growth momentum is picking up while inflation momentum is clearly overheating, a trend that will reshape the market’s leading sector structure in the second half of the year. Instead of traditional consumer sectors, Stifel’s top picks are investment-led cyclical industries, including banks, transportation, materials, energy, semiconductors, software and equipment. The firm adds that fixed-asset investment in AI remains on the rise: large tech firms including Amazon, Microsoft, Meta and Google are projected to combine for roughly $725 billion in total capital expenditures in 2026, some $100 billion higher than prior estimates. This means the AI investment chain is likely to continue outperforming the consumption chain squeezed by inflation. Stifel advises investors to reduce exposure to discretionary consumer, consumer staples, communication services and some financial services sectors, as these areas see weaker earnings revisions. Conversely, the firm favors cyclical value stocks and hedges with defensive value sectors such as insurance, autos, energy and banks.
16 minutes ago
Analyst: Micron's earnings boost overall market sentiment for the tech sector
Chris Strazzeri, Financial Trading Manager of Moomoo’s Australia and New Zealand branch, stated: “The targeted sell-off indicates that following a sustained, strong rally in AI-related and speculative growth stocks, investors are enforcing strict valuation discipline. This serves as a warning to the market that actual earnings levels must now rise to support the currently overvalued price-to-earnings ratio. Micron Technology’s post-market earnings results largely confirm this, and its robust performance has lifted overall market sentiment in the tech sector.”
16 minutes ago
2x Leveraged Long DRAM ETF (RAM) Records $383 Million in Trading Volume on Its First Day of Listing
According to Bitget market data, the Roundhill T-REX 2X Long DRAM Daily Target ETF (Nasdaq ticker: RAM) officially launched trading yesterday. On its first trading day, the fund recorded a total turnover of $383 million, and rose 29.47% in after-hours U.S. stock trading to hit $30.8. Note: RAM’s underlying exposure covers companies engaged in memory-related technologies, including DRAM, NAND and storage solutions, targeting active traders seeking leveraged exposure to the memory chip theme and artificial intelligence infrastructure development.
16 minutes ago
BCA Research raises its S&P 500 target to 8,100 points, with AI remaining a core variable.
BCA Research has become the latest strategy firm to raise its US stock market target, reflecting Wall Street’s growing optimism about earnings support for US equities in the second half of the year. The institution lifted its year-end S&P 500 target from 7,700 points to 8,100 points. BCA’s core view is that first-quarter corporate earnings exceeded expectations in both strength and breadth, and the US economy has re-entered an expansion phase. Similar to JPMorgan Chase, BCA believes this stock rally is not only driven by valuation expansion—earnings themselves are delivering the index’s gains. AI remains the core variable in this assessment. Large tech firms including Alphabet, Microsoft, Amazon, Meta and Oracle continue to increase capital spending on data centers and AI infrastructure, driving growth in orders for chips, servers, construction, power and related industrial chains. This provides a clearer fundamental basis for upward revisions to 2026 and 2027 earnings. The institution points out that risks exist: the earnings expansion brought by AI investments has already been quickly priced into the market. If subsequent returns on capital spending are questioned, or interest rates remain elevated, further upside for the index will require more earnings confirmation rather than relying solely on investor risk appetite.
16 minutes ago
Tom Lee: Markets have nearly priced in two interest rate hikes from the Federal Reserve this year, and the rise in US Treasury yields is weighing on market sentiment.
Tom Lee said the market is still digesting Kevin Warsh’s remarks from his first press conference last week and repricing the macro environment. Over the past week, oil prices have pulled back, with war premiums contracting. Current oil prices are not far from the roughly $65 level seen before the conflict, indicating the market views related war risks as declining. On the other hand, 10-year U.S. Treasury yields continue to rise, now around 4.5%, higher than the pre-conflict level of roughly 4.2%. The main headwind the market has faced recently has shifted from oil prices to yields. Tom Lee noted that the market is not only focused on 10-year U.S. Treasury yields but also starting to price in potential additional interest rate hikes from the Federal Reserve. According to federal funds futures, the market is currently pricing in nearly two rate hikes this year. Bank of America further projected today that the Fed will raise rates three times this year, in September, October, and December respectively. Jeffrey Gundlach often emphasizes the importance of monitoring 2-year U.S. Treasury yields, as they typically lead the Fed and signal the central bank’s policy direction. Between 2023 and 2025, the relationship between 2-year U.S. Treasury yields and the federal funds rate indicated that the Fed’s policy was overly tight, requiring interest rate cuts. However, this relationship has recently reversed, meaning the Fed would need two rate hikes to catch up with 2-year U.S. Treasury yields. He believes that, at least for now, yields have become a headwind for the market.
Decentralized Finance (DeFi) tokens, including Jito (JTO), Morpho (MORPHO), and Convex Finance (CVX), rank among the top-performing crypto assets over the last 24 hours. Jito dips on Wednesday after rallying 22% the previous day on the launch of a new mainnet node. Mopho holds near its 200-day Exponential Moving Average (EMA) at approximately $1.50, while Convex Finance extends higher toward a key resistance trendline.
Jito takes a breather after a bullish spikeJito surged 22% on Tuesday on the launch of its new mainnet node. However, the 50-day EMA capped the intraday gains, reflecting the downside bias. The declining downside slope of the 50-day and 200-day EMAs reaffirms the prevailing bearish bias.
At the time of writing, JTO is down 7%, risking a pullback below $0.30. A decisive close below this psychological support could extend the decline to the S1 pivot point at $0.21.
The technical indicators on the daily chart flash mixed signals. The Relative Strength Index (RSI) at 50 remains neutral as short-term buying pressure wanes. Meanwhile, the Moving Average Convergence Divergence (MACD) exhibits a steady upward trend, with the signal line remaining positive and the histogram expanding. This suggests a rush in bullish momentum.
JTO/USDT daily price chart.To reinstate an upward trend, the Jito must hold a decisive close above the 50-day EMA at $0.3462, which would extend the upside to the R1 pivot point at $0.46.
Morpho tests a crucial resistanceMorpho is trading at $1.51 at press time on Wednesday, testing its 200-day EMA at $1.50 following a 10% jump on the previous day. The upward slope in the 50-day EMA reflects a short-term bullish bias. The DeFi token has extended its weekly gains by roughly 15% so far, following the 15% rise in the previous week.
A decisive close above the 200-day EMA at $1.50 would likely test the R2 pivot point at $1.59.
The technical indicators on the daily chart reflect a buy-side dominance. The RSI is at 64, inching closer to the overbought zone as buying pressure increases. At the same time, the MACD and signal line extend into positive territory, with successive positive histograms. This suggests a significant increase in bullish momentum.
MORPHO/USDT daily price chart.However, a bearish close to the day would indicate significant easing of upside pressure, risking a retest of the R1 pivot point at $1.36.
Convex Finance rally gains tractionConvex Finance continues to rise for the third consecutive day, surpassing $2.00. At the time of writing, CVX is up nearly 3% on Wednesday, extending its bounce back from the 50-day EMA at $1.96.
The DeFi token is approaching a crucial resistance trendline at $2.21, which connects the October 13 and January 29 highs. A decisive close above $2.21 would likely open the door to higher resistance levels, including the 200-day EMA at $2.34 and the R1 pivot point at $2.53.
The RSI at 58 on the daily chart is rising upwards from the midline with further upside before reaching the overbought zone. Additionally, the MACD crosses into positive territory as the histogram widens, indicating a surge in bullish momentum.
CVX/USDT daily price chart.On the flip side, crucial support remains at the 50-day EMA at $1.96, followed by $1.58, which aligns with the November 21 low.
How Convex Finance is still serving top farming opportunities four years after its peak.
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Convex was once DeFi’s ultimate power broker.
At its peak in early 2022, this DeFi protocol controlled more than $20B in user deposits and used its immense governance control over the adjacent Curve ecosystem to mold crypto’s liquidity landscape.
While Convex remains firmly embedded in the onchain economy – still fulfilling its role as a battle-tested bastion for yield and ranking among the largest protocols in its category – this former giant stands diminished, with total value locked down 97% after having failed to reclaim its DeFi dominance in recent years.
Today, we’re exploring how Convex is continuing to produce leading crypto market yield for DeFi's capital allocators despite its more modest scale in 2026.
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Jack Inabinet is a Senior Analyst with a passion for exploring the bleeding edge of crypto and finance. Prior to joining Bankless, Jack worked as an analyst at HAL Real Estate where he conducted market research and financial analysis for commercial real estate development and acquisition activities in the Seattle region. He graduated from the University of Washington’s Michael G. Foster School of Business.
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Mochi founder Azeem Ahmed sold 550K CVX from a Curve-linked stash as on-chain probes allege over $8M in diverted rewards and $54M in DeFi losses.
Summary
Mochi Finance founder Azeem Ahmed sold about 550,285 CVX for roughly $946,000, pushing the token down more than 10%. The CVX stack traces back to a 2021 Curve pool drain that left liquidity providers with an estimated $54 million in losses. Ahmed now faces years of on-chain fraud allegations spanning at least four DeFi projects, with diverted rewards and liquidity drains topping $8 million. Azeem Ahmed, founder of Mochi Finance and GaiaDAO, has sold approximately 550,285 Convex Finance (CVX) tokens from wallets linked to a 2021 Curve Finance drain, netting around $946,000 and triggering a double‑digit intraday slide in CVX’s price. On March 19, the tokens were liquidated at an average price of about $1.72, sending CVX from roughly $1.88 to $1.68, a drop of more than 10% according to on-chain data reviewed by Crypto Daily. The proceeds were routed to a multisig associated with the Mochi protocol, which held about $864,858 in assets after the sale, while another 500,000 CVX remain locked on Convex Finance.
The CVX position itself originates from Mochi’s controversial November 2021 move to mint its USDM stablecoin against MOCHI and drain roughly $46 million in DAI-equivalent liquidity from the USDM/3CRV pool on Curve. At the time, Mochi used 10 billion MOCHI tokens—assigned a hard‑coded oracle price despite near‑zero market value—to mint 46 million USDM, convert the proceeds into 9,876 ETH, and purchase about 1,050,285 CVX, which were then locked on Convex Finance, according to certified crypto‑trace reports by forensics firm IFW Global. Curve’s Emergency DAO responded by killing Mochi’s gauge and blocking further emissions after characterizing the maneuver as a “clear governance attack,” a clash that became part of the broader “Curve Wars” over CVX and CRV voting power and emissions.
From “peg rebalancing” to diverted rewards In the aftermath, Ahmed re-emerged through GaiaDAO with a Peg Rebalancing Module (PBM) pitched as a mechanism to distribute CVX staking rewards from the locked position to USDM holders and gradually restore the stablecoin’s peg. The PBM charged a 2% management fee and 20% performance fee payable to Ahmed, but according to Curve governance forum records, he unilaterally hiked the performance fee to 50% before community backlash forced him to reverse the change. By November 2025, reward distributions from the 1,050,285 vlCVX position had stopped entirely, and on-chain data indicates those rewards were rerouted to a wallet that also acts as a signer on the CVX multisig, with the value of diverted staking rewards alone estimated at more than $1.6 million.
Beyond staking flows, investigators allege that about 2,198 ETH—worth roughly $6.67 million at the time—and $471,429 in USDC were drained from Mochi/ETH liquidity pools and never returned to depositors, while airdrops from protocols including Prisma, CNC, VELO, LFT, and YB reportedly remained unclaimed or undistributed. Aggregate investor losses tied to the Mochi ecosystem and its associated pools are now estimated at over $54 million, according to IFW Global’s certified reports.
A pattern of disputes and legal risk Ahmed’s track record stretches back to at least 2020 and spans Yieldfarming.insure (SAFE), Armor.fi, Mochi Finance, and GaiaDAO, with repeated accusations of misappropriating community funds. During the original Mochi‑Curve confrontation, Curve alleged that Mochi’s strategy amounted to a governance attack, while Ahmed insisted in an interview with Crypto Briefing that the team had simply taken a “bold approach to gaining voting power in the DAO” and argued that the “DeFi Cartel … feels threatened that a small player on the outskirts” could challenge incumbents. Robert Forster, Ahmed’s former co‑founder at Armor.fi, later accused him publicly of stealing “millions in LP tokens,” a charge Ahmed denied by claiming the funds were “returned in full” and counter‑alleging that Forster had taken money for personal use.
Legal pressure has also followed the on‑chain drama into courts. A prior lawsuit by an Armor.fi user in San Francisco Superior Court (Chen v. Ahmed, Case No. CGC‑21‑589609) ended in an out‑of‑court settlement after a temporary restraining order application, according to filings referenced in IFW Global’s reports. Attorneys now point to potential U.S. claims spanning securities fraud under Section 10(b), racketeering (RICO), common‑law fraud, conversion, and unjust enrichment, and affected investors have been directed to file complaints with the Securities and Exchange Commission, Commodity Futures Trading Commission, and the FBI’s IC3 portal.
What Ahmed’s latest sale means for CVX and DeFi Ahmed’s March 19 liquidation is the most aggressive on-chain move from Mochi‑linked wallets since the 2021 Curve incident and is being read by many affected investors as confirmation that the locked CVX will be used for exit liquidity rather than restitution. With roughly 500,000 CVX still locked on Convex Finance and controlled via the same governance structure, any further sales could become major liquidity events for CVX and reignite questions over how DeFi protocols respond when governance power is acquired through exploits rather than open‑market buying. Ahmed, described in IFW documentation as a UK citizen, has not publicly responded to the latest allegations, and his social media profiles have been inactive for months.
PANews reported on April 25th that Bitcoin developer Paul Sztorc announced on April 24th plans to implement a hard fork of the Bitcoin network in August, launching a new chain, eCash. This fork will use a replica of the BTC Core client and the SHA-256 algorithm, reducing initial mining difficulty. Bitcoin holders can exchange their Bitcoin for eCash at a 1:1 ratio. It will also add seven Layer 2 scaling networks, known as "drivechains," to increase transaction throughput and support optional on-chain privacy features.
Sztorc emphasized that eCash differs from Bitcoin Cash (BCH) in 2017 by "manually" redistributing approximately 1.1 million BTC from Satoshi Nakamoto to early investors, calling it a "permanent solution to the Bitcoin problem." This proposal sparked strong opposition from the community, with Bitcoin advocates criticizing it as "stealing Satoshi's tokens" and questioning the limited existing applications of eCash, predicting the project's complete failure within two to three years. Currently, the Bitcoin community is engaged in heated discussions surrounding protocol upgrades, privacy protection, and post-quantum resistance.
Paul Sztorc, a Bitcoin developer, will develop eCash, a BTC clone, as a solution to the problems in Bitcoin.
25.04.2026 - 19:30
Update: 25.04.2026 - 19:30
Bitcoin developer Paul Sztorc has announced a new hard fork plan that could create a fundamental change to the network.
This upgrade, called “eCash,” is scheduled to launch in August, and the project aims to create a Layer 1 network as an alternative to Bitcoin, along with seven Layer 2 scaling solutions (Drivechains).
According to information shared by Sztorc, after the hard fork, existing Bitcoin (BTC) holders will be able to exchange their assets for eCash at a 1:1 ratio. It was stated that the new chain’s Layer 1 node software will be largely a copy of the Bitcoin Core client, while continuing to use the SHA-256 algorithm. However, it was also announced that the initial difficulty will be reduced to increase mining participation.
Another notable aspect of the project is the integration of seven Layer 2 solutions aimed at increasing transaction capacity. This structure is planned to support both higher transaction throughput and optional on-chain privacy features.
Sztorc argued that eCash differed from forks like Bitcoin Cash, which emerged in 2017, stating that the project aimed to “solve Bitcoin’s long-standing problems.” However, this approach sparked disagreements within the community.
One particularly controversial proposal was to “manually redistribute” a portion of the approximately 1.1 million BTC believed to belong to Satoshi Nakamoto to early participants. Some Bitcoin supporters strongly opposed this plan, arguing that it would constitute interference with the assets on the original chain.
*This is not investment advice.
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