THORChain čeká na schválení verze v3.19.0 od validátorů, aby mohl spustit postupný restart po exploitu za 10,7 milionu USD. Aktualizace přidává karanténu kompromitovaného vaultu a kontroly keyshare před obnovením podpisů.
THORChain has moved into the next phase of its recovery from the May 15 vault exploit.
Summary
Validators must approve v3.19.0 before THORChain begins its staged restart and fully restores network services. The upgrade adds compromised-vault quarantine and temporary keyshare checks before signing resumes across the network. ADR-028 applies the recovery plan without minting new RUNE or diluting existing token holders further. Validators are now reviewing version 3.19.0, which combines security patches with the ADR-028 loss-recovery plan.
The release also introduces a mechanism that can quarantine a compromised vault. THORChain said this would stop an affected vault from processing transactions while keeping its activity visible to the network.
Validators review THORChain v3.19.0 “The next major step in the recovery process is now underway,” THORChain said in its sixth incident update. Validators must vote to approve v3.19.0 before the network can begin the staged upgrade.
THORChain Incident Update #6
The next major step in the recovery process is now underway. Validators are being asked to review, approve, and prepare for the v3.19.0 upgrade, which contains the TSS security patches and ADR028 implementation designed to address the economic impact…
— THORChain (@THORChain) June 8, 2026 The release contains patches for the threshold signature system used to control THORChain vaults. It also implements ADR-028, the governance plan approved after the exploit. The protocol said the upgrade would move the network closer to restoring normal operations.
Version 3.19.0 includes a new Compromised Vault Mimir setting. Once enabled, the setting will isolate the drained vault from transaction processing without removing it from network monitoring.
Keyshare checks come before signing resumes THORChain plans to validate the ADR-028 data migration after validators complete the upgrade. Every node must then verify the integrity of its keyshares through a temporary protocol called keyverify.
Keyshares allow validators to sign vault transactions together without one operator holding the full private key. The added check aims to confirm that the remaining shares are intact before signing restarts.
After those checks, validators will unhalt signing and start a churn. Churning replaces the active validator set and transfers assets into newly generated vaults. The network will wait for that process to finish before restoring other services.
Secured and Trade assets will return first. Liquidity-provider actions will follow, while trading will resume at the end of the 11-step process. Each stage depends on the previous checks completing successfully.
ADR-028 covers losses without new RUNE As previously reported by crypto.news, THORChain validators approved ADR-028 in May. The plan uses protocol-owned liquidity to absorb losses before allocating any remaining shortfall across synthetic asset holders.
The framework does not mint or sell new RUNE. It also avoids direct dilution for existing holders. Future system income will help rebuild protocol-owned liquidity after the restart.
THORChain also activated a bounty window for the attacker and approved the full slashing of the linked node. The protocol said innocent nodes that shared the affected vault would remain protected.
Full restart still depends on validators The May 15 exploit drained about $10.7 million from one of THORChain’s five vaults. THORChain’s report said a newly added node exploited a weakness in the GG20 threshold signature implementation. Four other vaults remained unaffected.
Automatic solvency checks detected the imbalance and halted signing within minutes. Node operators later paused trading, chain observation and churning while developers investigated the attack.
Validator approval of v3.19.0 would begin the final technical sequence, but it would not restore every service at once. THORChain will reopen signing, asset functions, liquidity actions and trading in stages after completing the vault, migration, keyshare and churn checks.
THORChain po více než měsíci obnovil obchodování, swapy i likviditní operace po exploitu za 10,7 milionu USD. Síť mezitím dokončila bezpečnostní upgrady a migraci starých trezorů.
THORChain has resumed activity after over a month of security verifications and upgrades, following a $10.7 million exploit that prompted a trading halt on May 15.
In a Tuesday X post, THORChain said it restored its network, including trading, signing, swaps and liquidity provider actions.
On Sunday, the protocol said it had confirmed the safety of most of its vaults through the KeyVerify protocol and retired the remaining legacy vaults as part of a migration to a new set of vaults. THORChain called the upgrade the “most significant milestone” in its recovery process. It also said it completed verification of every node's keyshare on Friday.
THORChain is one of the crypto industry's largest cross-chain trading protocols, enabling swaps between networks such as Bitcoin and Ethereum. The protocol has drawn scrutiny from blockchain investigators because hackers have used it to move stolen funds between blockchains.
Source: THORChain
THORChain ships security upgrades and migrates old vaultsTHORChain attributed the exploit to a vulnerability in its GG20 threshold signature scheme, which is used to secure protocol vaults by distributing key control across multiple node operators. According to the protocol, the flaw allowed a malicious node operator to reconstruct a full private key through what it described as “progressive key material leakage,” enabling the theft of $10.7 million.
The protocol implemented an emergency patch on May 20 to protect the remaining vaults before releasing an upgrade on June 9, which included a fix for the exploited vulnerability. A follow-up upgrade was rolled out on June 11 with additional stability improvements and fixes to the KeyVerify protocol.
THORChain network overview, node upgrades. Source: THORChain Explorer
With the recovery process largely complete, THORChain has also outlined plans for new network integrations.
THORChain said it will launch native swaps and vaults for privacy-preserving cryptocurrency Zcash (ZEC) within the next two weeks, followed by Monero (XMR).
It also plans to launch support for the Bittensor (TAO) token in about six weeks after the network’s restart.
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Cryptocurrency exchange Coinbase has announced it will add support for Reserve Rights (RSR) on the Base network. The exchange also mentioned that the transfers are already available on both Coinbase and Coinbase Exchange in regions where trading is supported.
Coinbase Listing Coincides With Paul Atkin’s Development According to the announcement, trading for RSR will begin on or after 9AM PT on April 22, 2025. The news comes as the RSR token shows strong price performance across multiple timeframes. The token has jumped 7.7% in the past 24 hours, 7.2% over seven days, and also 24.3% over the past month.
Coinbase will add support for Reserve Rights (RSR) on the Base network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets 🛡️ (@CoinbaseAssets) April 21, 2025
This upward momentum coincides with recent developments related to Paul Atkins, who has connections to the Reserve Rights project and was recently confirmed as President Trump’s next Chairman of the Securities and Exchange Commission.
The timing of Coinbase’s announcement has drawn attention given the token’s connection to Atkins. He previously served as an advisor to the Reserve Rights Foundation during the project’s early development phase.
The top crypto exchange has provided specific details about how the RSR token will be integrated into its platform. The exchange will support Reserve Rights exclusively on the Base network.
The roll-out will be phased and trading will commence on or after 9 AM PT on April 22, 2025. With that noted, the timeline is subject to liquidity levels being met. When sufficient supply of RSR is accumulated on the exchange, trading will start on the RSR-USD trading pair first.
Atkins Connection And RSR Listing Coinbase’s timing of listing RSR has been questioned due to the token’s connection to Paul Atkins. Atkins served as an advisor to the Reserve Rights Foundation. This was when the project was still in its early phase of development.
As a former SEC Commissioner before accepting his advisory role with Reserve Rights, Atkins advised the project when it was beginning. Reserve’s co-founder and CEO Nevin Freeman publicly praised Atkins’ contribution to the project. He also complimented his balanced way of regulating cryptocurrencies.
I’m pleased to hear that Paul Atkins is in the running for SEC chair!
Paul has been open to working with crypto clients in his consultancy since 2017. I believe he would take a principled approach and I’d be very excited to work with him and his team on productive rule makings… https://t.co/Xp88ha0H8z
— Nevin Freeman 🌐👾 (@nnevvinn) November 28, 2024
Market experts have credited RSR’s recent price appreciation partially to hopes that Atkins’ SEC Chair nomination could bring a crypto-friendly regulatory period for cryptocurrency projects. This can be seen from the token’s robust performance.
The recent announcement comes amidst Coinbase’s renewed legal battle as Oregon’s Attorney General prepares to file a securities enforcement action against the cryptocurrency exchange.
Helium Mobile v březnu dosáhl rekordních měsíčních tržeb 2,5 milionu USD, už třetí měsíc po sobě nad 2 miliony. Většinu tržeb nyní tvoří carrier offload.
Solana-based DePIN protocol Helium Mobile reached a new milestone in March 2026, recording $2.5 million in monthly revenue, its highest level to date, as reported in Syndica’s latest DePIN report. The decentralized wireless network, built on Solana, continues to shift toward a usage-driven model, with carrier offload and network utilization playing a larger role than new infrastructure deployment.
This latest performance places first-quarter 2026 revenue close to surpassing Helium Mobile’s entire mobile revenue for 2025, signaling an acceleration in real-world adoption and monetization.
Subscriber Growth and Product Expansion According to Blockworks data, Helium Mobile currently has almost 700,000 total sign-ups, gaining almost 100,000 sign-ups in the past two months, reflecting continued interest in its service model. Monthly subscriber additions also increased, rising to 14,000 in March from 12,000 in February.
The company introduced Helium Hangouts, a new in-app feature that allows subscribers to discover local venues with Helium connectivity.
This feature aims to deepen user engagement and reinforce the network’s real-world utility by connecting digital participation to physical locations.
At the same time, Helium’s broader usage metrics continue to expand. Daily offload reached 111 terabytes, while total subscribers stand above 3 million. Average daily data offload increased by 10%, and the number of daily offload users rose by 12% in March, indicating stronger engagement across the network.
Shift From Deployment to Utilization Helium’s growth strategy has increasingly emphasized network utilization over rapid infrastructure expansion. Monthly hotspot deployments remained in the low thousands, a sharp contrast to early 2025 levels that ranged between 27,000 and 30,000 per month.
Despite slower deployment, the existing network base of approximately 128,000 hotspots continues to support rising traffic volumes. Real-world usage has begun to validate this approach. Thousands of users connected through Helium infrastructure at the Okeechobee Music Festival, demonstrating the network’s ability to handle dense, high-demand environments.
This shift suggests that Helium has entered a phase where demand growth can be absorbed by existing infrastructure, improving capital efficiency while supporting higher throughput.
Revenue Composition and Carrier Offload As mentioned in Syndica’s March 2026 DePIN report, Helium Mobile’s revenue growth remained consistent throughout the first quarter. Monthly revenue rose 14% from $2.2 million in February to $2.5 million in March. This marks the third consecutive month that Helium Mobile has generated more than $2 million in revenue, a threshold first crossed in January 2026.
Carrier offload now represents the majority of Helium Mobile’s revenue. In March, offload-related fees accounted for 57% of total revenue, continuing a steady increase from near parity earlier in the year. Major United States carriers are routing larger volumes of traffic through Helium’s network, reinforcing its role as a complementary infrastructure layer within the telecom ecosystem.
This transition highlights a structural shift in Helium’s business model. While subscriber revenue remains important, enterprise demand from carrier partners increasingly drives overall income.
Solana DePIN Ecosystem Rebounds According to Syndica’s March 2026 DePIN report, The broader Solana DePIN sector also showed signs of recovery in March. Projects including Helium, Render, Hivemapper, UpRock, NATIX, XNET, and GEODNET collectively generated $2.9 million in revenue, representing a 16% increase from February.
At the same time, deployer rewards reversed a prolonged decline. Total rewards distributed across Solana DePIN protocols rose 31% to $2.1 million, up from February’s $1.6 million. Upcoming token generation events from projects such as Wingbits and Dabba may further increase incentives and network participation.
Wireless-focused protocols reached another milestone, delivering a combined 45,000 terabytes of offloaded data in March. This represents a 22% increase from February’s 37,000 terabytes and underscores rising demand for decentralized connectivity solutions.
Performance Across Key DePIN Projects Several projects within the ecosystem reported notable gains. Dabba Network recorded a 24% increase in usage, reaching 42,000 terabytes of data consumption. The project also signaled a transition toward on-chain infrastructure through a newly published roadmap.
XNET achieved 150 terabytes of offloaded data in March, a 40% increase from the previous month. It also introduced Passpoint, a feature that streamlines WiFi authentication by removing the need for captive portals. This development aims to reduce user friction and attract more venue operators.
Hivemapper delivered one of the strongest recoveries in the sector. Revenue rose from $9,000 in February to $75,000 in March, driven by renewed token burn activity and new product releases. Contributor participation increased 51% to 242, while total mapped distance grew 38% to 11 million kilometers.
Render Network nearly doubled its revenue to $176,000, supported by progress in integrating decentralized GPU infrastructure through a partnership proposal with Salad. Meanwhile, UpRock expanded its reach with the launch of OpenClaw DePIN and a global internet survey covering over 500,000 devices.
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Noble Mobile Andrewa Yanga koupila Helium Mobile, službu postavenou na síti Helium. Uživatelé mohou očekávat hladký přechod a zachovat si svá čísla i přístup ke stejné 5G síti.
In brief Andrew Yang's Noble Mobile acquired Helium Mobile, the service provider built on top of the crypto-fueled Helium network. Deal terms were not disclosed, but Helium Mobile COO Frank Mong said subscribers should expect a smooth transition. Nova Labs will now focus on growing the network and onboarding additional companies to Helium. Helium Mobile, the mobile service provider built on the decentralized, crypto-powered Helium network, has been acquired by Noble Mobile, the affordability-focused telecommunications company of former presidential candidate Andrew Yang.
Helium Mobile, which at one time offered a free mobile plan (but recently axed it), said it shares a similar commitment to its customers, with the combined company set to offer low-cost service plans in an effort to disrupt the giants of the mobile industry.
“We were drawn to Noble Mobile because of a deep alignment in values, vision, and the people leading the organization,” Helium Mobile COO Frank Mong told Decrypt.
“Our subscribers deserve a home that shares our conviction that connectivity should be affordable and accessible to everyone,” he added. “Noble Mobile embodies that, and it gave us confidence that our subscribers would be in the right hands long-term.”
Subscribers to Helium Mobile’s mobile plans should expect a smooth transition, according to Mong, who said that users will be able to keep their phone numbers and maintain access to the same 5G network powered by T-Mobile. Helium Mobile’s offering is also underpinned by Helium, the Solana-based decentralized network composed of hotspots deployed worldwide, which Noble has also agreed to use as part of the deal.
The “crowd-built” cellular network is built with nearly 139,000 mobile hotspots that act as miniature cell towers, according to data from the Helium website, and has been used by providers like AT&T and Telefonica to extend or fill gaps in their coverage networks.
It's this opportunity that is most pressing for Nova Labs, the firm that founded the Helium network and launched the Helium Mobile service.
“Our network business is the largest opportunity in front of us,” said Mong. “We've recently onboarded major U.S. carriers to offload traffic at scale and the Helium network now serves millions of users daily. To capture this momentum, we needed to find Helium Mobile the right steward while our team focuses on accelerating network expansion.”
The acquisition does nothing to change the Helium network’s model, which offers a Solana-based HNT token to hotspot operators who provide coverage used by carriers and subscribers. The mobile network boasts more than 2.6 million daily users and is generating more than $47,000 per day in revenue according to Helium World’s dashboard.
HNT is down nearly 7% over the last day at a recent price of $0.64, pushing its 30-day drop to about 28%.
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Helium Mobile has been acquired by Noble Mobile, a U.S.-based telecom startup founded by former presidential candidate Andrew Yang, while the Helium Network and its native HNT token have remained under existing operational structures.
Summary
Noble Mobile has acquired Helium Mobile, while Nova Labs says the Helium Network and HNT token operations remain unchanged. Helium’s network continues to burn roughly $50,000 in data credits daily, with Blockworks data showing a 7-day HNT deflation rate of 9.72%. HNT remains under technical pressure after breaking below a falling wedge pattern, with support near $0.60 and resistance between $0.65 and $0.70. According to announcements from both companies, Noble Mobile has taken control of Helium Mobile’s wireless service business, gaining access to an existing subscriber base and a network relationship that allows traffic to be routed through Helium’s decentralized wireless infrastructure.
The transaction has generated debate among community members, with some users questioning whether a decentralized project could effectively be sold.
Nova Labs and Helium executives have since clarified that the deal covers only Helium Mobile, a consumer-facing service, and does not include ownership of the Helium Network itself.
Noble Mobile currently operates by leasing spectrum from T-Mobile. Through the acquisition, the company has committed to using connectivity provided by the Helium Network, which relies on more than 138,900 community-operated hotspots to deliver wireless coverage.
Data cited by Blockworks shows the Helium ecosystem burns roughly $50,000 worth of data credits each day. Because data credits are created by burning HNT, continued network usage contributes to token demand through Helium’s mint-and-burn economic model. Additional data from the platform also indicates the token’s rolling seven-day deflation rate stands at 9.72%.
Source: Blockworks The acquisition has not changed Helium Network operations Community concerns intensified shortly after the announcement, prompting Helium co-founder Amir Haleem to explain the distinction between Helium Mobile and the Helium Network.
Haleem stated that the decentralized network remains under Nova Labs’ stewardship and will continue operating as before. Hotspot operators are still expected to earn HNT rewards for providing coverage and data transfer services that can be used by telecom providers, including large carriers such as AT&T.
For existing Helium Mobile subscribers, the transition is not expected to bring immediate service disruptions. Company guidance states that customers can retain their current phone numbers and continue using the service without changes during the migration process.
Pricing remains one area where uncertainty persists. While Helium Mobile’s published FAQ states that affordability will remain a priority, the company said future pricing details will be communicated as the transition progresses.
HNT price remains under pressure despite network demand growth Market reaction to the acquisition has been relatively muted. Helium (HNT) gained roughly 1.7% over the past 24 hours, though the token continues to trade within a longer-term downtrend.
Helium price has broken down from a falling wedge pattern on the daily chart — June 4 | Source: crypto.news Technical analysis of the daily chart shows HNT recently broke below the lower boundary of a falling wedge pattern that had been developing since February. While falling wedges often resolve to the upside, the bearish breakdown suggests sellers remain in control of price action.
Momentum indicators continue to support that view. The MACD remains below its signal line with negative histogram readings, indicating persistent downside momentum. Meanwhile, the Aroon indicator shows Aroon Down at 100% and Aroon Up at 0%, a configuration that typically signals a strong bearish trend.
The breakdown has pushed HNT toward support near $0.60. If that level fails to hold, traders may begin watching the psychological $0.50 area as the next major downside target.
On the upside, the former wedge support between $0.65 and $0.70 now acts as the first resistance zone that bulls would need to reclaim to improve the technical outlook.
Despite continued growth in network usage and data credit burns, the chart suggests traders remain cautious as HNT searches for a stable bottom.
Just one week after the acquisition of its consumer brand, Helium Mobile, at the hands of Andrew Yang, Helium Network is going through some growing pains.
$HNT holders and community members are firmly at odds with the Solana DePIN protocol’s new direction, summarized by a four-part governance proposal.
Making matters worse, $HNT has plummeted over 56% in the past week. Existing holders are in disagreement with the Network’s new direction and the proposed mint of 141M new $HNT tokens.
Helium’s “New Era” Met with Skepticism from $HNT Holders Helium Network has come under fire from community members and token holders over a drastic economic and organizational overhaul floated in the protocol’s latest governance proposal, HIP-149. Originally published on June 4th, HIP-149 centers around four key changes that aim to support the DePIN protocol’s ongoing expansion:
Set a floor for deployer earnings
Capitalize operations and growth through the mint of 141M $HNT tokens over 36 months
Establish a 7-seat advisory council, with 5 community-elected representatives
Transition $HNT rewards to an activity-based system, rather than a flat rate for all providers
Helium Network argues that the change is economically necessary to the survival and growth of the network. In Helium’s own words, the network’s “original economic framework was built for a faster carrier-adoption curve than reality delivered”.
As a result, hotspot deployers were earning more than what carriers were actually paying for data transfer and offload services, meaning that significant adjustments need to be made to the network's model.
The proposal has been met with concern and frustration by $HNT tokenholders and network contributors. Upon the realization that the Helium Network was subsidizing hotspot operation, critics have argued that the protocol was artificially inflating and misreporting its revenue.
Others have argued that the mint of 141M new $HNT tokens to support growth and expansion is unjustifiably dilutive to existing network contributors. Given $HNT’s current circulating supply of 182.4M, the proposed mint would increase the number of tokens in circulation by 77.3%.
Departing Helium Team Members Weigh In With critics and detractors slamming the proposal and disappointed supporters writing off the network’s future, former Helium executives have added some color to the debate. Abhay Kumar posited that shedding the economic weight of the network’s consumer brand, Helium Mobile, removes “a real cost off the books, which is good for the network and for the focus of the core team.”
Former Helium Protocol Engineer Noah Prince reinforced Kumar’s position, arguing that Helium sits at a critical inflection point and comparing the current proposal to Uber’s decision to wind down its $3 uberPOOL offering.
Prince asserts that while Helium has found PMF, the engineer acknowledges that “the age of subsidy is over”. Both Prince and Kumar expressed confidence in Helium’s new CEO Mario Di Dio, vouching for his ability to guide Helium through its next stage of growth and building on the foundation set by founder and former CEO Amir Haleem.
$HNT Down 56% in 7D Following Helium Mobile Acquisition Despite the vote of confidence from departing executive team members, markets are not looking favorably upon Helium Network. Between Noble Mobile’s acquisition of Helium Mobile, the reshuffling of personnel, and the outstanding governance proposal threatening to increase supply by 77%, $HNT has plummeted 53% in the last 7 days.
Meanwhile, some $HNT whale wallets are aggressively exiting their positions. After receiving 2.2M $HNT tokens on June 9, this wallet has already unloaded 900,000 $HNT on the market.
Outside of ongoing sales through Jupiter DCA, the wallet still holds 1.3M $HNT, currently valued at $412,000.
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Horizen spustil mainnet na platformě Caldera a do ekosystému přináší soukromí jako klíčovou funkci. Díky interoperabilitě mohou vývojáři nasazovat privátní aplikace napříč řetězci.
In our previous announcement, we shared how Horizen was preparing to bring privacy-preserving infrastructure to Caldera through a dedicated appchain built with the Rollup Engine. Today, that moment has arrived: Horizen’s mainnet is officially live. This launch isn’t just another chain going live. It’s the introduction of privacy as a first-class primitive into the Caldera ecosystem — a capability that unlocks entirely new categories of onchain applications, use cases, and cross-chain interactions. Horizen is now the privacy backbone of the Internet of Chains.
Why Privacy Matters for the Next Phase of Web3Public blockchains have made data verifiable, but not private. Everything — user behavior, business logic, transaction intent — is exposed. For consumer applications, enterprise adoption, and AI-driven systems, this is a structural barrier. Horizen solves this by providing configurable, end-to-end privacy infrastructure. Its mainnet combines:
Zero-knowledge capabilities for proving facts without revealing sensitive information
Selective disclosure so users and enterprises choose what to reveal
Compliance-aware architecture that preserves auditability while keeping data confidential
Full EVM compatibility, meaning builders can use standard tooling while gaining advanced privacy protections
This transforms privacy from an afterthought into a programmable feature of the chain itself. And now, thanks to Caldera, that privacy becomes interoperable.
A Privacy Chain Inside the Internet of ChainsHorizen’s mainnet joins a growing network of specialized rollups built on the Caldera Metalayer. But Horizen contributes something unique: privacy as a shared capability across the entire ecosystem. This unlocks a host of cross-chain possibilities:
Confidential DeFi Across ChainsOther Metalayer-connected L2s can route sensitive transactions through Horizen for private order flow, compliance checks, or selective verification.
Private Identity & Reputation for Every AppchainGaming rollups can use Horizen to hold private player profiles. Social rollups can keep user graphs confidential but provable. Enterprise chains can integrate KYB/KYC without leaking user data.
Privacy for AI-Enabled ApplicationsAI systems require verifiable yet private datasets. Horizen provides the confidentiality layer while Caldera provides the interoperability, allowing AI agents to operate across chains without compromising sensitive information.
How the Metalayer Multiplies Horizen’s ImpactHorizen chose Caldera partly to ensure its privacy stack wasn’t isolated. With mainnet live:
ZEN becomes universally accessible through Metatoken and the Metalayer
Attestations, proofs, and confidential data flows can move across chains
Developers building on any Caldera chain can instantly deploy private components by calling into Horizen
This accelerates the ecosystem flywheel:
New chains launch →
They integrate Horizen’s privacy features →
Users and liquidity flow across the network →
More developers build →
More chains join →
Horizen grows as the privacy hub
With mainnet live, developers can begin deploying privacy-preserving applications that simply aren’t possible on transparent chains. Users can access these applications using standard Ethereum wallets, such as Metamask.
Developers and users alike can get started by visiting https://horizen.hub.caldera.xyz.
The Privacy Era of the Internet of Chains BeginsThis launch marks a pivotal expansion of Caldera’s vision: a world where specialized chains form a unified, interoperable network — and where privacy is a core building block, not an optional add-on. Horizen’s mainnet is now live. Its privacy infrastructure is now interoperable. And the Caldera ecosystem is stronger, more capable, and more composable than ever. Congratulations to the Horizen team on reaching this milestone. We’re proud to partner with them in building the next generation of confidential, interconnected blockchain systems.
Horizen v roce 2025 úspěšně migroval ZEN na Base a spustil novou EVM-native, privacy-enabled síť vrstvy 3. Tím se přesunul do ekosystému Ethereum a otevřel cestu k likviditě, DeFi integracím i novým aplikacím.
In 2025, Horizen made the decisions that define long-term relevance. The team clarified what privacy must mean in an onchain world, sharpened who Horizen is built for, and aligned the network around real users, real businesses, and real developers - not abstract ideals. These choices shaped everything that followed, from product direction to ecosystem design, and set the foundation for sustainable growth.
The results of that work became visible toward the end of the year, with milestones that mark the beginning of Horizen’s next chapter.
A major emphasis was placed on research and discovery. Throughout the year, the team developed a structured understanding of market dynamics, emerging privacy technologies, regulatory realities, competitive approaches, developer needs, and real-world user needs. This targeted work was designed to answer one question:
Where can Horizen win, and why?
That research-driven approach created clarity and alignment across product, engineering, and ecosystem growth. It sharpened Horizen’s positioning around practical and regulatory-compliant privacy, and clarified how privacy must function inside open ecosystems like Ethereum and Base, not outside of them.
Several initiatives that will define Horizen’s future were born from this approach, including initial product designs like Horizen Confidential Compute Environment (HCCE).
By choosing to prepare deliberately, Horizen entered mainnet not as a project searching for relevance, but as a network launching with purpose.
One of the most significant milestones in Horizen’s history took place in 2025 with the successful migration of the ZEN token to Base, accompanied by the introduction of a new tokenomics model designed to support Horizen’s next phase of growth.
This migration marked a strategic shift in how Horizen participates in the broader onchain ecosystem. By migrating ZEN to an ERC-20 asset on Base, Horizen moved from operating as an isolated Layer 1 to becoming a first-class participant in the Ethereum ecosystem. The migration unlocked immediate access to deep liquidity, native DeFi integrations, and composability with the tools, protocols, and capital that developers already use. More importantly, it removed friction for builders, creating a faster and more credible path from idea to live application.
Just as importantly, the transition was executed with ZEN holders front and center. Horizen delivered a seamless, user-friendly claiming experience that enabled holders to move their assets safely to Base with confidence.
Throughout the migration, the team worked closely with major exchanges to ensure uninterrupted access to ZEN, preserving liquidity and minimizing disruption for the community. This combination of thoughtful execution and broad exchange support ensured continuity, accessibility, and trust at a critical moment of change.
Together, these efforts laid the economic and infrastructural foundation for Horizen’s next phase of ecosystem growth, one that is fully embedded in the Ethereum and Base environments, without leaving its community behind.
That foundation was completed with the launch of the new Horizen chain at the end of the year. With this launch, Horizen finalized its transition to a fully EVM-native, privacy-enabled Layer 3 blockchain on Base.
By launching on Base, Horizen positioned privacy where it matters most: alongside deep liquidity, mature tooling, and a rapidly growing developer and user base. The new chain will enable a practical and compliance-friendly path to private onchain activity, allowing users and businesses to participate without exposing sensitive strategies, positions, or data. Rather than treating privacy as an add-on or an edge case, Horizen established it as a foundational capability that works natively within real onchain workflows.
The launch also introduced the first cohort of ecosystem applications and infrastructure partners, reinforcing Horizen’s focus on execution, composability, and ecosystem readiness from day one.
We’re live!
Join us as we celebrate Horizen’s mainnet launch on @Base. Tune in to hear from special guests and core team members as they share insights on what’s ahead.
x.com/i/broadcasts/1…
Most importantly, the mainnet launch marked a clear transition in Horizen’s trajectory. The network moved from preparation to participation, from laying foundations to enabling real usage. With the core infrastructure live, Horizen is now positioned to shift its focus toward growing adoption, supporting builders, expanding the ecosystem, and delivering the next wave of privacy-enhancing capabilities, including staking and confidential compute.
In parallel with these significant infrastructure milestones, Horizen launched the Thrive Builder Program in 2025, establishing Horizen’s long-term commitment to ecosystem growth.
First announcements from our Horizen x @thriveprotocol builder funding program drop next week
These aren’t just ideas - they’re applications already building on our infrastructure
The privacy-first builders we’ve been waiting for are here.
Backed by a community-approved allocation of one million ZEN over five years, the program established a structured path for builders to ship privacy-preserving applications that drive real ZEN usage.
The program introduced milestone-based funding accountability and transparent oversight while prioritizing high-impact use cases across DeFi AI gaming and governance.
Meet the first builders funded by the Horizen x @ThriveProtocol Builder Funding Program:
- @LighterIM - ZK-enabled DeOTC protocol for private, compliant OTC trading
- @datahubz - Automated compliance workflows (SOC 2, ISO 27001, HIPAA) powered by Hubz
- @tachyonpe -
Together, the program and the new Horizen chain create a reinforcing loop: infrastructure designed for privacy-aligned applications, paired with a funding mechanism built to bring them to life. The program is already supporting a growing set of live and in-development applications, including:
Zendex as a private DEX designed to stop MEV bots from front running trades
Tachyon enabling cross chain transfers that break the surveillance trail
DataHubz delivering enterprise compliance through cryptographic proof instead of trust based audits
Nyra bringing private perpetuals trading onchain
Obscura powering social trading with verifiable PnL
Lighter.IM enabling ZKP based on and off ramps
AdPriva building verifiable ad engagement with zero knowledge proofs
Gamblor introducing provably fair gaming with privacy built into every hand
Learn more about the program
Further Supporting Builders and the ZK EcosystemThroughout 2025, Horizen hosted and supported a select number of workshops and hackathon-style events, in collaboration with the ecosystem partners such as zkVerify. These efforts focused on education, experimentation, and early developer engagement.
Notable activations included:
Fhenix
ETHDenver participation through SporkDAO
SocialConnect New Delhi
0xCairo
Berlin Hackathon
The Horizen community voted in on 7 ZenIPs (ZEN Improvement Proposals) in 2025, including:
ZenIP 42406 Addendum: Proposing a Bold Leap Forward to Base for $ZEN and EON – 99.7% in favor
ZenIP 42410 Horizen Developer Grants Program - Thrive Partnership – 100% in favor
ZenIP 42411: A Treasury Management Framework for Horizen DAO – 100% in favor
Exchange Listings and Marketing Allocation – 99.2% in favor
The community also voted to elect new Special Council members to maintain strong governance and continuity throughout the year.
March Cohort Special Council Election
September Cohort Special Council Election
Check out all ZEP IPs and their details.
With the core network live and ecosystem taking shape, Horizen enters its next phase focused on deepening utility, expanding adoption, and delivering privacy capabilities that scales with real-world demand.
A major milestone on the near-term horizons is the release of the Horizen Confidential Compute Environment (HCCE). Designed to make privacy-preserving computation accessible without complex cryptography, HCCE introduces a powerful new execution layer that enables developers to run sensitive logic securely and verifiably onchain. This will unlock a broad class of applications, from institutional workflows to privacy-sensitive business use cases. This will mark a significant step forward in making privacy practical at scale. Read the HCCE whitepaper to learn more.
ZEN staking will be relaunched in Q1 2026, re-establishing a crucial participation and incentive mechanism for the Horizen community.
The ZEN staking is designed to strengthen network security, reward long-term participation, and reinforce ZEN’s role as the economic backbone of the Horizen ecosystem. This will turn passive holding to active engagement, tying network growth more closely to community involvement.
At the same time, the Horizen ecosystem will continue to expand. More new applications are preparing to go live across DeFi, business infrastructure, gaming, and emerging onchain categories. As more teams deploy and iterate, Horizon’s ecosystem will move from early formation to sustained momentum, driven by real usage and real demand for privacy-enabled execution.
Together, these developments signal a clear shift in Horizen’s trajectory. With infrastructure in place, aligned incentives coming online, and a growing pipeline of applications, Horizen is positioned to turn its vision of practical, compliant privacy into durable, onchain reality.
Klaytn token KLAY is now available for trading on Coins.ph, the Philippines’ largest crypto exchange. The exchange has added support for KLAY/PHP. Klaytn (KLAY) is now listed on Coins.ph, the largest crypto exchange in the Philippines.
The blockchain network for the metaverse, GameFi and the creator economy announced the major news on Tuesday. It noted that the native Klaytn token KLAY is now available for trading on the Bangko Sentral ng Pilipinas (BSP)-licensed crypto exchange.
BSP is the Philippines’ central bank.
🚀 Exciting news! 🎉 $KLAY lands on the largest exchange in the Philippines, @coinsph🇵🇭
Filipinos and @coinsph users, seize the opportunity to trade now! https://t.co/GfJzR8x46b
Join us as #Klaytn expands across Asia and beyond🚀 https://t.co/ESYKZqXLop
— Klaytn (@klaytn_official) April 30, 2024
Klaytn launched in 2019 and is one of the leading blockchain platforms in South Korea.
Coins.ph’s listing of KLAY means Filipinos now have a chance to trade one of the tokens underpinning a growing ecosystem in the metaverse and blockchain gaming market.
KLAY price outlook Following the crypto exchange listing, KLAY is available in the KLAY/PHP trading pair. The listing adds to Klaytn’s availability on major exchanges that include Binance, OKX, Bitget and Crypto.com.
The price of KLAY was $0.17 at the time of writing, down 7% in the past 24 hours and -33% in the past month. KLAY has declined nearly 50% since surging well above $0.32 in early 2024 amid news of the blockchain network’s merger with Finschia (formerly LINE blockchain).
Klaytn price reached an all-time high of $4.34 in March 2021, which puts the current prices more than 90% off those highs.
Klaytn a Finschia se sloučily do sítě Kaia, která po spuštění hlavní sítě cílí na dApps v rámci aplikací Line a KakaoTalk. Kaia podporuje EVM smart kontrakty a tvrdí, že má jednosekundové bloky.
Kaia aims to compete with The Open Network by powering dApps on the Line and Kakao messaging applications.
The booming web3 ecosystem on Telegram and The Open network could soon face competition.
On Aug. 29, Kaia completed the mainnet deployment of its Layer 1 network following a merge between Finschia, the blockchain from Line, a popular Japanese messaging app, and Klaytn, a network backed by Kakao, a Korean messaging platform.
Kaia supports Ethereum Virtual Machine (EVM) smart contracts and claims one-second block times. Kaia aims to foster an ecosystem of mini-decentralized applications (DApps) on the Line and KakaoTalk platforms.
“The Kaia mainnet launch marks a crucial first step in expanding the Asian Web3 ecosystem and will serve as a significant catalyst for Line Next’s global business,” said Young-su Ko, CEO of Line Next. “Through the Kaia Wave project, Line Next will focus on delivering a more efficient Web3 platform for builders and improving accessibility and convenience for users.”
TON competitorThe project draws inspiration from the meteoric rise of The Open Network (TON), which emerged as 2024’s fastest-growing blockchain after integrating with Telegram, the popular encrypted messaging application, in September 2023. TON’s total value locked (TVL) increased 10,000% from August 2023 to tag an all-time high of $1.144 billion five weeks ago. TON’s TVL has since tumbled 47% to $610 million.
TON’s growth was propelled by the success of Telegram Mini Apps (TMA). Hamster Kombat, one of the largest TAMs, boasts a user base of 80 million players. Notcoin (NOT), the token issued by another leading TMA, boasts a market cap of $900 million after going live in May.
“Inspired by the success of TON, we aim to integrate with messengers first, leveraging their role as super apps,”said Aidan Kwon, head of the Klaytn Foundation. “Unlike anonymous-focused platforms, our messenger apps offer expansive service integration opportunities.”
Kaia launched a software development kit (SDK) allowing developers to create and launch mini dApps directly within the Line messenger app. Line and Kakao boast a combined user base of over 250 million.
Chain mergeIn January, Klaytn and Finschia proposed merging their networks in a bid to create “the largest web3 network in Asia.” The proposal passed on Feb. 15, garnering 95% support from Finschia's community and 90% from Klaytn.
“Post-merge, Klaytn’sDeFi and gaming services and Finschia’sNFT, payment, and AI services will come together to create a massive ecosystem of 420+ dApps and services,”the Klaytn Foundation said.
Klaytn launched in June 2019 and quickly emerged as a top network among South Korean users. According to DappRadar’s2023 report, Klaytn ranked among the top 10 blockchains by users in 2021 after growing 1,100% to 873,000. Kgken, a move-to-earn app, ranks as the most popular Klatyn-based dApps of the past 30 days with 743,000 users, followed by Superwalk with 50,700, and Iskra with 45,000.
Finschia has also attracted a significant user base since launching in 2018. Finschia’stop dApp, DOSI, an NFT platform, has garnered 5.6 million cumulative users and facilitated more than 530,000 NFT transactions all-time.
Klaytn’sKLAY token currently ranks as the 76th largest cryptocurrency with a $1B market cap, according to CoinGecko. Finschia'sFNSA ranks 310th with a capitalization of $151.2 million.
Kaia said it will merge KLAY and FNSA and introduce new tokenomics.
Read More: TON Ventures Spins Out Of TON Foundation After $40 Million Raise
Bývalý CEO SafeMoon Braden John Karony dostal 8 let vězení za podvod na investorech. Soud mu zároveň nařídil propadnutí 7,5 milionu USD a dvou rezidencí.
The ex-CEO of SafeMoon faces 100 months behind bars after a sentencing on Tuesday. Braden John Karony and his cohorts were accused and convicted of taking millions from their crypto operation for their own gain, including spending to support lavish lifestyles. Former SafeMoon CEO Braden John Karony will face an 8-year prison sentence after being convicted last year on a string of federal charges tied to defrauding investors in his digital assets operation.
The 100-month sentence was handed down Tuesday in U.S. District Court for the Eastern District of New York, and Karony must also forfeit $7.5 million and two residences in the case.
“Karony lied to investors from all walks of life — including military veterans and hard-working Americans — and defrauded thousands of victims in order to buy mansions, sports cars, and custom trucks,” stated United States Attorney Nocella, in a statement. “Our office will continue to vigorously prosecute economic crimes that harm investors and weaken societal trust in the stability and security of digital asset markets.”
Karony was said to have participated in manipulating the price of the SafeMoon token and illicitly controlling liquidity pools in the failed Utah-based company to drain millions of dollars, according to the Department of Justice. After a three-week trial, he was convicted of conspiracy to commit securities fraud, wire fraud, and money laundering.
Bývalý CEO SafeMoon John Karony dostal v New Yorku trest 100 měsíců vězení za podvod. Sam Bankman-Fried mezitím podal návrh na nový proces v kauze FTX.
Two of the most prominent crypto fraud cases in the U.S. courts moved in different directions today, 10 February.
In one case, the former chief executive of SafeMoon received a prison sentence following conviction. In another, Sam Bankman-Fried, the former head of collapsed exchange FTX, filed a fresh bid seeking to reopen his case.
SafeMoon CEO sentenced after victim testimony A federal judge in New York sentenced John Karony, the former CEO of SafeMoon, to 100 months in prison, according to courtroom reporting by Inner City Press.
During the sentencing hearing, multiple victims described how they invested in SafeMoon after being reassured by Karony’s public statements and personal engagement with the community.
Several said the losses reshaped their financial futures, preventing home purchases and affecting education plans.
U.S. prosecutors sought a 12-year sentence, arguing Karony deliberately misled investors and showed no remorse. The defense cited his age and background to mitigate the punishment.
The judge rejected those arguments, describing the scheme as “a massive fraud” and stating it was “more like theft than fraud,” emphasizing that investors had been explicitly assured there would be no rug pull.
The sentence marks a final chapter in one of the most widely followed cases to reach U.S. courts.
SBF files long-shot motion for new trial In a separate development, Bankman-Fried filed a pro se motion seeking a new trial on his FTX fraud conviction, according to Bloomberg.
The filing, dated 5 February and docketed Tuesday in Manhattan federal court, argues that new witness testimony could undermine the government’s case.
The request is separate from Bankman-Fried’s formal appeal. It comes after a federal appeals court rejected his attempt to secure release while that appeal is pending.
The Second Circuit ruled in December that he had not demonstrated a substantial likelihood of success.
Bankman-Fried was convicted in November 2023 on seven counts of fraud and conspiracy and sentenced in March 2024 to 25 years in prison.
Prosecutors said he misappropriated billions of dollars in FTX customer funds to support risky trading at Alameda Research, political donations, and luxury real estate purchases.
Cases enter different phases Together, the two developments highlight how high-profile crypto prosecutions are diverging in 2026.
While the SafeMoon case has reached sentencing, delivering closure for victims, the FTX case continues to generate procedural filings as its former executive pursues post-conviction relief.
Final Thoughts The SafeMoon sentencing reflects courts moving toward final judgments in retail-focused crypto fraud cases. Bankman-Fried’s filing underscores how larger cases can remain active for years through appeals and post-conviction motions.
Stacks zveřejnil whitepaper k Bitcoin Stakingu, který má umožnit držitelům BTC získávat výnos v BTC bez bridge, wrapování nebo ztráty úschovy. Mechanismus navazuje na PoX, který od roku 2021 vyplatil přes 4 200 BTC.
Proposed protocol upgrade extends Stacks' live Proof-of-Transfer mechanism to let BTC holders earn native Bitcoin yield without bridging, wrapping, or surrendering custody.
Stacks Labs today published a whitepaper outlining the first self-custodial Bitcoin Staking mechanism generating Bitcoin-native yield. The whitepaper details a proposed upgrade to Stacks’ existing Proof-of-Transfer (PoX) consensus mechanism that enables BTC holders to earn Bitcoin-denominated yield while their Bitcoin remains locked on the L1 under their own keys.
The whitepaper addresses a fundamental gap in the market: Bitcoin represents over $1.3 trillion in idle capital, yet BTC holders have had no path to earn Bitcoin yield on that capital without bridging to another chain, wrapping their BTC, or handing custody to a centralized lender. Existing approaches, including restaking protocols that require moving BTC off L1 or rely on intermediary trust assumptions, leave holders exposed to risks Bitcoin was designed to eliminate. Stacks’ Bitcoin Staking mechanism is the first mechanism where BTC stays on Bitcoin, under the holder's own keys, while generating native Bitcoin yield. The publication follows last week’s launch of the Stacks 2026 roadmap (stacks.co/roadmap), which laid out a three-phase plan for building Bitcoin-native finance. Bitcoin Staking is Phase 1 of that plan: the mechanism that anchors long-term BTC capital on-chain and establishes the economic foundation for the phases that follow, including a 100x throughput increase and a full suite of Bitcoin-native lending, borrowing, and programmable capital products.
The mechanism builds directly on PoX, which has operated in production since January 2021 and distributed more than 4,200 BTC in stacking rewards to date. Bitcoin Staking extends this existing infrastructure.
How It Works
Under Bitcoin Staking, participants form “protocol bonds” where participants pair a BTC timelock on Bitcoin with a corresponding STX lock on Stacks for a 6-month bonding period, targeting a fixed yield subject to the risks inherent to the protocol. The BTC remains on the Bitcoin blockchain, secured by Bitcoin consensus, under participant-controlled keys for the full bonding period.
BTC yield is generated the same way it is today under PoX: Stacks miners bid BTC to compete for STX block rewards and transaction fees. That miner-paid BTC is distributed to eligible participants. Bitcoin Staking changes who is eligible and how rewards are prioritized, not how they are generated.
Bitcoin Staking distributes PoX rewards according to a waterfall structure. Paired BTC-plus-STX positions form the primary tranche and receive the target yield rate for their respective bonds. After protocol bond obligations are met, excess miner revenue is split between STX-only stakers and a reserve fund that buffers payouts when miner revenue falls short.
Phased Rollout
The whitepaper proposes Bitcoin Staking launches in two phases. The first, PoX-5, is a managed bootstrap period expected to run approximately 12 months. During this phase, Stacks Endowment sets capacity and yield parameters and intends to work with a set of institutional partners who have been onboarded ahead of launch. Initial program conditions target 3,000 BTC in capacity at a 3% BTC APY with a 5% minimum STX pairing ratio. Partner onboarding for the bootstrap phase is underway; interested institutions can contact Stacks Endowment directly.
During the bootstrap phase, Bitcoin Staking will progressively decentralize, eventually transitioning to PoX-6, a permissionless consensus-encoded operation. In this phase, a permissionless sealed-bid clearing auction determines capacity allocation while yield rates, and ratio requirements are determined on-chain from miner economics, reserve fund status, and prior-period participation data. This phase is the fully decentralized end state described in the whitepaper.
Both phases require community governance approval through the Stacks Improvement Proposal (SIP) process.
Participation Paths
BTC holders can pair native Bitcoin, timelocked on L1, with STX for full protocol bond participation. sBTC holders, the Bitcoin-backed asset on Stacks, can pair sBTC with STX through L2 smart contracts, enabling pooled participation and DeFi integrations. STX holders can stake without any Bitcoin commitment and receive residual yield as the third tranche of the waterfall. Pooled participation options exist across all paths for smaller holders.
"Bitcoin is the world's most trusted asset precisely because of its design and safety principles on the L1. Bitcoin Staking changes the calculus; holders can now earn yield denominated in BTC, trustlessly, while their Bitcoin stays exactly where it belongs. This whitepaper is the culmination of years of protocol-level work to make Bitcoin programmable without compromising what makes it Bitcoin." — Muneeb Ali, Founder, Stacks.
“Bitcoin holders have been waiting for a way to put their capital to work without giving it up. What we’ve built on Stacks has already distributed over 4,200 BTC in real yield since 2021. Bitcoin Staking takes that proven infrastructure and makes BTC itself the yield-bearing asset, under the holder’s own keys, on Bitcoin. The whitepaper is the technical specification for Phase 1 of what we laid out in the roadmap last week — and the institutional partners we’ve been working with are ready to move.” — Alex Miller, CEO, Stacks Labs.
Availability
The full Bitcoin Staking whitepaper is available today here. The Stacks 2026 roadmap, which provides the broader context for Bitcoin Staking as Phase 1 of the network’s development plan, is available at stacks.co/roadmap. Community discussion and the SIP governance process will follow publication. Technical specifications, implementation documentation, and partner onboarding details will be published in subsequent releases. Institutions interested in participating in the PoX-5 bootstrap program should contact Stacks Endowment at [email protected].
About Stacks
Stacks is the leading Bitcoin layer by BTC deployed, providing infrastructure for a growing range of Bitcoin-native applications. The network enables Bitcoin-native financial applications, from lending and borrowing to autonomous AI agents, all settled with Bitcoin finality. Users can learn more at stacks.co.
Strive koupila dalších 382 BTC za zhruba 30,3 milionu USD a zvýšila své držení na 15 391 BTC. Firma tak patří mezi největší veřejné korporátní držitele Bitcoinu.
Strive, Inc. (Nasdaq: ASST) has acquired an additional 382 bitcoin for approximately $30.3 million, paying an average cost of roughly $79,348 per coin, according to an 8-K filing with the U.S. Securities and Exchange Commission.
The purchase, executed between May 13 and May 18, lifts the Dallas-based Bitcoin treasury and asset management firm’s total holdings to 15,391 BTC — cementing its status as one of the largest public corporate holders of the digital asset.
The latest accumulation adds to a relentless buying streak that has seen Strive grow its treasury by more than 2,200 BTC since January 2026, when the company held 12,798 BTC following its acquisition of Semler Scientific.
The pace has accelerated markedly: in late April, Strive purchased 789 BTC for roughly $61.4 million at an average price of $77,890 per coin, and just weeks later added 444 BTC for $33.9 million at $76,307 per coin, crossing the 15,000 BTC threshold for the first time.
Strive’s bitcoin strategy Alongside the latest purchase, Strive disclosed updated performance figures that underscore its unique approach to capital allocation. The company reported a quarter-to-date BTC Yield of 6.6% and a year-to-date BTC Yield of 18.4% — a proprietary metric that measures the percentage growth of Bitcoin exposure per common share over time, rather than simply the appreciation of BTC’s price.
The firm’s amplification ratio, a measure of how leveraged its Bitcoin exposure is relative to market value of holdings, stands at 44.3%.
That amplification ratio has grown steadily. When Strive held 13,132 BTC in January, its amplification ratio stood at 37.2%, predominantly driven by preferred equity rather than traditional debt. The expansion to 44.3% reflects continued SATA preferred stock issuances, which the company has used to fund Bitcoin purchases without diluting common shareholders in the conventional sense.
Strive also disclosed approximately $87.3 million in cash and cash equivalents, alongside a $49.8 million position in Strategy Inc.’s Variable Rate Series A Perpetual Stretch Preferred Stock (STRC). The company, led by Chairman and CEO Matt Cole, describes Bitcoin as its “hurdle rate” for all capital deployment decisions — framing every acquisition not merely as a treasury move but as a benchmark for long-term shareholder value.
At current market prices, Strive’s 15,391 BTC treasury carries a value approaching $1.2 billion, ranking the firm among the top corporate holders of Bitcoin globally.
Earlier this week, Strive Inc. announced that its SATA preferred stock will become the first U.S.-listed security to pay cash dividends every business day starting June 16, with daily compounding lifting its effective yield to about 13.88%.
The firm also reported a $265.9 million Q1 net loss driven largely by Bitcoin valuation declines, while expanding its holdings to 15,009 BTC and maintaining a debt-free balance sheet, as CEO Matthew Cole positioned the move as a “zero-to-one innovation.”
Micah Zimmerman
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
UTXO Management patří mezi první institucionální účastníky bitcoinového stakingu na Stacks a chce získávat výnos v BTC bez ztráty self-custody. Cílový výnos protokolu je téměř 3 % ročně.
Bitcoin-native asset management company UTXO Management has become one of the first institutional participants in Bitcoin Staking on the Stacks network, marking a notable shift in how corporate Bitcoin holdings may be used.
The initiative introduces a structure that allows institutions to earn bitcoin-denominated yield without transferring custody or moving assets off the Bitcoin base layer.
For treasury managers holding large BTC reserves, the model presents a new option that preserves core Bitcoin properties while addressing rising pressure to generate returns.
Bitcoin Staking on Stacks requires participants to lock BTC in a Bitcoin timelock alongside a smaller allocation of STX, the Stacks network’s native token, in what the protocol defines as a “protocol bond.”
The BTC remains under the participant’s control throughout the process, while the STX component determines the scale of participation in the system. The initial bonding period is set at six months.
The yield target for the protocol is near 3% annual percentage yield, paid in bitcoin. Unlike lending-based models, the return does not rely on counterparty borrowing. Instead, it is derived from Stacks’ Proof-of-Transfer consensus mechanism.
Under this model, miners bid BTC to secure the right to produce blocks on the Stacks network, and that BTC is distributed to eligible participants, including those engaged in Bitcoin Staking.
Proof-of-Transfer has operated for several years and has distributed more than 4,200 BTC since 2021. Bitcoin Staking builds on this framework, extending its reward structure to a broader class of participants.
The protocol is expected to reach mainnet later this summer, opening with an initial bootstrapping phase managed by the Stacks Endowment.
Staking tradeoffs as bitcoin gains traction The model introduces trade-offs that institutions must evaluate. Participants must hold STX equal to about 5% of the BTC position, which creates exposure to a second asset. The bonded BTC remains illiquid during the lockup period, though an early exit option exists for the BTC portion. Yield levels depend on network dynamics, including miner demand and STX market conditions, which introduces variability.
Despite these factors, UTXO’s participation signals growing institutional interest in productive Bitcoin strategies that maintain self-custody.
The structure avoids lending desks and synthetic wrappers, both of which require relinquishing some control or altering the nature of the underlying asset.
Corporate Bitcoin treasuries have expanded in recent years. The top 100 companies now hold more than 1.2 million BTC, representing about 5% of total supply.
Executives see Bitcoin Staking as a response to that scrutiny. Tyler Evans, Chief Investment Officer of Nakamoto and UTXO, described the model as a way to generate yield while preserving Bitcoin’s settlement and custody features.
Stacks founder Muneeb Ali framed the development as a step toward transforming idle Bitcoin into productive capital within a secure framework.
Disclaimer: Bitcoin Magazine is published by BTC Inc, a subsidiary of Nakamoto Inc. UTXO Management is also a subsidiary of Nakamoto Inc. (NASDAQ: NAKA)
Micah Zimmerman
Micah first discovered Bitcoin in 2018 but remained a skeptic on the sidelines for too long. Since 2021, he has covered crypto and business and now works as a news reporter for Bitcoin Magazine, based in North Carolina.
Fireblocks integroval síť Stacks a otevřel Bitcoin DeFi více než 2 400 institucionálním klientům. Získají podporu úschovy STX i možnost mintovat a bridgeovat sBTC.
Fireblocks, the institutional crypto infrastructure platform that processes more than $5 trillion in digital asset transfers annually, has integrated the Stacks Bitcoin Layer 2 network. The move opens Bitcoin DeFi services to more than 2,400 institutional clients who previously had no streamlined way to access them.
The Fireblocks-Stacks integration covers several key capabilities. Institutional clients get custody support for STX tokens, plus the ability to mint and bridge sBTC, the synthetic Bitcoin asset that operates on the Stacks network.
From there, clients can access DeFi protocols built on Stacks, including Hermetica, Zest/Granite, and Bitflow. These protocols span lending, token swaps, and yield generation.
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One of Stacks’ selling points for institutional users is speed. The network processes transactions with roughly 5-second block times, compared to Bitcoin’s average of about 10 minutes. For institutions executing complex DeFi strategies, that difference matters.
The integration was announced in early February 2026, with full functionality expected by the end of Q1 2026.
Why institutions care about Bitcoin DeFi now Bitcoin’s base layer wasn’t designed for smart contracts. Layer 2 solutions like Stacks exist specifically to bridge that gap, adding programmability on top of Bitcoin’s security model. But even with Layer 2 solutions available, institutions faced a second barrier: custody and compliance. A hedge fund or asset manager can’t just connect a MetaMask wallet to a DeFi protocol and start yield farming. They need enterprise-grade custody, audit trails, regulatory compliance frameworks, and counterparty risk management. That’s exactly what Fireblocks provides.
Broader context and competitive positioning Stacks has also established partnerships with BitGo and Circle, two other heavyweight names in institutional crypto infrastructure. BitGo provides custody and liquidity services to institutional investors. Circle is the issuer of USDC, the second-largest stablecoin by market cap. Together with Fireblocks, these partnerships form a triangle of institutional credibility that few Bitcoin Layer 2 competitors can match.
For investors watching this space, the key metric to track isn’t the integration announcement itself but what happens to total value locked on Stacks-based DeFi protocols over the coming quarters. If institutional capital actually flows through Fireblocks into protocols like Hermetica, Zest/Granite, and Bitflow, it would validate the thesis that Bitcoin DeFi can attract serious money, not just crypto-native capital.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Stacks Endowment otevřel žádosti o Q2 2026 Builder Grants pro bitcoinové vývojáře, uzávěrka je 26. června a rozhodnutí padnou do 1. července. Program cílí na finance nativní pro Bitcoin.
Bitcoin builders have a three-week window to pitch their projects for funding. The Stacks Endowment opened applications for its Q2 2026 Builder Grants on June 5, with the deadline set for June 26 and funding decisions expected by July 1.
The grant program is specifically focused on what the Endowment calls “Bitcoin-native finance,” a category that spans decentralized finance protocols, perpetual contracts, real-world asset tokenization, agentic applications, and privacy-enhancing tools.
What’s on the table Previous 2026 grant cycles offered two distinct tracks. Builder Grants provided up to $50K for established teams with proven track records. Getting Started Grants offered up to $10K for early-stage projects still finding their footing.
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Applications close June 26, and funding decisions land by July 1. That’s a five-day review window.
The Stacks Endowment recently received a 25 million STX donation through SIP-031, which significantly bolsters its capacity to fund builders across the ecosystem.
Why Bitcoin Layer 2 development matters right now Stacks positions itself as a leading Bitcoin Layer 2 solution, enabling smart contracts and DeFi functionality that settle directly on Bitcoin.
What this means for investors The Stacks Endowment’s mission is to manage the ecosystem’s long-term treasury and allocate capital toward sustainable growth. The 25 million STX donation through SIP-031 signals that the broader Stacks community is willing to put real resources behind this strategy.
Builders interested in applying have until June 26 to submit their proposals. The rapid funding timeline, with decisions by July 1, means approved teams could be deploying capital before most traditional venture processes even schedule their first call.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
THORChain pozastavil obchodování a swapy po exploitu za více než 10 milionů USD napříč Bitcoinem, Ethereum, BSC a Base. RUNE během několika hodin spadl o 12 %.
THORChain, a decentralized cross-chain liquidity protocol, has paused trading after blockchain security researchers flagged an exploit worth over $10 million. The protocol has reportedly suffered an exploit across Bitcoin, Ethereum, BSC and Base. As a result, RUNE price crashed 12% in a few hours.
THORChain Hit By $10M Crypto Losses in Exploit On-chain investigator ZachXBT on May 15 flagged an exploit on THORChain, claiming losses exceeding $10 million. The funds are stolen across multiple major blockchains, including Bitcoin, Ethereum, BNB Smart Chain (BSC), and Base.
In response, THORChain has halted all trading and swaps via its emergency protocol to contain the damage. The exploit involved large unauthorized outflows from THORChain’s router contracts across the affected chains.
Many security researchers and analytics platforms such as PeckShieldAlert revealed the attacker’s wallets. Notably, the wallets hold 36.85 BTC, 3,443 ETH, and 96.6 BNB, along with other tokens like USDT, USDC, and WBTC, according to Arkham data.
THORChain Exploiter Wallet’s Crypto Assets. Source: Arkham The incident triggered THORChain’s built-in halt mechanism, where nodes pause operations upon detecting the exploit to protect liquidity providers (LPs). This is reportedly the second notable security event for THORChain this year, amplifying concerns about DeFi interoperability risks.
Recently, KelpDAO suffered a hack worth $290 million. The attacker drained rsETH through KelpDAO’s LayerZero-powered cross-chain bridge, risking contagion to other DeFi protocols such as Aave.
RUNE Price Crashes 12% amid Market Reaction RUNE price fell 12% in just a few hours, with the price currently trading at $0.520. The 24-hour low and high are $0.502 and $0.597, respectively. Furthermore, trading volume has increased by almost 140% over the last 24 hours as investors book profits amid a decline in prices.
In contrast, CoinGlass data showed massive buying in the derivatives market. At the time of writing, the total THORChain futures open interest jumped more than 6% to $24.80 million in just an hour. RUNE futures open interest spiked 19% in the past 4 hours, with an almost 17% and 19% jump on Binance and Bybit, respectively.
THORChain Futures Open Interest. Source: Coinglass If you’re looking for more cross-chain swap protocols, here are our reviews for the top 9 among the best cross-chain swap platforms in 2026.
Binance ve 43. reportu PoR ukázala růst uživatelských zásob na zhruba 630 000 BTC a 4,14 milionu ETH. Zároveň USDT klesly zhruba o 460 milionů na 34,3 miliardy USDT.
Binance has released its 43rd proof of reserves report, using a June 1 snapshot of user asset balances.
Summary
Binance users added 25,838 BTC in May, lifting reported holdings to about 630,000 BTC total. ETH balances rose faster than BTC, climbing 10.17% to about 4.14 million ETH by June. USDT holdings fell by roughly 460 million, pointing to lower stablecoin balances among Binance users. The latest update on the Binance PoR page shows a clear rise in reported Bitcoin and Ethereum user holdings from the prior month.
User BTC holdings rose 4.26% from May 1 to about 630,000 BTC. That marked an increase of 25,838 BTC. User ETH holdings rose faster, climbing 10.17% to about 4.14 million ETH, up 382,619 ETH over the same period.
The increase in BTC and ETH balances comes as exchange reserve reports remain closely watched by traders. Larger user balances can reflect deposits, purchases, internal transfers, or other account activity. The snapshot does not separate those drivers.
USDT balance moves lower The stablecoin side moved in the other direction. Binance reported user USDT holdings of about 34.3 billion USDT, down 1.33% from May 1. The decrease was equal to roughly 460 million USDT.
Binance Releases 43rd Proof of Reserves Report
Binance, the world’s largest crypto exchange by user count and trading volume, released its 43rd Proof of Reserves report with a June 1 snapshot. User BTC holdings rose 4.26% from May 1 to about 630,000 BTC, an increase of 25,838… pic.twitter.com/P6GQBFhj3s
— Wu Blockchain (@WuBlockchain) June 18, 2026 The mixed data shows users held more BTC and ETH on Binance, while reported USDT balances fell. The report does not show why balances changed. It does not prove whether users bought crypto, withdrew stablecoins, moved funds between products, or changed trading plans.
A lower USDT balance can matter because stablecoins often act as dry powder for trading. However, the figure alone does not show whether liquidity left Binance or moved into other assets on the platform.
Proof of reserves remains under focus Binance uses proof of reserves to show that user assets are backed on-chain. The exchange says the process is meant to prove customer funds are held “1:1” and include extra reserves. The report is based on snapshots, so it does not operate as a live balance sheet.
As crypto.news reported earlier, Binance led proof-of-reserve rankings with $155.6 billion in assets in January 2026, based on CoinMarketCap data. According to an earlier crypto.news report, Binance’s open-source PoR system uses zero-knowledge proofs to improve verification and privacy for users.
Balance changes point to rotation The June snapshot differs from some earlier reserve moves. In a previous crypto.news report, Binance’s September balances showed declines in BTC, ETH and USDT during a weaker market period. The latest snapshot shows the opposite for BTC and ETH, even as USDT balances fell.
crypto.news previously reported that Binance backed major tokens at more than 100% in a May 2025 reserves update, including Bitcoin, Ethereum and USDT. That earlier report said proof of reserves became more closely watched after FTX collapsed and users demanded clearer exchange backing data.
The latest figures suggest Binance users held more core crypto assets and less USDT at the start of June. BTC and ETH remain the two largest non-stablecoin assets in most exchange reserve reports, making their balance changes a key market signal.
Still, proof of reserves has limits. It shows reported asset backing at a point in time, but it does not fully explain liabilities, off-chain obligations, or user behavior. For that reason, the latest Binance report shows a balance shift, not a full picture of exchange health.
Telcoin získal v Nebrasce schválení provozovat první regulovanou banku s digitálními aktivy v USA, což spustilo prudký růst TEL. Povolení má otevřít cestu i pro bankovní stablecoin eUSD.
Telcoin (TEL) is an ERC-20 token powering a platform that connects mobile telecommunications with decentralized finance. In mid-November 2025, the token surged 95% after Telcoin received approval to operate the first regulated digital asset bank in the United States under Nebraska's Financial Innovation Act.
The approval was more than a price catalyst. It represents years of infrastructure work aimed at delivering low-cost financial services through mobile networks. Few crypto projects hold banking licenses, telecom partnerships, and DeFi infrastructure simultaneously. Telcoin now has all three.
This analysis covers TEL's tokenomics, utility, market performance, and the regulatory progress positioning it where traditional finance meets blockchain.
What Is the Telcoin Project?Founded in 2017 by CEO Paul Neuner, Telcoin set out to build what it calls the "Internet of Money." The platform integrates telecommunications, digital banking, and decentralized finance to bring accessible financial services to mobile users worldwide. It achieves this through partnerships with mobile network operators (MNOs) under the GSMA framework.
The ecosystem has several moving parts. The Telcoin Wallet app lets users hold stablecoins, swap tokens on Polygon, and send cross-border payments. The wallet already supports 11 digital cash currencies on Polygon, including eAUD, eGBP, eJPY, eSGD, and eZAR. Governance sits with the Telcoin Association, a Swiss non-profit overseeing protocol decisions.
Regulatory licensing has been central to Telcoin's approach. The project holds licenses in Singapore, Lithuania, the United States, Canada, and Australia. The November 2025 Nebraska approval stands as its most significant milestone. The charter is the first in the US to explicitly authorize connecting customers to DeFi protocols under a regulated framework. Bank-issued stablecoin eUSD is expected to launch soon, with eEUR announced for EU markets under MiCA compliance but not yet live.
What Is Telcoin Network?Telcoin Network is the project's own blockchain, currently in development. It's an EVM-compatible, public chain secured by GSMA Operator Member mobile network operators using Proof-of-Stake consensus.
The network design puts telecoms at the center. Only GSMA Full Member MNOs can run transaction nodes and earn network fees. This creates a validator set tied to established telecom infrastructure rather than anonymous node operators. Validators receive TEL issuance as rewards for securing the network and maintaining efficient operations.
Development has progressed through several phases. Once fully live, telecoms and their mobile money subsidiaries can launch customized financial applications tailored to local markets. The network also bridges with existing mobile financial services ecosystems and other blockchains.
Why Does a Telecom-Secured Chain Matter?Most blockchains rely on anonymous validators or mining pools. Telcoin Network takes a different route by anchoring validation to licensed telecoms with existing compliance infrastructure, global reach, and billions of existing customer relationships. This design aims to solve two problems at once: regulatory acceptance and distribution scale.
How Does TEL Accrue Value on the New Chain?For TEL holders, the network transition changes the token's economic role. On Ethereum, TEL is one of thousands of ERC-20 tokens. On Telcoin Network, it becomes the native asset powering all transactions.
Gas demand: Every transaction requires TEL for fees, creating persistent buy pressure as network activity grows.Staking locks: Validators and delegators must stake TEL to participate, reducing circulating supply.Validator rewards: TEL issuance flows to MNOs securing the network, aligning telecom incentives with token value.Whether fee burns or MEV capture mechanisms are planned has not been confirmed. Monitor official channels for updates on deflationary features.
How Do TEL Tokenomics Work?$TEL launched via an initial coin offering in 2017 as an ERC-20 token on Ethereum. It has since expanded to Polygon, Arbitrum, and Base. The token serves as the native asset of the Telcoin Platform, with the Telcoin Association handling governance.
Key Token MetricsTotal supply: 100 billion TEL (hard cap, no additional minting planned)Max supply: 100 billion TEL (matches total supply)Circulating supply: 91-95 billion TEL (91-95% of total)Holder count: Approximately 97,700 wallet addressesInflation rate: Zero (no new tokens minted)Burn mechanisms: None confirmed for 2025Supply DistributionThe 4% gap in circulating supply figures between CoinMarketCap and CoinGecko likely stems from differences in how real-time updates are handled or in how vesting schedules are counted.
High circulation means strong liquidity, but it also raises questions about dilution from remaining unlocked tokens. The original ICO included team vesting provisions, though recent focus has shifted toward decentralized governance. No explicit burn schedules have been announced.
Inflation and Deflation DynamicsWith no new tokens being minted, TEL has zero inflation. All scarcity comes from the fixed 100 billion cap. Deflationary pressure could emerge through transaction fee burns or staking locks once Telcoin Network launches, but those mechanisms depend on future protocol decisions.
The fully diluted valuation currently ranges from $487.4 million to $501.2 million, based on the price multiplied by the maximum supply.
What Are TEL's Utility and Use Cases?TEL does more than trade on exchanges. The token plays several active roles across the Telcoin ecosystem.
Network Operations: TEL will serve as the gas token for the upcoming Telcoin Network. It also functions as a reserve asset and powers staking, liquidity provision, and validator rewards.DeFi Integration: Users stake TEL to earn yields and provide liquidity to pools. The token connects to the platform's eXYZ Digital Cash stablecoins for settlements and lending, with bank-issued eUSD set to launch as a regulated dollar stablecoin.Mobile Finance: TEL enables borderless payments to mobile money platforms. Partnerships with Powerhive for energy financing in Kenya and The Game Company for gaming transactions show its real-world reach.Governance: Token holders influence protocol decisions through the Telcoin Association framework.This mix of network utility, DeFi functionality, and practical applications sets TEL apart from purely speculative tokens.
How Has TEL Performed in the Market?TEL's price action reflects both broader crypto trends and project-specific news. As of late November 2025, the token trades between $0.00487 and $0.00501. Market cap ranges from $444.7 million to $463.4 million.
Recent Price MovementsDaily trading volume runs between $3.22 million and $4.22 million, about 0.72% of the market cap. That ratio suggests moderate liquidity for a token this size.
At the time of writing, recent volatility looks typical for mid-cap crypto: movements ranging from -7.4% to +7.08% over 24 hours, -24.5% over seven days, +27.5% over 30 days, and +34.5% year-over-year. These figures change daily, so check the current data for the latest figures.
The big move came around November 12, 2025. TEL jumped roughly 100% following news of the US banking approval, peaking a few days later before consolidating.
Price of TEL token surged after banking charter approval (CoinMarketCap)Historical Extremes and ContextTEL hit its all-time high of $0.06448 on May 11, 2021, during that year's bull run. Current prices sit about 92.4% below that peak. On the other end, the all-time low of $0.00006474 came on March 13, 2020, amid the COVID-driven market downturn. From that bottom, the token has climbed over 7,425%.
Trading happens on exchanges such as MEXC, Kucoin, and Bitget. Unconfirmed community speculation suggests potential Tier-1 listings like Coinbase could follow, though nothing official has been announced. Community sentiment remains bullish, and CoinGecko gives the project a security score of 85.81%, with 43% of the codebase reportedly covered by audits.
What Happened with Telcoin in 2025?This year brought several developments affecting TEL's value proposition and adoption trajectory.
Digital Asset Bank Approval (November 12): Telcoin became the first crypto project to secure a US banking charter. The Nebraska charter explicitly authorizes DeFi connections under a regulated framework, a first for US banking. This clears the path for eUSD, the company's bank-issued dollar stablecoin, and triggered the November price surge.Funding Raise (October 14): The project raised $25 million as part of an ongoing pre-series A round to capitalize Telcoin Digital Asset Bank. Investors include Tom Kaiman of Otter & Co. Capital Holdings. The funding meets capital requirements and positions Telcoin to bridge what the company calls the "$4 trillion blockchain economy" with traditional banking.Network Development: Alpha Testnet went live after May 2025. Beta Testnet is targeted for year-end, with mainnet to follow. Blockchain rollouts often face delays, so monitor official channels for the latest timeline.Industry Events: Telcoin appeared at MWC Kigali in October and the Africa Stablecoin Summit in November, highlighting telecom integrations for African financial inclusion.Wallet Updates: Version 4.0 launched in Q1 with UX improvements. November 18 maintenance prepared the platform for further upgrades.How Does Telcoin Compare to Competitors?The remittance and mobile payment space is crowded. Wise and Remitly dominate cross-border transfers with established user bases and fiat rails. Traditional banks remain entrenched despite higher fees. Other blockchain projects like Stellar and Ripple target similar use cases.
Telcoin differentiates on three fronts:
Telecom distribution: Rather than building user acquisition from scratch, Telcoin partners with MNOs who already serve billions of mobile subscribers. This gives potential access to distribution channels that fintech startups typically spend years and millions trying to replicate.Regulatory-first approach: Most crypto remittance projects operate in legal gray areas or offshore jurisdictions. Telcoin pursued banking licenses and helped author the Nebraska Financial Innovation Act in 2021. The result is a framework that competitors would need years to match.Integrated stablecoin suite: While others rely on third-party stablecoins like USDT or USDC, Telcoin issues its own eXYZ Digital Cash currencies directly through its wallet. Bank-issued eUSD adds another layer of regulatory credibility once live.Whether this translates to market share remains unproven. The infrastructure exists, but adoption at scale is the next test.
What Risks and Challenges Does TEL Face?Regulatory wins aside, TEL faces hurdles common to crypto projects plus some unique to its niche.
Key Risk FactorsRegulatory Uncertainty: Nebraska approval is progress, but rules differ across jurisdictions. International growth depends on securing and keeping licenses in countries with varying frameworks.Market Competition: Established players like Wise and Remitly have a years-long head start and brand recognition. Traditional banks continue to invest in faster payment rails. Blockchain competitors are also well-funded.Adoption Challenges: Success hinges on telecom partnerships and user uptake in regions where legacy finance may be preferred, or crypto awareness is low.Technical Execution: Mainnet rollout and stablecoin launches carry implementation risk. Delays or bugs could shake confidence.Current InfrastructureThe banking charter gives Telcoin infrastructure that few crypto projects have. The eUSD framework connects regulated finance with DeFi. Mainnet development will establish TEL's role as a native gas token. The focus on underbanked populations in Africa and developing regions targets a massive potential user base. Exchange presence includes MEXC, with talk of Tier-1 additions circulating as unconfirmed speculation.
ConclusionTEL powers a platform that has cleared regulatory barriers that only a few crypto projects even pursue. The Nebraska banking charter enables stablecoin issuance while keeping DeFi doors open. A capped 100 billion supply and utility across gas, staking, governance, and payments give the token a defined role where telecom, banking, and blockchain overlap.
Telcoin now combines US banking approval, telecom partnerships across multiple countries, and a working wallet app. For anyone watching projects that bridge regulated finance and decentralized tech, this is one of the few with both the paperwork and the product.
The next 12-18 months, covering mainnet launch, stablecoin rollout, and telecom integrations, will determine whether Telcoin can convert infrastructure into adoption.
Visit the official Telcoin website for more information and follow @telcoin on X to stay updated on the latest developments.
SourcesTelcoin Official Website - Project overview and documentationCoinMarketCap - Market data, supply metrics, and holder statisticsCoinGecko - Price history, all-time highs/lows, and security metricsTelcoin Magazine (Substack) - Project updates, roadmap, and regulatory newsBusinessWire - $25 million funding announcement (October 2025)MEXC Exchange - Trading data and tokenomics breakdown
$TEL začne 22. ledna 2026 ve 14:00 UTC obchodovat na Krakenu, což rozšíří regulovaný přístup pro uživatele v USA. Listing navazuje na schválení Telcoinu jako první americké státem licencované digitální asset banky a spuštění eUSD v prosinci 2025.
Telcoin's native token $TEL will begin trading on Kraken on January 22, 2026, at 14:00 UTC, expanding access to the token that powers the Telcoin Network's telecommunications blockchain infrastructure. The listing follows Telcoin's recent regulatory approval as the first U.S.-chartered digital asset bank and the December 2025 launch of its eUSD stablecoin.
What Does The Kraken Listing Mean For Telcoin?Kraken announced the listing in a statement emphasizing Telcoin's alignment of mobile networks around a shared blockchain standard. According to Telcoin, the listing represents "expanding US access to the token powering the telecommunications blockchain standard."
Kraken's regulated infrastructure matches Telcoin Association's stated mission of uniting mobile operators around shared blockchain infrastructure to connect billions of users on Telcoin Network. The exchange has built a reputation for listing projects with regulatory clarity, making it a logical fit for Telcoin following its November 2025 Nebraska banking charter approval.
Who Is Telcoin And What Makes It Different?Founded in 2017, Telcoin operates at the intersection of blockchain infrastructure and telecommunications networks. The company focuses on delivering low-cost financial services, particularly payments and cross-border remittances, through partnerships with mobile network operators.
The platform currently works with more than 200 mobile network operators globally and supports over 2 million wallet users. Most activity occurs on Polygon due to lower transaction costs compared to Ethereum mainnet.
The Telecommunications Blockchain StandardTelcoin's approach centers on partnering directly with mobile carriers rather than competing with them. These mobile network operators, often called MNOs in the telecom industry, provide the distribution channels for Telcoin's financial services. This model aims to reach users in markets where traditional banking infrastructure remains limited or expensive.
Recent Regulatory MilestonesOn December 26, 2025, Telcoin formally began banking operations with the launch of eUSD, a U.S. dollar-pegged stablecoin backed 1:1 by cash reserves. The stablecoin launched on both Ethereum and Polygon with an initial mint of $10 million.
This marked the first time a U.S.-chartered bank issued a dollar-backed stablecoin directly onto public blockchains. The launch followed regulatory approval from the Nebraska Department of Banking and Finance in November 2025.
Key structural differences set eUSD apart from existing stablecoins:
Bank-issued structure: eUSD comes from a U.S.-chartered bank subject to state banking supervision, unlike USDC or USDT which are issued by private companies outside the traditional banking systemOn-balance-sheet reserves: Backing reserves sit directly on the bank's balance sheet rather than with third-party custodians, reducing counterparty riskRegulatory framework: The stablecoin operates under laws designed specifically for payment stablecoins, not adapted money transmission regulationsNebraska's Digital Asset FrameworkTelcoin Digital Asset Bank received its charter under the Nebraska Financial Innovation Act of 2021. This law created a new category called digital asset depository institutions, which can custody digital assets, issue stablecoins, and process payments but cannot engage in traditional lending.
The framework requires institutions to maintain full reserves and meet strict capital standards. Telcoin raised approximately $25 million in October 2025 to meet these capitalization requirements.
How Does This Expand US Market Access?The Kraken listing provides a regulated on-ramp for U.S. users seeking exposure to $TEL. Before this listing, U.S. access to the token was more limited compared to international markets.
Trading begins at 14:00 UTC on January 22, with Kraken supporting standard trading pairs. The exchange serves millions of verified users in the United States and maintains registrations with federal agencies including FinCEN.
For Telcoin, the listing aligns with its broader push into regulated U.S. markets following the eUSD launch and Nebraska charter approval. The company operates under both state and federal oversight, including the federal GENIUS Act passed in mid-2025, which established national standards for payment stablecoins.
ConclusionTelcoin operates as the first U.S.-chartered digital asset bank with active stablecoin issuance capabilities on public blockchains. The platform maintains partnerships with over 200 mobile network operators across 171 countries and supports more than 2 million wallet users. Through its Nebraska charter, the company issues eUSD stablecoins on Ethereum and Polygon under full regulatory supervision, with $10 million currently in circulation. The Kraken listing provides regulated U.S. market access to $TEL, the native token that powers cross-border remittances and payments through Telcoin's telecommunications-based blockchain infrastructure.
ResourcesTelcoin on X: Posts (January, 2026)
Press release by Telcoin 1: Telcoin Begins Digital Asset Banking Operations with Launch of eUSD Stablecoin
Press release by Telcoin 2: Telcoin Makes U.S. Banking History with Approval to Launch the First Regulated Digital Asset Bank
Report by Fintech Global: Telcoin raises $25m to launch regulated digital asset bank
ALPACA po zalistování perpetual futures na Binance a WhiteBit vyskočila o více než 252 % z letošního minima. RSI na 86 a MFI na 97 ale ukazují na silně překoupený trh.
Alpaca Finance token experienced a significant surge this week, reaching a high of $0.227, the highest level since April 8.
ALPACA (ALPACA) rose by over 252% from its lowest point this year, making it one of the top-performing coins of the week. Its market cap climbed to over $37 million, while its 24-hour trading volume spiked to $142 million.
The token’s surge followed the listing of its perpetual futures on Binance, the largest centralized exchange in the industry. This listing potentially exposed the token to over 216 million users on the platform.
In addition to Binance, WhiteBit, a partner of FC Barcelona, also listed Alpaca Finance’s perpetual futures. According to WhiteBit’s website, it recorded a 24-hour trading volume of over $6.5 million.
Alpaca Finance is one of the top Decentralized Finance dApps in the BNB Smart Chain ecosystem with over $55 million in funds deployed across its V1 and V2 networks. It is an alternative to AAVE (AAVE) that lets people borrow and earn rewards.
It is common for altcoins to see substantial gains following their listing on major exchanges like Binance and Coinbase.
Alpaca token gets overbought Alpaca token price | Source: TradingView Alpaca’s price surge coincided with the convergence of two lines forming a falling wedge pattern, a technical setup that typically signals further upside potential.
The token broke above the key resistance level at $0.1940, the highest point on June 5, and surpassed both the 200-day and 50-day moving averages. This move indicates that bullish momentum is currently strong.
Alpaca reached a high of $0.2778, aligning with the weak, stop & reverse level of the Murrey Math Lines tool.
However, there are signs that it has gotten highly overbought. The Relative Strength Index rose to the extremely overbought point at 86 while the Money Flow Index indicator moved to 97.
While these overbought conditions reflect strong bullish momentum, they also suggest that a sharp reversal could occur as the initial excitement from the exchange listings fades. If a pullback happens, the key reference level to monitor would be $0.1940, which aligns with the major support/resistance pivot point of the Murrey Math Lines.
Alpaca Finance po čtyřech letech ukončuje leveraged yield farming, stablecoin služby i perpetual exchange. ALPACA po oznámení klesl téměř o 30 % na 0,1126 USD.
Once a top protocol on BNB Chain, Alpaca Finance will discontinue leveraged yield farming, stablecoin services, and its perpetual exchange by December.
Alpaca Finance, a decentralized finance project known for leveraged yield farming on BNB Chain, is shutting down after four years — and while the team says it’s the “most responsible” move for the community, the market didn’t take it well, with ALPACA (ALPACA) falling nearly 30% to $0.1126.
In a blog post late Monday, the Alpaca Finance team said it had made “the incredibly difficult decision to begin sunsetting Alpaca Finance and all of its products,” citing shrinking revenue, failed acquisition talks, and the recent delisting of ALPACA from Binance as reasons behind the move.
“This choice wasn’t made lightly, but we believe it is the most responsible course of action to safeguard our community and ensure a graceful and secure wind-down.”
The Alpaca Finance team
Alpaca Finance launched in early 2021 with a leveraged yield farming platform that gained traction on BNB Chain. Over time, the team introduced other products such as automated vaults, an AUSD stablecoin, and a perpetual trading platform dubbed “Alperp.”
However, the launch of concentrated liquidity AMMs “fundamentally shifted the landscape,” the team said, adding that “traditional leveraged yield farming became significantly less compelling and much more difficult to do profitably.”
The team also admitted it had “been operating at a loss for over two years,” even after downsizing, adding that continuing under these conditions “is simply not sustainable.” The Alpaca Finance team says it explored mergers and acquisitions but added that “these deals fell through” as the market weakened in early 2025.
The recent delisting of ALPACA from Binance “was another major blow,” as it “not only limits token accessibility but also restricts our ability to deploy our remaining warchest effectively toward any new initiatives,” the team wrote in the blog post. The shutdown will proceed gradually, with key deadlines set between June and December.
Chia Network pokročila k IPO a podle CEO Genea Hoffmana na konci března podala upravený důvěrný formulář S-1. Firma zatím nemá pevný termín a čeká na vhodné tržní podmínky.
Chia Network (XCH), which uses a novel consensus mechanism for running its blockchain, has made progress toward getting its stock trading through an initial public offering, its CEO said Thursday.
The company confidentially filed an amended S-1 form with the U.S. Securities and Exchange Commission at the end of March, after the regulators sent a comment letter to the company, CEO Gene Hoffman said at a conference hosted by law firm Brown Rudnick in Manhattan. However, there is still no firm timeline for the IPO since the company wants to wait for the right market conditions, he later told CoinDesk.
Chia revealed in April 2023 that it wanted to go public, though its IPO plans took a detour because of financial distress at Credit Suisse, its underwriter. That led to Chia laying off a third of its staff in October.
Chia was founded by Bram Cohen, who invented the BitTorrent peer-to-peer filesharing technology. Unlike Bitcoin, which uses proof-of-work to run its blockchain, and Ethereum, which uses proof-of-stake, Chia uses proof-of-space and proof-of-time, which, in short, involves the allocation of computer storage on machines around the world.
Hoffman said Chia is planning to roll out a bridge for Circle's USDC stablecoin in the coming months, as well as additional infrastructure projects.
Reward pool NovaBox na Ethereu byl napaden a útočníci odcizili zhruba 56,73 ETH. Incident zasáhl přes 130 vkladatelů a souvisel s chybou v mechanismu rozdělování odměn.
PANews reported on June 11 that, according to Bits.media, the NovaBox platform's reward pool was hacked on Ethereum on June 9, resulting in the loss of approximately 56.73 ETH, affecting over 130 depositors. The attackers drained the pool from 65.11 ETH to 0.09 ETH in a single transaction, representing approximately 99.86% of the total. Security firm F12 stated that the incident was not due to a smart contract vulnerability, but rather a flaw in the reward distribution mechanism.
The attacker borrowed 427.5 WETH through an Aave V3 flash loan, exploiting a vulnerability in NovaBox's mechanism where dividends are paid out before the balance is updated upon user deposits and withdrawals. The hacker first deposited a small amount of NOVA tokens to trigger dividend calculation, then deposited a large amount of ETH, significantly increasing the actual share. However, because the system failed to update the balance in time, dividends were still calculated based on the previous small share, but were paid out based on the new large share, resulting in a "phantom dividend" of approximately 145.82 ETH, thus depleting the reward pool.
MEV bot JaredFromSubway byl podle Blockaid vyprázdněn přes falešné tokeny a otevřená schválení, která útočník zneužil k odčerpání asi 7,5 milionu USD. Bot později tvrdil ztrátu 15 milionů USD.
Ethereum’s well-known MEV bot JaredFromSubway was drained after an attacker used contracts that made its automated trading system grant token approvals, according to Blockaid.
Summary
Blockaid says attacker-controlled contracts tricked JaredFromSubway’s automated system into granting approvals later used for draining. Jared publicly claimed a $15 million loss, while Blockaid’s public estimate stood near $7.5 million. Crypto.news previously tied JaredFromSubway to Vitalik Buterin’s swap and heavy Ethereum gas use in 2023. The security firm said the incident was not a normal phishing case and not a direct bug in the victim contract.
“This is not a classic phishing attack and not a traditional smart-contract vulnerability in the victim contract,” Blockaid said.
The firm said the bot approved attacker-controlled contracts during routes that appeared to be profitable MEV trades.
Blockaid says approvals stayed open Blockaid said the attacker first tested routes where approvals were used at once, leaving no open allowance. Later, the attacker changed the route design so the bot gave approvals that were not spent or revoked.
One example cited by Blockaid involved an approval of about 92.16 WETH to an attacker helper contract. Etherscan data for the transaction showed jaredfromsubway.eth interacting with its MEV Bot 2 contract before the later sweep. The transaction record also showed ERC-20 movements tied to the same automated route.
Final sweep hit WETH, USDC and USDT The final transaction used the open approvals to pull WETH, USDC and USDT from the JaredFromSubway MEV bot contract through transferFrom. Etherscan showed transfers from “jaredfromsubway: MEV Bot 2” to the attacker wallet beginning with 0x3e37.
Blockaid put the drained amount at about $7.5 million. The JaredFromSubway account later claimed the loss was $15 million and offered a $1 million bounty for the full return of the funds. That difference has not been fully explained in the public posts reviewed.
How the attacker turned the bot’s logic against it The attack appears to have targeted the bot’s own trading workflow. MEV bots watch Ethereum activity and act on transactions that look profitable. In this case, attacker-controlled contracts made the route look useful enough for the bot to approve spending rights.
The attacker used 66 fake token contracts that copied the look and function of WETH, USDC and USDT. These contracts were paired with fake liquidity pools. The setup pushed the bot toward approvals that later became the path for the drain.
JaredFromSubway’s record is back in focus JaredFromSubway is one of Ethereum’s most watched sandwich bots. In a sandwich attack, a bot places trades before and after a user’s swap. This can give the user a worse price while the bot captures the spread.
As previously reported by crypto.news, JaredFromSubway targeted a small swap by Ethereum co-founder Vitalik Buterin in April, using about $1.14 million in WETH volume across SushiSwap and Uniswap V2. Crypto.news also reported in 2023 that the bot used 455 ETH in gas within 24 hours and accounted for about 7% of Ethereum gas use during that period.
The exploit now puts attention on token approvals used by automated systems. The case shows how a system built to act quickly on open market data can be steered into unsafe permissions when controls around approvals are weak. It also adds a new chapter to the wider debate over MEV, sandwich trades and user protection on Ethereum.
For now, the key public details remain split between Blockaid’s technical thread, the on-chain records and posts from the JaredFromSubway account. No recovery had been confirmed in the reviewed updates.
Leading US-based crypto exchange platform Coinbase is listing “the world’s lightest blockchain” after a two-week delay.
News of the listing sent Mina Protocol (MINA), a privacy-focused payments protocol clocking in at a size of just 22 kilobytes, surging from its 24-hour low of $3.04 to $3.48, a 14.5% increase.
[adinserter block="1"]
According to the crypto project’s website, MINA’s small size allows anyone to connect to the internet using their smartphone to validate the blockchain’s transactions. Mina protocol uses zero-knowledge (ZK) proofs to secure user data while executing smart contracts.
ZK proofs allow one party to prove to a validator that a specific statement is true without giving out any extra irrelevant information.
MINA was initially set to launch two weeks ago but was met with delays. News of the original launch sent the smart contract platform surging from $2.16 to $2.71, a 25.4% increase.
Coinbase says that the ability to buy and sell the lightweight blockchain was pushed back in order to ensure the launch would be successful.
“In order to have full confidence in a successful launch of MINA, we have made the decision to continue to delay the launch of trading.”
Yesterday, Coinbase announced that trading MINA would begin as long as proper liquidity conditions were met. Those conditions were met and MINA was officially launched for trading on the exchange today as a result.
Mina Protocol has since stabilized and is exchanging hands at $3.22 at time of writing.
Copper nově nabízí úschovu a staking pro Mina Protocol (MINA), čímž rozšiřuje možnosti pro institucionální investory. Integrace umožní oprávněným klientům zapojit se do ekosystému přes infrastrukturu Copper.
Digital assets custody and collateral management provider Copper now offers custody and staking support for Mina Protocol.
Copper.co announced its support for Mina Protocol (MINA) on Aug. 21, noting that support for the zero-knowledge blockchain platform’s native token expands digital asset options for institutional investors.
The integration will allow eligible clients to participate in the Mina Protocol ecosystem through Copper’s infrastructure.
Targeting institutional investors Founded in 2018, Copper is a platform that seeks to offer institutional investors access and exposure to the digital assets market. The platform provided an MPC wallet and launched its off-exchange settlement solution, ClearLoop, in 2020.
ClearLoop allows users to manage digital asset collateral and settle trades across major crypto exchanges without moving assets off Copper’s wallet.
According to the London-based company, adding MINA staking allows for increased adoption of ZK technology.
“The addition of Copper’s custody solution gives professional and institutional entities more options to diversify their crypto participation with MINA. We hope that it will also raise awareness of institutional use cases for ZK technology, such as zk-KYC credentials that help address compliance without sacrificing user privacy,”
Kurt Hemecker, chief executive officer of Mina Foundation
Copper co-founder and chief executive Dmitry Tokarev commented that crypto and blockchain are at a “pivotal moment for institutional adoption.”
Tokarev added that the U.S. Securities and Exchange Commission’s approval of Ethereum ETFs in May and launch of trading in July has accelerated interest. As a result, the ecosystem is seeing increased demand for reliable tools through which institutional investors can gain exposure to cryptocurrencies.
Copper’s recent partnerships Copper recently partnered with Hedera (HBAR) to expand institutional access to the proof-of-stake network’s native token. The integration allows investors to leverage Copper Connect and Hedera protocols such as SaucerSwap to participate in the HBAR and Hedera Token Service utility.
Copper expanded its custody and staking service to Internet Computer (ICP) in July.
Terraform Labs, the entity responsible for the now-defunct TerraUSD (UST) stablecoin, has initiated bankruptcy proceedings in the United States.
The company filed for Chapter 11 bankruptcy protection at the United States Bankruptcy Court for the District of Delaware, indicating estimated liabilities and assets ranging from $100 million to $500 million, as per a January 21 filing.
In a separate statement, Chris Amani, the CEO of Terraform Labs, stated, “The Terra community and ecosystem have shown unprecedented resilience in the face of adversity, and this action is necessary to allow us to continue working toward our collective goals while resolving the legal challenges that remain outstanding.
We have overcome significant challenges before and, against long odds, the ecosystem survived and even grew in new ways post-depeg; we look forward to the successful resolution of the outstanding legal proceedings.”
According to the bankruptcy filing, the defunct company’s liabilities and assets both fall within the range of $100 million to $500 million.
READ MORE: Bitcoin ETFs: Game Changer or Threat to Crypto’s Core Principles?
This development comes just four days after the U.S. Securities and Exchange Commission (SEC) granted a postponement of Kwon’s upcoming fraud trial until March 25 in response to a request from his legal team.
The Terra ecosystem, overseen by Kwon, experienced a collapse in May 2022.
Following the firm’s implosion, the whereabouts of its co-founder remained unknown until he was apprehended in Montenegro in March 2023 for attempting to use forged travel documents to leave the country.
The SEC initially filed civil charges against Terraform Labs and Kwon in February 2023, accusing both parties of orchestrating a “multi-billion dollar crypto asset securities fraud” linked to the tokens previously known as UST and Terra (LUNA).
The United States and South Korea are both seeking Kwon’s extradition, sparking speculation that he could face multiple sentences in both nations.
Should Kwon be extradited to South Korea, he might potentially confront a 40-year imprisonment sentence in the country where the majority of his alleged crimes were committed.
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FalconX má koupit 21Shares, jednoho z největších správců digitálních burzovně obchodovaných produktů (ETP). Společnost se zaměří na deriváty a strukturované krypto fondy.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Wednesday! Bitcoin's fall below $100,000 by this weekend "seems inevitable," at least according to Standard Chartered’s Geoffrey Kendrick.
In today's newsletter, crypto prime broker FalconX will acquire 21Shares, MegaETH announced a public MEGA token sale at a $1 million fully diluted valuation, the SEC and CFTC are pushing to get crypto initiatives done before the end of the year, and more.
Meanwhile, institution-focused Layer 1 Kadena is winding down operations.
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Prime broker FalconX to buy 21Shares amid crypto M&A spree: report FalconX, a U.S.-based institutional crypto prime broker, has agreed to acquire 21Shares, one of the largest managers of exchange-traded products for digital assets, The Wall Street Journal reported on Wednesday. 21Shares is known for its broad suite of ETPs and single-asset products, including over $11 billion in assets across bitcoin and ether ETPs and other token-specific and basket offerings in Europe, the U.S., and other jurisdictions. FalconX’s acquisition comes on the heels of the firm's push into institutional derivatives last month, beginning with its 24/7 over-the-counter options platform supporting Bitcoin, Ethereum, Solana, and other tokens. The combined company will focus on derivatives and structured crypto funds, leveraging 21Shares’ distribution and ETP expertise with FalconX’s trading and prime-brokerage infrastructure. MegaETH to offer 5% of its total MEGA supply in English auction at baseline $1 million fully diluted valuation Ethereum scaling solution MegaETH plans to sell 5% of its total token supply in a three-day English auction beginning Oct. 27 using the crypto crowdfunding platform Sonar, which was recently acquired by Coinbase. The project will unlock 500 million tokens for the public sale, initially priced at $0.0001 and gradually scaling to $0.0999 per token as demand increases. Additionally, MegaLabs is instituting a "bimodal allocation" model that ensures core MegaETH supporters will receive tokens if the sale is oversubscribed. Buyers, limited to verified accredited U.S. persons and verified non-U.S. persons, can choose to lock up their allocations for one year to receive a 10% discount, according to an FAQ. Kadena winds down operations, KDA token drops 60% The organization behind the Kadena blockchain is winding down, effective immediately, as it is "no longer able to continue business operations" due to market conditions, the team announced Tuesday. "We are tremendously grateful to everybody who has participated in this journey with us. We regret that because of market conditions, we are unable to continue to promote and support the adoption of this unique decentralized offering," the Kadena team said on X. Kadena’s native KDA token dropped over 59% immediately following the announcement and is currently trading at $0.068, down significantly from an all-time high above $27 in late 2021. The blockchain was created in 2019 by two U.S. Securities and Exchange Commission and JPMorgan alums, Stuart Popejoy and William Martino, with the aim of attracting institutional interest. SEC, CFTC target end-of-year milestones for crypto oversight amid government shutdown The Commodity Futures Trading Commission and Securities and Exchange Commission are pushing to complete their end-of-year crypto goals, particularly priorities set out in a report released by the White House over the summer. These priorities include SEC-enforced safe-harbors for crypto and the establishment of "fit-for-purpose" registration exemptions for securities distributions, while granting the CFTC the authority to "regulate spot markets in non-security digital assets." Additionally, CFTC Acting Chair Pham said the agency is prioritizing crypto trading and "tokenized collateral" by the end of 2025. The move comes as lawmakers in Washington D.C., work to draft and advance market structure legislation that would write rules for crypto at large, including designations for what parts of the industry will fall under CFTC or SEC remit. 'Total land rush': Bitcoin, Solana lead the way with over 150 crypto ETF filings awaiting review There are 155 cryptocurrency-based exchange-traded product filings awaiting SEC review, according to Bloomberg.
As of Oct. 20, this includes 23 products tracking Bitcoin and Solana, 20 tracking XRP, and 16 tracking Ethereum. Although the U.S. government shutdown that began on Oct. 1 has slowed the SEC's review process, experts are optimistic that approval is imminent. Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
Kadena okamžitě ukončuje veškerou obchodní činnost i aktivní údržbu blockchainu kvůli nepříznivým tržním podmínkám. KDA a protokol mají pokračovat dál.
The Kadena organization said that it is no longer able to continue business operations and will be “ceasing all business activity” as well as any active maintenance of the Kadena blockchain with immediate effect.
The Kadena organization said they are winding down operations because of market conditions and are unable to continue to promote and support the adoption of this “decentralized offering.”
The organization also mentioned that they have notified staff that they will be ceasing operations. They will be retaining a small team for managing this period of transition and wind-down process.
As clarified in the update, the Kadena blockchain is “not owned or operated by the company.”
As a so-called “decentralized” proof-of-work smart-contract blockchain, the network is said to be “operated by independent miners, while on-chain smart contracts and protocols are governed independently by their maintainers.”
To ensure operational continuity, they will offer a new binary that will aim to enable “uninterrupted operation without their involvement, and will be encouraging all node operators to upgrade as soon as possible.”
As for the KDA token and protocol, it will also “continue in their absence.”
As noted in their latest token economic update, more than 566 million KDA remain to be distributed “as mining rewards, continuing until 2139, while the platform emission has 83.7 million KDA coming out of lockup until November 2029.”
They are now ready to engage with the Kadena community to discuss how they can aid the ongoing transition to “community governance and maintenance.”
Kadena, the first blockchain tech-focused firm to come out of J.P. Morgan’s Blockchain Center for Excellence, had reported in August 2020 that they had performed major updates to their scalable layer-1 public blockchain network.
Kadena’s developers claimed that they had one of the fastest blockchain platforms in the world claiming to be able to process 480,000 transactions per second.
In an interview with CI back in August of 2020, Kadena Co-Founder and President Stuart Popejoy, had explained in detail how the Kadena platform has been developed to support various decentralized applications (dApps) including the DeFi apps.
It’s worth noting that projects like Kadena may have experienced challenges due to increasing competition from many other initiatives that aim to serve similar markets and use-cases. It requires considerable resources to support a blockchain-based ecosystem and may not be sustainable like the case seems to be with Kadena. As the crypto ecosystem matures, there could be many other projects announcing their intentions to close down operations. There will most likely also be many mergers, acquisitions, and other ways the industry could become more consolidate moving forward.
IoTeX uvedl, že po útoku na ioTube je přes 86 % CIOTX zamčeno nebo zmrazeno a jen 0,4 % zůstává v ohrožení. Útočníci odcizili 410 milionů CIOTX a asi 4,4 milionu USD v aktivech.
PANews reported on February 23 that the IoTeX team tweeted that on February 21, they discovered an attack on the Ethereum side of their multi-chain bridge ioTube. The attackers stole 410 million CIOTX tokens and approximately $4.4 million in assets through four steps. Currently, over 86% of the CIOTX has been locked or frozen, 12.8% (52.4 million CIOTX) is being frozen in cooperation with Binance and other platforms, and only 0.4% (1.7 million CIOTX) remains at risk after being exchanged on DEXs. Regarding the bridge's reserve funds, the attackers exchanged the stolen reserve tokens (including USDC, USDT, WBTC, WETH, and other assets) for approximately 2,183 ETH . Of this, 1,572 ETH has been transferred to the Bitcoin network via THORChain.
The IoTeX team has taken emergency measures, including distributing patch fixes, freezing related addresses, and working with exchanges to freeze funds. The ioTube bridge service will be restored after an independent security audit, along with a compensation plan and security upgrades. The team is committed to ensuring the safety of community assets and will release a more detailed compensation plan and hold a community AMA within the next 48 hours.
Previously reported, IoTeX suffered a loss of approximately $2 million in assets and is expected to be operational within 48 hours . Upbit has added IoTeX (IOTX) to its transaction alert list .
IoTeX nabízí hackerovi 10% odměnu, tedy asi 440 000 USD, pokud do 48 hodin vrátí zhruba 4,4 milionu USD získaných při exploitu bridge ioTube. Firma tvrdí, že její Layer 1 zasažen nebyl.
Updated Feb 23, 2026, 11:23 p.m. Published Feb 23, 2026, 9:18 p.m.
4 min read
Nearly $400 million was lost to crypto exploits in January 2026 alone, according to industry estimates. (Photo by Joshua Michaels on Unsplash/Modified by CoinDesk)Summary
IoTeX is offering a 10% white-hat bounty, about $440,000, and a promise not to pursue legal action if hackers return roughly $4.4 million stolen from its ioTube cross-chain bridge within 48 hours.The Feb. 21 exploit stemmed from a compromised validator owner private key on the Ethereum side of the ioTube bridge, which IoTeX and outside experts describe as an operational security failure rather than a flaw in the Layer 1 blockchain or its smart contracts.IoTeX traced the stolen funds across chains, identified bitcoin addresses holding about 66.6 BTC, and is rolling out a mainnet upgrade with a default blacklist of malicious addresses, but experts warn that assets already swapped and bridged may be difficult or unlikely to recover.IoTeX, a blockchain project focused on Internet-of-Things devices, offered a 10% white-hat bounty to the hacker or hackers who exploited a private key on its cross-chain bridge ioTube, siphoning millions of dollars, in exchange for the voluntary return of funds within 48 hours.
With this move, IoTeX is offering the $440,000 if the malicious actor or actors return roughly $4.4 million they stole, according to an IoTeX X post, to which IoTeX co-founder and CEO Raullen Chai pointed “as a source of truth” on Monday.
A number of crypto projects have offered similar 10% bounties to hackers after being breached. Hackers sometime return funds in exchange for this bounty.
Chai told CoinDesk that the team sent an onchain message offering not to pursue legal action or share identifying information with law enforcement if the remaining funds are returned.
“This is regarding the ioTube bridge exploit on Feb. 21, 2026,” Chai said in the message. “All fund movements across Ethereum, IoTeX, and bitcoin have been fully traced.”
The message states that exchange deposits have been flagged and frozen and offers a 10% bounty for the return of remaining funds.
Chai also said IoTeX is rolling out a new chain version, Mainnet v2.3.4, requiring node operators to upgrade. The update includes a default blacklist of malicious externally owned account (EOA) addresses.
“This blacklist contains a list of malicious or problematic EOA addresses that will be filtered by the node,” Chai said.
The offer comes after a Feb. 21 exploit in which a compromised validator owner private key enabled unauthorized control over ioTube’s bridge contracts.
IoTeX said the incident is “under control,” saying that its Layer 1 blockchain was not affected and that the breach was isolated to the Ethereum-side infrastructure of the bridge.
The IOTX token fell roughly 22% following the exploit, dropping from $0.0054 to below $0.0042 before partially rebounding.
Cross-chain bridges have been one of crypto’s main failure points, with several high-profile exploits in recent years. According to industry reports, more than $3.2 billion has been lost due to cross-chain bridge hacks, making them a prime target for advanced threat actors.
Responsibility and key controlIoTeX framed the exploit as an operational issue specific to the bridge rather than a failure of its Layer 1 network.
“IoTube is IoTeX’s own cross-chain bridge built and maintained by their team,” Nick Motz, CEO of ORQO Group and CIO of Soil, told CoinDesk. “The breach came down to a compromised validator owner private key on the Ethereum side, which is fundamentally an operational security failure, not a smart contract vulnerability discovered by an outside actor.”
Motz agreed that IoTeX’s Layer 1 was not compromised but said user funds were entrusted specifically to the bridge.
“When you build and operate the bridge infrastructure and the key management is what fails, it’s difficult to separate yourself from that outcome,” he said.
Nanak Nihal Khalsa, co-founder of human.tech, said responsibility in crypto often comes down to key custody.
“Yes, whoever holds the private key is responsible for securing it,” Khalsa said. “Is that a reasonable responsibility? It’s hard to say. But that’s how the industry works right now.”
He added that liability norms remain unsettled compared to traditional finance and called for stronger wallet and multisig setups to reduce similar risks.
The estimates divergeOn-chain analysis by security firm PeckShield estimated more than $8 million worth of assets were affected, saying the attacker swapped funds into ether (ETH) and began bridging them to bitcoin BTC$61,650.42 via THORChain.
“The hacker has swapped the stolen funds to $ETH and has started bridging them to #BTC via #Thorchain,” the firm wrote.
Another onchain investigator, Specter, said on X that “the private key of @iotex_io may have been compromised,” resulting in an estimated $4.3 million loss.
“Once assets are routed through THORChain […] recovery becomes extremely difficult,” Motz said.
IoTeX said it has identified four bitcoin addresses holding 66.78 BTC worth roughly $4.3 million at current prices and that the addresses are being monitored in cooperation with exchanges.
A CoinDesk review of those addresses on Feb. 23 confirmed they held roughly 66.6 BTC.
IoTeX did not immediately respond to CoinDesk’s request for comment.
“Containment is not the same as recovery,” he added. “The assets with actual market value were swapped and bridged. Those are, in my assessment, unlikely to be recovered.”
Khalsa similarly cautioned that recovery prospects are uncertain. “It’s hard to predict how much, if any, can be recovered,” he said.
IoTeX revised its figure upward to approximately $4.3 million, reflecting the direct asset drain but excluding minted tokens. Motz said broader estimates may better capture the severity of the breach.
“Private key compromise rather than smart contract bugs is emerging as a dominant attack vector,” Motz said, noting that such incidents target operational security rather than audited code.
Before offering the 10% bounty, IoTeX said a compensation plan would be in place within the next 48 hours.
UPDATE (Feb. 23, 2026, 23:21 UTC): Adds context on bounties offered after hacks.
VVS Finance spustila funkci Auto Harvest pro Crypto.com Prepaid Card, která denně převádí odměny z yield farmingu po dosažení minima 6 USD do USDC nebo místní fiat měny a posílá je na kartu. Ruční claimy zůstávají bez poplatku.
VVS Finance today rolled out Auto Harvest—a game‑changer for anyone who’s been farming yield on Cronos and wondering how to spend those rewards without jumping through hoops. If you hold a Crypto.com Prepaid Card, you can now set things on autopilot: your VVS farming rewards (once they hit a $6 minimum) get swept up every day, converted into USDC (or your local fiat equivalent), and dropped straight onto your card.
No more manually harvesting, swapping tokens, or waiting for transfers to clear. It all happens behind the scenes, so you can wake up to a little extra spending power: coffee, groceries, whatever you like. And if you ever want to grab your rewards yourself, you still can—manual claims are fee‑free.
Esther Wong from Crypto.com puts it simply: “The Crypto.com Prepaid Card is a vital bridge between the fiat and crypto worlds and a stepping stone to participating in decentralized finance. The launch of Auto Harvest reinforces this by allowing VVS Finance users to automatically claim their yield farming rewards and seamlessly use them to enable spending on everyday goods and services.”
Cronos Labs’ Mirko Zhao is just as excited: “VVS Finance’s Auto Harvest feature shows that what happens on Cronos chain doesn’t have to stay on Cronos chain. Its native integration with Crypto.com Prepaid Card gives Cronos users the freedom to claim their yield farming rewards and decide where to utilize them – for other DeFi purposes onchain, or to cash them out to their prepaid card.”
And from VVS Finance’s side, Product Lead Yotei calls Auto Harvest a breakthrough. Yotei said, “The launch of Auto Harvest seamlessly connects DeFi and CeFi, making it easy for VVS users to claim rewards and immediately allocate them for everyday spending. It’s a breakthrough in making decentralized finance accessible to mainstream users, who can seamlessly claim their rewards and convert tokens with zero friction.”
Seamless Off‑Ramp This isn’t just a nice convenience feature. It shows how quickly DeFi tools are evolving to meet regular people’s needs, not just hardcore traders. VVS Finance has built a broad DeFi hub on Cronos—trading, staking, perpetuals, you name it—and now, with Auto Harvest, it’s easier than ever to turn yield farming into real‑world buying power.
Cronos itself is on the rise: three blockchains (EVM, POS, zkEVM), 500+ apps, over 100 million potential users, and more than $6 billion locked in assets. Since 2021, it’s handled 100 million transactions, and its accelerator, Cronos Labs, has seeded projects with $100 million to spur growth in DeFi and gaming.
Crypto.com, the home of the prepaid card, is no slouch either—six‑year‑old, 140 million customers, and a reputation for nailing security and compliance. Their mantra, “Cryptocurrency in Every Wallet,” feels a lot more attainable now that your yield farming earnings can be spent as easily as your paycheck. In short: if you’ve been farming VVS tokens and keeping your eye on the prize, Auto Harvest just made that prize a lot more tangible—and a lot closer to your next latte.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
Filipínská SEC varuje před dYdX a šesti dalšími kryptoplatformami bez registrace či povolení k nabízení investic v zemi. Upozorňuje i na možné trestní postihy pro jejich propagátory.
The Philippine Securities and Exchange Commission (SEC) has issued a public investor alert warning Filipinos not to invest in dYdX and six other crypto trading platforms, saying they are not registered or authorized to solicit investments in the country.
In a Facebook post on Tuesday, the SEC named dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv and Ostium, stating that based on its findings, the platforms appear to be offering investments to the public in exchange for promised returns, profits or interest.
The regulator said none of the listed entities are registered with the Commission or hold the required authorization under its crypto-asset service provider (CASP) framework, which requires firms offering crypto-related services in the Philippines to obtain licenses and meet capital and operational requirements.
The SEC also warned that individuals promoting any of the listed platforms in the Philippines may face criminal liability under the Securities Regulation Code. Under Sections 28 and 73 of the law, violators could be fined up to 5 million Philippine pesos (about $89,000) or imprisoned for up to 21 years, or both.
The advisory highlights a broader shift toward stricter enforcement in the Philippines, where regulators have increasingly moved from warnings to access restrictions. On Dec. 24, 2025, Philippine regulators blocked Coinbase and Gemini as part of their broader crackdown on unlicensed CASPs.
Philippine SEC advisory against dYdX. Source: Philippine SEC
Broader crackdown on unlicensed crypto operatorsThe latest advisory comes as Philippine regulators continue to step up enforcement against crypto platforms operating without local authorization.
In 2024, authorities moved to block access to Binance after a compliance deadline expired, with regulators also directing app stores to remove the trading platform’s app from users’ devices in the country.
The crackdown has since expanded to include other major platforms. In August 2025, the SEC issued an advisory naming 10 exchanges, including OKX, Bybit, KuCoin and Kraken, for offering crypto services without registration, warning that their activities exposed Filipino investors to risks.
While regulators have targeted unlicensed operators, compliant firms have continued rolling out crypto products. In 2025, PDAX partnered with Toku to enable stablecoin salary payouts, while digital bank GoTyme launched crypto services with Alpaca, allowing users to buy and hold digital assets within its app.
Magazine: Telegram avoids Philippines ban, yen carry trade going onchain: Asia Express
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My Neighbor Alice spouští $ALICE airdropovou akci s odměnami v hodnotě 25 tisíc dolarů před startem Beta Season 2. První ze tří vln začne 16. září a potrvá devět týdnů.
There will be an airdrop offering participants $25K in $ALICE tokens along with additional incentives. The three waves of the $ALICE Airdrop Party will begin on September 16 and last for a total of nine weeks. The first airdrop campaign and the new season campaign have been announced by multiplayer builder game that was formerly the year’s top project on Binance My Neighbor Alice. Prior to Beta Season 2, which is scheduled to begin on September 24, there will be an airdrop offering participants $25K in $ALICE tokens along with additional incentives.
My Neighbor Alice has launched a rewards board in honor of the next beta season, which offers chances to interact with other users and get rewards for participating in quests. $ALICE Airdrop Party, the first rewards campaign to be launched, commemorates the start of the new beta season.
The three waves of the $ALICE Airdrop Party will begin on September 16 and last for a total of nine weeks. Players have a variety of in-game and off-game missions to complete during the campaign. Participants will get unique access to live events and limited edition NFTs in addition to sharing $25K worth of ALICE tokens.
There are several campaigns planned, the first of which is the $ALICE Airdrop Party. The Rewards board acts as a dashboard for tracking individual achievements and determining rewards. Campaigns give the most devoted members of the community something back and provide another reason to play My Neighbor Alice.
Riccardo Sibani, Chief Product Officer at My Neighbor Alice, said: “
Since launching three years ago, we’ve been constantly developing My Neighbor Alice to enhance gameplay, fully decentralize, and provide fun ways for players to share their progress and unlock additional rewards. The $ALICE Airdrop Party provides a taster of what’s to come in Beta Season 2, during which players will be treated to a host of new features and in-game experiences.”
With additional crafting stations, objectives, and levels to explore, Beta Season 2 will improve the gameplay immensely. In addition to freely exchanging goods and resources via the P2P marketplace, players may gather unique emotes and use them to enhance their social interactions inside the game.
One of the upcoming features that is now being developed is the capacity to invite other gamers to collaborate inside the same land plot. Additionally, a decentralized NFT bridge that enables in-game ERC721 token trading as well as the release of a User-Generated Content Tool that will enable content producers to create in-game content are planned.
An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.
My Neighbor Alice se po spuštění mainnetu Chromia stává první plně on-chain a decentralizovanou hrou bez centrálních serverů. Nová beta sezóna má odstartovat 24. září.
Chromia successfully launched its mainnet in July, which was a major turning point in the development of blockchain technology. With its introduction on the Chromia Mainnet, My Neighbor Alice will become the first entirely on-chain game. This breakthrough paves the way for an exciting new chapter in the game’s history. The new beta season of My Neighbor Alice, which is set to launch on September 24th, has been revealed by the Binance Project of the year 2021. It will be the first to run on the Chromia Mainnet, giving players an even more dependable and scalable gaming experience. Additionally, it will be the first completely decentralized and on-chain game ever.
A Journey to Mainnet: Development Process and Blockchain Integration The early Alpha Seasons of My Neighbor Alice served as a milestone in the route to Mainnet launch, focusing on making sure the blockchain infrastructure and underlying technologies are fully functioning, scalable, and decentralized. The blockchain needed to be stress-tested in these early phases to make sure it could manage a large number of transactions and yet provide a seamless gaming experience.
Incorporating suggestions from the core community throughout this round of the “Road to Decentralization” allowed My Neighbor Alice to create a more improved game while maintaining the stability and security of the blockchain.
Mainnet and its Impact on My Neighbor Alice My Neighbor Alice is making a significant advancement in their ongoing journey with the launch of the mainnet. On Chromia, the game is now completely decentralized. Thus, becoming the first game without centralized servers that hosts all game logic on-chain. This is a major advancement for Web3 gaming, demonstrating what is feasible and establishing a new benchmark for the sector.
Riccardo Sibani, Chief Product Officer at My Neighbor Alice stated:
“We built, delivered, and are moving forward, continuing to improve both the game and the technology behind it.”
This move guarantees that the game now runs on a very reliable and secure blockchain, even if it is still in the Beta stage and is still testing new features.
The Chromia blockchain not only hosts all data on-chain and makes My Neighbor Alice the first fully decentralized game, but it also provides developers and gamers with additional features like gasless transactions, advanced querying, and giving each dapp its own chain to ensure scalable and quick transactions.
“We are thrilled to see My Neighbor Alice launch on mainnet, and push the boundaries of Web3 gaming. They have been building both the game and community for a long time and we are excited to see how the game will evolve on mainnet” says Chromia co-founder Henrik Hjelte.
A crypto enthusiast. Loves to write. Gives full dedication to every task assigned. Specializes in delivering on tight deadlines. An animal lover, especially dogs.
Pudgy Penguins se integrují do My Neighbor Alice a držitelé NFT získají exkluzivní oblast Pudgy Land ve Snowflake Wilds. Hráči tam budou moci questovat, craftit a propojovat své NFT přímo ve hře.
The multiplayer game is creating a new winter wonderland zone for everyone and a private enclave for owners of the popular NFTs.
Pudgy Penguins are getting their metaverse on again.
Not satisfied with staying confined to their own Pudgy World metaverse, Pudgy Penguins are expanding into a new virtual world, according to a press release shared with The Defiant. The beloved NFT brand is integrating with My Neighbor Alice, a web3 multiplayer game, as part of a broader partnership.
A core part of the partnership is a special zone in the game built for Pudgy Penguin NFT collection holders. My Neighbor Alice will feature a special Pudgy Land region in its new Snowflake Wilds, “a frosty, feel-good winter wonderland” area of the game.
While Snowflake Wilds are open to everyone, Pudgy Land is exclusively for owners of Pudgy Penguin NFTs, including Lil Pudgys and Pudgy Rod collection holders. Pudgy Land is a part of the game “where the community can hang out, quest, craft, and connect,” according to the press release.
Holders of Pudgy Penguins and Lil Pudgys will enter the game with their NFT as an egg that hatches to become their specific NFT. Holders of Pudgy Rods, which are fishing rods created to accompany each Pudgy Penguin NFT, will be able to equip them with custom fishing rod skins and use them to catch special fish.
“With this partnership we're pushing the envelope when it comes to interoperability,” said Steve Haßenpflug, vice president of games at ChromaWay and My Neighbor Alice in a statement, continuing:
“Now, Pudgy holders can see their own unique NFTs come to life in-game, interact with the world, enjoy exclusive gameplay and even create new experiences for others. That’s the power of connected ecosystems and a big step towards the open metaverse.”My Neighbor Alice is built on the Chromia blockchain, where players can own, trade and sell virtual asset NFTs. Pudgy Penguins NFT collections are based on Ethereum.
Penguins EverywhereThe Pudgy Penguin brand’s own Pudgy World metaverse, built on ZKSync, is currently in closed beta but promises to launch “soon.”
December’s launch of the project’s Solana-based PENGU token via airdrop was controversial, and characterized by high volatility for both the token and the NFT collection, with Pudgy Penguins’ floor price spiking as high as 25 ETH as the launch approached. It is currently 9.24 ETH, according to NFTPriceFloor.
Last month, Pudgy Penguins waddled over to the TON blockchain, allowing 1 billion-plus Telegram users to play Pengu Clash, a multiplayer skill game with mini-games like darts, football and bomber with token-based incentives, tournament rules, unlockable gear, accessories and team cosmetics, according to Pudgy Penguins. It is “pay-to-win” free, the company said in a release.
Also in May, Pudgy Penguins revealed that it was expanding its off-chain activities beyond physical plushies to publishing a children’s book with Random House titled “The Worst Birthday Present Ever.”
NFT prices have dropped dramatically since the airdrop high, which lasted through January, but could be going up if the Securities and Exchange Commission green-lights Canary Capital’s proposed Pudgy Penguin ETF, which will hold PENGU tokens as well as up to 15% of its assets in Pudgy Penguin NFTs.
PENGU is up about 2% on the day and 16% on the week, according to The Defiant’s price data.
Elliptic uvedl, že Lazarus Group po hacku Bybit vyprala přes eXch ukradené prostředky za více než 75 milionů USD. eXch přesto odmítla transakce blokovat.
The Lazarus Group has laundered stolen crypto from last week’s record-shattering Bybit hack through the exchange eXch, according to the blockchain research firm Elliptic.
Hackers looted nearly $1.5 billion worth of Ethereum (ETH) and Lido Staked Ether (stETH) from Bybit on Friday.
[adinserter block="1"]
The attack represented the largest crypto hack ever and possibly the biggest heist in world history.
Elliptic, pseudonymous on-chain investigator ZachXBT and other researchers have pinned the exploit on the Lazarus Group, a prolific North Korean cybercriminal outfit known for numerous high-profile hacks on major crypto platforms.
In a new analysis, Elliptic notes that Lazarus’ money-laundering process typically follows the same steps. First, the group exchanges any stolen tokens for a native blockchain asset like Ethereum, because ETH can’t be frozen by a central authority.
Source: Elliptic Subsequently, the cybercriminal outfit “layers” the stolen funds through multiple wallets, exchanges, cross-chain bridges and crypto mixers to obfuscate the transaction trail.
Elliptic says that Lazarus is currently in the middle of the second step.
“Within two hours of the theft, the stolen funds were sent to 50 different wallets, each holding approximately 10,000 ETH. These are now being systematically emptied – as of 1pm UTC on February 24, 14.5% of the stolen assets (now worth $195 million) have been moved from these wallets.
Once moved out of these wallets, the funds are being laundered through various services, including DEXs (decentralized exchanges), cross-chain bridges and centralized exchanges.
However, one service has emerged as a major and willing facilitator of this laundering. eXch is a cryptocurrency exchange, notable for allowing its users to swap cryptoassets anonymously. This has led them to being used to exchange hundreds of millions of dollars in crypto assets derived from criminal activity, including multiple thefts perpetrated by North Korea. Despite attempting to conceal this activity, our analysis shows that since the hack, crypto assets stolen from Bybit worth over $75 million have been exchanged using eXch. Despite direct requests from Bybit, eXch has refused to block this activity.”
Over the weekend, eXch took to the BitcoinTalk forum to deny claims it was laundering crypto for Lazarus, though it did cop to processing an “insignificant” portion of the stolen Bybit funds.
“1. eXch is NOT laundering money for Lazarus/DPRK (North Korea).
2. The insignificant portion of funds from the ByBit hack eventually entered our address 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 which was an isolated case and the only part processed by our exchange, fees from which we will be donated for the public good.
3. Any claims by ZachXBT and others on Twitter regarding transactions not related to 0xf1da173228fcf015f43f3ea15abbb51f0d8f1123 that are falsely attributed to eXch are a targeted FUD attack on our exchange.”
Bybit CEO Ben Zhou says the firm has restored a 1:1 backing on all client assets after the record-setting hack, and the Dubai-based exchange announced a full restoration of services on Saturday.
In a positive development for the crypto community, the individual responsible for the GMX exploit accepted the platform’s bounty and returned over $40 million worth of assets stolen from the project.
Crypto Hacker Takes $42 Million From GMX On Friday, the recent GMX V1 exploit ended on a happy note after the individual responsible for the incident turned into a white-hat hacker. Perpetual and spot crypto exchange GMX lost over $40 million on Wednesday when an attacker exploited a vulnerability in the protocol’s first version on Arbitrum.
According to online reports, GMX V1’s vault contract had a vulnerability that allowed the attacker to manipulate the GLP token price through the system’s calculations.
Blockchain security firm SlowMist explained that “The root cause of this attack stems from GMX v1’s design flaw, where short position operations immediately update the global short average prices (globalShortAveragePrices), which directly impacts the calculation of Assets Under Management (AUM), thereby allowing manipulation of GLP token pricing.”
Through a reentrancy attack, they successfully established massive short positions to manipulate the global average prices, artificially inflating GLP prices within a single transaction and profiting through redemption operations.
As a result, approximately $42 million worth of assets, including Legacy Frax Dollar (FRAX), wrapped bitcoin (WBTC), wrapped ETH (WETH), and other tokens, were transferred from the GLP pool to an unknown wallet.
The perpetual crypto exchange halted GMX V1’s trading and GLP’s minting and redeeming on both Arbitrum and Avalanche to prevent another attack and protect users’ funds. However, they clarified that the exploit was limited to GMX’s V1 and its GLP pool. GMX V2, its markets, or liquidity pools, and the GMX token were not affected and remained safe.
White-Hat Claims $5 Million Bounty Following the incident, GMX sent a message on-chain and on X offering a $5 million white-hat bounty to the attacker, claiming that their abilities were “evident to anyone looking into the exploit transactions.”
GMX’s team noted that returning the funds within the next 48 hours and accepting the bounty would allow the hacker to “spend the funds freely,” instead of taking additional risks to access them. They also vowed not to pursue any legal action and to assist the exploiter in providing proof of source for the funds if it is ever required.
Today, the exploiter responded in an on-chain message, accepting the bounty and starting the return process. As Lookonchain reported, they initially returned $10.49 million worth of FRAX on Friday morning.
GMX exploiter accepts white-hat bounty. Source: Lookonchain on X Meanwhile, another $32 million worth of assets had been swapped into 11,700 ETH, which are now valued at $35 million after the King of Altcoins’ price jumped to the $2,990 mark.
In the following hours, the hacker returned 10,000 ETH, worth $30 million, keeping only 1,700 ETH, valued at $5.2 million, as the bounty.
GMX later confirmed that the funds have now been safely returned and thanked the white-hat hacker for their actions, ultimately giving a positive turn to the incident.
Lastly, they informed users that “contributors are working on a proposed distribution plan for presentation to the GMX DAO and will share more information shortly.”
GMX token trades at $13.24 in the one-week chart. Source: GMXUSDT on TradingView Featured Image from Unsplash.com, Chart from TradingView.com
Zakladatel Mochi Finance Azeem Ahmed prodal 550 285 CVX za zhruba 946 000 USD, což poslalo CVX dolů o více než 10 %. On-chain vyšetřování zároveň tvrdí, že v DeFi bylo odkloněno přes 8 milionů USD a celkové ztráty přesahují 54 milionů USD.
Mochi founder Azeem Ahmed sold 550K CVX from a Curve-linked stash as on-chain probes allege over $8M in diverted rewards and $54M in DeFi losses.
Summary
Mochi Finance founder Azeem Ahmed sold about 550,285 CVX for roughly $946,000, pushing the token down more than 10%. The CVX stack traces back to a 2021 Curve pool drain that left liquidity providers with an estimated $54 million in losses. Ahmed now faces years of on-chain fraud allegations spanning at least four DeFi projects, with diverted rewards and liquidity drains topping $8 million. Azeem Ahmed, founder of Mochi Finance and GaiaDAO, has sold approximately 550,285 Convex Finance (CVX) tokens from wallets linked to a 2021 Curve Finance drain, netting around $946,000 and triggering a double‑digit intraday slide in CVX’s price. On March 19, the tokens were liquidated at an average price of about $1.72, sending CVX from roughly $1.88 to $1.68, a drop of more than 10% according to on-chain data reviewed by Crypto Daily. The proceeds were routed to a multisig associated with the Mochi protocol, which held about $864,858 in assets after the sale, while another 500,000 CVX remain locked on Convex Finance.
The CVX position itself originates from Mochi’s controversial November 2021 move to mint its USDM stablecoin against MOCHI and drain roughly $46 million in DAI-equivalent liquidity from the USDM/3CRV pool on Curve. At the time, Mochi used 10 billion MOCHI tokens—assigned a hard‑coded oracle price despite near‑zero market value—to mint 46 million USDM, convert the proceeds into 9,876 ETH, and purchase about 1,050,285 CVX, which were then locked on Convex Finance, according to certified crypto‑trace reports by forensics firm IFW Global. Curve’s Emergency DAO responded by killing Mochi’s gauge and blocking further emissions after characterizing the maneuver as a “clear governance attack,” a clash that became part of the broader “Curve Wars” over CVX and CRV voting power and emissions.
From “peg rebalancing” to diverted rewards In the aftermath, Ahmed re-emerged through GaiaDAO with a Peg Rebalancing Module (PBM) pitched as a mechanism to distribute CVX staking rewards from the locked position to USDM holders and gradually restore the stablecoin’s peg. The PBM charged a 2% management fee and 20% performance fee payable to Ahmed, but according to Curve governance forum records, he unilaterally hiked the performance fee to 50% before community backlash forced him to reverse the change. By November 2025, reward distributions from the 1,050,285 vlCVX position had stopped entirely, and on-chain data indicates those rewards were rerouted to a wallet that also acts as a signer on the CVX multisig, with the value of diverted staking rewards alone estimated at more than $1.6 million.
Beyond staking flows, investigators allege that about 2,198 ETH—worth roughly $6.67 million at the time—and $471,429 in USDC were drained from Mochi/ETH liquidity pools and never returned to depositors, while airdrops from protocols including Prisma, CNC, VELO, LFT, and YB reportedly remained unclaimed or undistributed. Aggregate investor losses tied to the Mochi ecosystem and its associated pools are now estimated at over $54 million, according to IFW Global’s certified reports.
A pattern of disputes and legal risk Ahmed’s track record stretches back to at least 2020 and spans Yieldfarming.insure (SAFE), Armor.fi, Mochi Finance, and GaiaDAO, with repeated accusations of misappropriating community funds. During the original Mochi‑Curve confrontation, Curve alleged that Mochi’s strategy amounted to a governance attack, while Ahmed insisted in an interview with Crypto Briefing that the team had simply taken a “bold approach to gaining voting power in the DAO” and argued that the “DeFi Cartel … feels threatened that a small player on the outskirts” could challenge incumbents. Robert Forster, Ahmed’s former co‑founder at Armor.fi, later accused him publicly of stealing “millions in LP tokens,” a charge Ahmed denied by claiming the funds were “returned in full” and counter‑alleging that Forster had taken money for personal use.
Legal pressure has also followed the on‑chain drama into courts. A prior lawsuit by an Armor.fi user in San Francisco Superior Court (Chen v. Ahmed, Case No. CGC‑21‑589609) ended in an out‑of‑court settlement after a temporary restraining order application, according to filings referenced in IFW Global’s reports. Attorneys now point to potential U.S. claims spanning securities fraud under Section 10(b), racketeering (RICO), common‑law fraud, conversion, and unjust enrichment, and affected investors have been directed to file complaints with the Securities and Exchange Commission, Commodity Futures Trading Commission, and the FBI’s IC3 portal.
What Ahmed’s latest sale means for CVX and DeFi Ahmed’s March 19 liquidation is the most aggressive on-chain move from Mochi‑linked wallets since the 2021 Curve incident and is being read by many affected investors as confirmation that the locked CVX will be used for exit liquidity rather than restitution. With roughly 500,000 CVX still locked on Convex Finance and controlled via the same governance structure, any further sales could become major liquidity events for CVX and reignite questions over how DeFi protocols respond when governance power is acquired through exploits rather than open‑market buying. Ahmed, described in IFW documentation as a UK citizen, has not publicly responded to the latest allegations, and his social media profiles have been inactive for months.
Dlouholetý vývojář Bitcoinu Paul Sztorc navrhuje hard fork eCash na výšce bloku 964 000 v srpnu 2026, který by držitelům BTC přidělil ekvivalentní tokeny. Plán ale vyvolal odpor kvůli přesunu mincí spojených se Satoshi Nakamotem.
Long-time Bitcoin developer proposes a Bitcoin hard fork. (geraldfriedrich2/Pixabay)Summary
Paul Sztorc proposes a 2026 hard fork of Bitcoin called eCash, giving BTC holders equivalent tokens and adding Drivechains. A hard fork splits a blockchain into a new network with shared history but different rules, like Bitcoin Cash in 2017. The plan is controversial for reallocating coins tied to Satoshi Nakamoto, which critics call unethical and risky.Long-time Bitcoin developer Paul Sztorc has been trying to overhaul Bitcoin's architecture since 2015, but the broader community hasn’t budged.
So now he has proposed a dramatic step, called eCash hardfork, that involves copying Bitcoin's code to launch a separate version in August, while giving existing bitcoin holders equivalent tokens in the new network for free.
The community, however, is criticizing the funding part, which involves reassigning coins linked to Bitcoin’s missing founder, Satoshi Nakamoto.
Think of a hard fork like a railway line splitting into two. Trains start from the same station, but at some point the line splits, helping trains reach completely different destinations.
When a group of developers cannot reach consensus on a proposed change to Bitcoin’s code, they copy the existing blockchain and launch it as a separate chain, which shares Bitcoin’s entire history up to the point of the split, but diverges after the split, moving forward with its own rules, features, token and direction.
That's precisely what happened in 2017 when the debate over Bitcoin's block size reached a tipping point, culminating in a chain split and the creation of the Bitcoin Cash blockchain with its native token, BCH.
The technical dispute centered on Bitcoin's 1MB block size limit, which caps the number of transactions that can be processed every 10 minutes when new blocks are added to the blockchain. Hence, some favoured increasing the block size, but the community remained divided, eventually leading to a chain split.
Sztorc's eCash hard forkThe proposed hard fork will create a new chain called eCash with native eCash tokens. “Hold 4.19 BTC at the time of the fork, get 4.19 eCash. You can sell it, keep it, or ignore it entirely,” he said on X.
The fork is scheduled for Bitcoin block height 964,000 in August 2026. A coin-splitter tool will be released to help holders cleanly separate their BTC from their new eCash.
The new chain will be a near-copy of Bitcoin's existing blockchain, with one critical addition called Drivechains, a scaling architecture Sztorc first proposed in 2015 and formally submitted to Bitcoin developers as BIP300 and BIP301 in 2017 and 2019, respectively.
Drivechains are sidechains tethered to the Bitcoin blockchain, allowing seamless movement of BTC between the main chain and sidechains without changing Bitcoin's base layer. Each sidechain can operate under its own rules and features, essentially allowing developers to build new capabilities on top of Bitcoin without requiring the entire network to adopt those changes.
Think of Drivechains as service roads attached to the main highway. When the highway is congested, drivers can exit the highway and travel on the service road at different speed limits, then re-enter the highway when it's clear. This way, the highway never changes, yet more traffic is handled more efficiently, and the journey becomes more flexible for everyone.
Seven Drivechains are already in development, Sztorc said on X, including a privacy chain modelled on Zcash, a prediction market called Truthcoin, a decentralised exchange called CoinShift, and a quantum-resistant chain called Photon.
The controversial part linked to Satoshi coinsSztorc wants to use coins that would have gone to Satoshi Nakamoto's equivalent addresses on the new eCash chain to bring investors on board before the fork goes live, a decision he calls necessary but which has riled the community, with some calling it outright theft.
A potential hard fork would bring Bitcoin’s entire transaction history to the new chain. So every bitcoin balance, including Satoshi’s 1.1 million bitcoin, sitting untouched in wallets that have noved moved these coins, would show up as an equivalent eCash balance on the new chain.
As per the plan, fewer than half of the Satoshi-equivalent eCash coins will be assigned to investors today. The precise mechanism of how it's being done remains unclear. But since eCash doesn't yet exist, the pre-hard fork assign seems to be a promised credit following a successful hard fork.
The plan, he argues, will ensure collaborators have a tangible incentive to get involved early, building momentum and completing work ahead of launch. Without this mechanism, the project can turn into a "zombie project" that ships unfinished. Worse, it could become a centralized project, where a small group of developers gains outsized control over the chain's direction.
The industry response, however, has been negative.
“Taking Satoshi coins is theft and disrespectful, and eCash is already used for Lightning payments with Cashu and Fedi. Those are poor choices,” Bitcoin advocate Peter McCormack said.
Josh Ellithorpe, chief technology officer at Pixelated Ink, expressed concerns about the precedent it sets and how it could eventually be a risk to everyone’s BTC holdings.
“eCash, setting the precedent that they can and will steal coins. Now it's Satoshi, but it could be anyone later. Also misrepresenting the BCH fork, stealing another project's name, and not having replay protection,” Ellithorpe said.
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
MegaETH spustil program zpětného odkupu MEGA financovaný čistě z čistého výnosu ze stablecoinu USDm nashromážděného do konce dubna. Další odkupy mají běžet automaticky podle změn nabídky USDm a výnosu rezervních aktiv.
MegaETH has activated a MEGA token buyback program funded entirely by net revenue from its USDm stablecoin, turning Treasury‑backed yield into a standing bid for its “real‑time Ethereum” L2 token after a sharp post‑launch selloff.
Summary
The MegaETH Foundation has kicked off a MEGA token buyback program, completing its first purchase using all net earnings generated by USDm through the end of April. USDm’s current supply is about $480 million, and future MEGA buybacks will run programmatically, with size determined by USDm supply and yield on its reserve assets. The foundation stresses that USDm is not issued or operated by MegaETH or MegaLabs, even as its revenue stream becomes a core economic engine for MEGA demand. The MegaETH Foundation says its MEGA token buyback plan is now live, with the first repurchase funded entirely by net earnings from USDm accumulated through the end of April. In an announcement on X, the foundation said it had “completed the first MEGA buyback using all net income generated by USDm’s issuer as of April 30,” framing the move as the start of an ongoing demand loop where the ecosystem’s stablecoin revenue is recycled into the native token.
MEGA buyback goes live, tied directly to USDm revenues Importantly, the foundation reiterated that “USDm is not issued or operated by the MegaETH Foundation or MegaLabs,” clarifying that the stablecoin’s issuer is a separate entity even though its economics are tightly coupled to MEGA. USDm is a yield-bearing stablecoin built on Ethena’s USDtb rails, with reserves primarily invested in BlackRock’s tokenized U.S. Treasury fund BUIDL via Securitize, alongside liquid stables for redemptions. Those reserves generate a predictable yield, which flows to the USDm issuer and, under the new scheme, is then used as the funding source for MEGA buybacks.
CoinMarketCap’s overview of MegaETH notes that the MEGA token has a fixed supply of 10 billion and is used for gas, staking and governance within the “real-time Ethereum” L2, which targets sub-millisecond latency and over 100,000 transactions per second. By tying MEGA buybacks to USDm’s revenues, the foundation is effectively turning stablecoin growth and on-chain economic activity into a direct support mechanism for MEGA’s price and scarcity.
Programmatic buybacks, variable size, and market impact According to the foundation, future MEGA buybacks will be executed “as programmatically as possible,” running automatically according to preset rules instead of being manually timed by the team. The size of each operation “will not be fixed,” it said, but will depend on “changes in USDm supply and the yield of the underlying reserve assets,” meaning that as USDm circulates more widely and its Treasury-backed yield rises or falls, the buyback firepower will adjust in tandem.
Earlier this year, the MegaETH Foundation outlined a broader economic model in which USDm functions as an “economic engine” for the L2: yield from its reserves is used to subsidize sequencer costs and network fees and, now, to fund ongoing MEGA purchases from the market. MEXC’s summary of the plan notes that USDM (often stylized as USDm) “is backed by Ethena and BlackRock’s BUIDL fund,” and that the project will “trigger MEGA token generation based on KPIs” such as reaching $500 million in USDm circulation, launching 10 apps on MegaETH, or having at least three apps generate $50,000 in fees for 30 consecutive days. DefiLlama data show USDm’s broader MegaETH stablecoin stack now has a market cap of about $810.6 million, with USDm itself accounting for roughly 58% dominance, implying a USDm supply in the neighborhood of $470–$480 million.
The timing of the first buyback is notable. AInvest reported that MEGA fell about 38% from its April 30 launch price to $0.138 amid heavy post‑TGE selling pressure from early participants. CoinMarketCap’s explainer on MegaETH says the ecosystem was designed from the outset to “use its native stablecoin’s reserve yield to fund MEGA buybacks,” positioning this week’s announcement as the moment when that theoretical flywheel actually starts to spin. If USDm continues to grow and on-chain yields remain robust, the programmatic buyback mechanism could become a persistent marginal buyer of MEGA in secondary markets, linking the token’s long-term value more tightly to real usage and stablecoin demand rather than one-off hype cycles.
MiniPay spouští digitální debetní kartu Visa poháněnou Gnosis Pay. Uživatelé mohou utrácet stablecoiny u více než 175 milionů obchodníků, kteří přijímají Visa.
MiniPay, Opera's self-custodial stablecoin wallet, has launched the MiniPay Card: a digital Visa debit card powered by Gnosis Pay. Eligible users can now spend their stablecoin balances across Europe (EEA), Africa, Latin America and Southeast Asia at more than 175 million Visa merchant locations worldwide. Gnosis Pay manages the card program behind it.
MiniPay already had the wallet, the users, and the balances. What its users did not have was a way to spend those balances at a normal checkout. Gnosis Pay closes that gap. We built the card program so a wallet can connect its stablecoin balances to Visa without becoming a card issuer, a bank, or a payments company itself.
The last meter problemIn a lot of markets, people already save and get paid in digital dollars. Holding stablecoins is solved. Spending them is the hard part.
A balance sitting in a wallet does not pay for groceries, a bus fare, or a subscription. To do that, the money has to reach a merchant through rails the merchant already accepts. For most of the world, that means Visa. Friederike Ernst, co-founder of Gnosis, puts it this way:
"For someone in Lagos or Nairobi who already holds savings in digital dollars, the missing piece isn't the wallet. It's the last meter. The ability to spend those balances at a checkout in another country without the merchant needing to know or care about crypto."
The last meter is the distance between a stablecoin balance and a card terminal. It is short, and it is where most stablecoin products stop. The MiniPay Card covers it.
What the MiniPay Card isThe MiniPay Card is a digital Visa debit card that lives inside the MiniPay wallet. Users add it to Apple Pay or Google Pay and spend with a tap, online or in person, anywhere Visa is accepted. The balance in the wallet is the balance on the card.
Behind the familiar card experience sits a stablecoin card program. When a user taps, their stablecoin balance is settled to Visa in real time, and the merchant is paid in their local currency. The merchant sees a normal Visa payment.
How Gnosis Pay powers itGnosis Pay is the card program manager for the MiniPay Card. That means we handle the technical layer that turns a wallet balance into a working card, and we coordinate the regulated parts of the stack rather than performing them ourselves.
Here is how the pieces fit:Issuing. The card is issued through Monavate's regulated card issuing, on Visa's global network. Gnosis Pay is the program manager around that.
Settlement. When the card is used, the stablecoin balance is bridged to Visa in real time. The merchant receives local currency with no crypto-specific setup.
Self-Custody. Funds stay in the user's self-custodial wallet until the moment of spending. MiniPay users keep control of their balances.
Onboarding. A wallet that already has users can pass its existing user base and verification into the program, rather than starting from zero.
This is the work that usually takes a wallet many months to assemble piece by piece: an issuer relationship, a Visa program, settlement, and the compliance coordination to run it across markets. Gnosis Pay packages it so a fintech, neobank or wallet can ship the card instead of building a card company.
Key takeaway: As the card program manager, Gnosis Pay connects a wallet's stablecoin balances to Visa in real time, so the merchant gets paid in local currency and never has to know crypto was involved.
Who it is forThe MiniPay Card launches into an existing base. Since 2023, MiniPay has grown to more than 16 million activated wallets, with strong adoption across Africa and other high-growth regions. The card is available to eligible users in selected markets across Europe (EEA), Africa, Latin America and Southeast Asia, anywhere Visa is accepted.
It also builds on what MiniPay already shipped. After introducing Virtual Bank Accounts, which let users receive money straight into their wallets as stablecoins, the card adds the other half: a way to spend those balances online and in person. Money in, money out, in one wallet.
Why this matters beyond MiniPayMiniPay is one wallet. The pattern is the point. Any wallet or fintech with users and stablecoin balances faces the same last meter, and the same choice: build a card company, or plug into a card program that already runs. Gnosis Pay is built for the second path. We did the same integration work for MiniPay that any partner would do, making this launch a template for future wallet integrations.
It also fits how Gnosis thinks about money. Stablecoins should work like money, which means they have to be spendable. A balance you can hold but not spend is a savings account with extra steps. A balance you can tap at any Visa terminal is closer to the thing money is supposed to be.
Tip: If you run a wallet or a fintech, the rails behind the MiniPay Card are the same ones you integrate with Gnosis Pay. The build starts in the docs.
Availability, fees, and rewardsThe MiniPay Card is launching to eligible users in selected markets. Find details on availability and product features at minipay.to/virtual-card.
Fees. No monthly or annual fee. Transactions carry a low nominal FX fee and ATM withdrawal fee.
Wallet integration. The card works with Apple Pay and Google Pay for contactless payments.
Rewards. In selected markets, the card offers cashback in digital assets, including Tether Gold (XAUt0), USDT and USDC.
This launch continues the path Gnosis Pay has been on, from remittances to retail: making stablecoin balances usable in the places people spend. It is also a working example of the ownership-first model we have been building toward, where users keep custody and still get the convenience of a card.
FAQWhat is the MiniPay Card?
The MiniPay Card is a digital Visa debit card inside Opera's MiniPay wallet. It lets eligible users spend their stablecoin balances at over 175 million Visa merchants, online or in person.
Where can you use the MiniPay Card?
It is available to eligible users in selected markets across Europe (EEA), Africa, Latin America and Southeast Asia, and it spends anywhere Visa is accepted.
Do you need crypto knowledge to use the MiniPay Card?
No. Users add the card to Apple Pay or Google Pay and tap to pay. It spends like any other contactless Visa card.
How is the MiniPay Card different from a regular debit card?
It spends from your own self-custodial stablecoin balance instead of a bank account. You keep custody of your funds until the moment you tap.
Do merchants need to accept crypto?
No. Merchants are paid in their local currency and see a normal Visa payment. They do not need to accept crypto or set anything up.
Build your card programThe last meter is closed for 16 million wallets. The next ones are the wallets and fintechs that have not shipped a card yet, and the rails are ready for them.
If you are building one, book a demo or learn more on gnosispay.com.
WOO X přišel o zhruba 14 milionů USD při útoku připisovaném aktérovi napojenému na KLDR. Hacken uvádí, že většina prostředků už byla převedena do Bitcoinu.
On July 24, 2025, Taiwan-based trading platform WOO X became the latest victim in a bruising summer of crypto breaches when attackers made off with roughly $14 million in unauthorized withdrawals from nine user accounts, forcing the exchange to pause withdrawals while it investigated and promised to reimburse affected users.
New chain-analysis shared by Yehor Rudytsia, Head of Forensics and Incident Response at Hacken, paints the post-heist picture as far more organized than a one-off theft. According to Rudytsia, the exploit, which Hacken dates to July, resulted in total losses of about $14 million and was carried out by a DPRK-linked actor tracked in law-enforcement circles as “TraderTraitor.”
Hacken says it is actively monitoring the on-chain movements and is supporting recovery efforts by flagging malicious addresses to the wider security community. The laundering choreography, as mapped by Hacken, left half the stolen funds on EVM networks and the rest on Tron and Bitcoin.
In the last 24 hours, on-chain traces show that the bulk of the EVM-side proceeds, more than $7 million, were routed through THORChain and swapped into Bitcoin, a technique observers have increasingly flagged as a common laundering path after major exchange thefts earlier this year. Rudytsia noted that THORChain’s native cross-chain swap functionality has repeatedly been used to convert large sums of ETH and ERC-20 tokens into BTC, making it attractive to sophisticated operators moving stolen assets across ecosystems.
On-chain Evidence Hacken’s report also documents the handling of the Tron-denominated portion (about $2.5 million in TRX). Those funds, the team found, were converted into USDT, bridged to Ethereum via LayerZero infrastructure, and from there, some of the bridged USDT was again pushed to Bitcoin through THORChain.
On-chain evidence of a nine-figure USDT transfer arriving on Ethereum from a LayerZero executor appears in public transaction records from October 1, 2025, which match the pattern Hacken described.
Complicating the trail, part of the funds that surfaced on Ethereum were sent to a wallet previously tied to the BingX hot-wallet exploit in 2024, itself attributed by investigators to North Korean-linked groups, suggesting either reuse of laundering infrastructure or coordination across multiple thefts.
The address that received those transfers is publicly visible on Ethereum explorer records, and investigators say the link deepens the picture of an organized laundering chain connecting multiple high-profile incidents.
Taken together, the movements indicate that roughly $8–9 million from the WOO X breach was bridged on the same day from Ethereum to Bitcoin, almost entirely via THORChain, leaving an estimated 90% of the stolen value now sitting on Bitcoin addresses as perpetrators accelerate conversion into the oldest and most liquid on-chain asset.
Security teams monitoring the flows warn that once funds consolidate on Bitcoin, conventional tracing and intervention become harder and the risk of eventual cash-out increases. Rudytsia told Blockchain Reporter that Hacken is continuing to monitor the accounts and will push flagged addresses to exchanges and compliance partners in the hope of freezing or otherwise freezing flow paths where possible.
For now, the case is a fresh reminder that as cross-chain tooling gets more powerful, it also gives sophisticated attackers faster, lower-friction routes to turn stolen tokens into harder-to-trace assets, and that forensic work on multiple chains, together with cooperation from on- and off-ramp services, remains the only immediate line of defence in today’s time.
AUTHOR
Mushumir Butt is a seasoned crypto journalist with over three years of experience reporting on the world of blockchain and cryptocurrency. At Blockchain Reporter, he delivers insightful news, in‐depth project reviews, and precise price analysis and predictions. With a strong background in SEO and digital marketing, Mushumir excels at breaking down complex trends into clear, accessible content, ensuring readers stay ahead in the fast‐paced crypto space.
METABORA GAMES spustila Puzzle & Guardians jako MINI App v aplikaci LINE Messenger v Japonsku. Hra je dostupná více než 100 milionům uživatelů LINE bez nutnosti další instalace a nabízí odměny v tokenech BORA.
– Maximizes user accessibility through direct onboarding within LINE Messenger’s MINI App Tab
– Integrates BORA DEEPS to deliver a differentiated gameplay experience for Japanese users
– Strengthens on-chain rewards and BORA token utility, establishing a virtuous ecosystem cycle
METABORA GAMES (CEO Choi Se-hoon), a leading blockchain game developer, announced today the official launch of ‘Puzzle & Guardians’, its joint project with Baligames, as a MINI App on LINE Messenger in Japan through LINE NEXT Start, a group company of LY Corporation that operates Japanese Web3 business.
‘Puzzle & Guardians’ is a hybrid Web3 title that blends casual 3-match puzzle battles with RPG progression. Players can collect and build a roster of Guardians, engage in 1v1 PvP duels and dungeon play, and earn BORA token rewards by completing in-game missions and participating in event leagues.
With this launch, ‘Puzzle & Guardians’ is now onboarded onto the MINI App platform of LINE, Japan’s largest messenger platform, enabling more than 100 million LINE users to play the game instantly inside the LINE Messenger app without any additional installation. The result is a more intuitive, highly accessible play environment.
In conjunction with the Japan launch, METABORA GAMES has integrated ‘Puzzle & Guardians’ with BORA DEEPS, the core infrastructure service of the BORA ecosystem. Through the BORA DEEPS Quest function, players are offered tailored missions optimized for gameplay, and the rewards they earn can be used across BORA DEEPS’ native content — including its ‘Mini Game’ offering and ‘Scratch’, a raffle-style service. The integration creates a natural virtuous cycle of play and reward, deepening user engagement across the platform.
The company also plans to continuously expand localized content tailored to the Japanese market, delivering a differentiated participation experience for local users. Launch commemoration events will follow, further reinforcing real-world utility for the BORA token.
More information about ‘Puzzle & Guardians’ is available on the official BORA DEEPS channels and the LINE platform.
APPENDIX
BORA DEEPS website: https://intro.boradeeps.com/
‘Puzzle & Guardians’ LINE Mini App URL: https://miniapp.line.me/2008992531-yxrGfhQS
METABORA GAMES is a subsidiary of METABORA, a casual and blockchain game developer, and serves as the development studio behind the blockchain platform BORA.
Centered on BORA DEEPS — a platform that organically connects in-game activities with rewards — METABORA GAMES designs user-participation-driven structures and collaborates with global partners to co-develop and operate Web3 projects across a wide range of genres.
Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.
Bitwise podal u SEC registraci pro spotové Avalanche ETF, které má sledovat hodnotu AVAX a držet pouze tokeny AVAX. Do závodu o schválení se tak přidává k VanEck a Grayscale.
Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.
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September 16, 2025
Bitwise Asset Management filed for SEC registration for a spot Avalanche ETF, joining VanEck and Grayscale in the race to offer institutional exposure to AVAX through regulated investment vehicles.
The passively managed fund aims to mirror Avalanche’s value minus operational expenses, with Coinbase Custody serving as the digital asset custodian.
The filing details a Delaware statutory trust structure offering cost-effective exposure to Avalanche through traditional securities markets.
The trust will hold only AVAX tokens and use the CME CF Avalanche-Dollar Reference Rate as its pricing benchmark, calculated daily at 4:00 PM ET from multiple constituent platforms.
Avalanche Foundation is simultaneously raising $1 billion through two crypto treasury vehicles led by Hivemind Capital and Dragonfly Capital.
ETF Arms Race Intensifies as Multiple Firms Target AVAX ApprovalThe Bitwise registration follows VanEck’s March filing and Grayscale’s Form 19b-4 submission through Nasdaq for Avalanche ETF conversion.
Bloomberg Intelligence assigns high approval odds for altcoin ETFs this year, with institutional demand driving applications beyond Bitcoin and Ethereum products.
Bitwise previously experienced regulatory turbulence when the SEC granted accelerated approval for its 10 Crypto Index ETF in July before reversing the decision hours later through a stay order.
The multi-asset fund would have included Avalanche alongside Bitcoin, Ethereum, XRP, and Solana, with 85% allocation to previously approved components.
VanEck launched the Purpose-built Fund specifically for Avalanche-based businesses, utilizing native real-world asset products and tokenized money market funds.
The fund targets capital appreciation through investments in digital assets with a market capitalization of over $100 million across the finance, payments, gaming, and AI sectors.
Grayscale’s pending conversion of its Digital Large Cap Fund to ETF status includes Avalanche alongside Bitcoin, Ethereum, Solana, and XRP.
The fund maintains a 79.9% Bitcoin allocation and an 11.3% Ethereum allocation, with the remaining assets distributed among approved altcoins.
The competitive landscape intensified as major institutions began to engage with Avalanche’s blockchain for portfolio management and digital asset projects.
BlackRock expanded access to its USD Institutional Digital Liquidity Fund to include Avalanche in November 2024, following initial Ethereum availability.
Chairman Paul Atkins established a crypto task force to develop clear rules, following years of “regulation by enforcement” under the previous leadership.
March decisions on multiple altcoin ETFs were delayed until October, with the Commission citing the need for “longer periods” to consider proposed rule changes.
🇺🇸The SEC has delayed decisions on multiple altcoin spot ETFs, including XRP, Solana, and Litecoin, citing the need for more review. Analysts say it’s standard procedure and remain optimistic about approval.
#CryptoETFs #SEChttps://t.co/Q8aODggS0f
— Cryptonews.com (@cryptonews) March 12, 2025 The approval process involves 21-day public comment periods, allowing industry stakeholders to provide input before final decisions are made.
Avalanche’s proof-of-stake consensus mechanism and subnet architecture differentiate it from Bitcoin’s energy-intensive mining.
The network’s three-blockchain structure supports token creation, validator management, and smart contracts, while enabling custom permissioned blockchains that rely on the main network’s security and integrity.
The simultaneous treasury vehicle launches aim to garner serious institutional conviction through SPAC structures and private placements.
Hivemind Capital’s $500 million vehicle aims for September completion, while Dragonfly Capital’s equivalent SPAC targets October finalization.
At the time of writing, AVAX is trading at $29.91, representing technical momentum testing $30 resistance.
Technical Analysis Points to Breakout Momentum Following ETF FilingAVAX exhibits classic descending wedge characteristics on hourly charts, trading at $29.90 near the pattern’s apex with upper trendline resistance and dynamic support convergence.
Source: X/@JeremyybtcThe coiling effect from multiple tests of wedge boundaries creates optimal conditions for explosive directional moves, particularly with ETF-filing catalysts supporting bullish sentiment.
Long-term weekly charts reveal AVAX breaking above significant descending trendlines containing price action since the 2021 peaks near $147.
The macro perspective shows AVAX’s 240% recovery from cycle lows around $8.50, positioning the token in the critical $30-35 resistance zone.
Sustained trading above current breakout levels could open pathways toward $50 with minimal intermediate resistance.
ETF approval precedents from Bitcoin and Ethereum suggest initial announcements generate 50-100% advances within weeks of confirmation.
The technical setup positions AVAX optimally to capture such moves through descending wedge momentum combined with institutional validation.
AVAX’s immediate trajectory targets the $35-40 region following successful wedge breakouts, with long-term potential extending toward $50 levels based on minimal resistance structures.
BitDAO podezírá Alameda Research z porušení dohody z roku 2021 a z prodeje 100 milionů BIT, které měly být drženy bez prodeje. Požádala ji o důkaz o držbě a Alameda následně přesunula více než 100 milionů BIT na svou adresu.
BitDAO (BIT)suspected FTX founder Sam Bankman Fried's venture capital firm Alameda Research of breaching an agreement made in 2021 and selling its 100 million BIT tokens, causing BIT to plummet.
The DAO community asked Alameda to prove that it still owns its BIT tokens, and Alameda responded by transferring over 100 million BIT tokens from an FTX hot wallet to an Alameda address.
BackgroundAlameda published a proposal titled BIP-4 and offered BitDAO to swap 100 million BIT tokens with Alameda for 3,362.315 FTT tokens and make a public commitment not to sell each others' tokens for three years. The proposal was open for voting between Oct. 20 and Oct. 30 2021 and passed with 100% votes of the participants in favor.
The token swaps took place on Nov. 2, 2021, in three transactions, and both parties agreed not to sell them before Nov. 2, 2024.
Coins plummetOn Nov. 8, both BIT and FTT experienced a sharp 20% decline at around the same time. BIT fell from $0.40 to $0.33, while FTT plummeted from $22.12 to $15.36. Both tokens quickly recovered from a portion of their losses. At the time of writing, BIT is being traded for $0.39, while FTT is priced at $18.184.
BITUSDFTTUSDIn light of recent speculation about FTX's financial stability, the BitDAO community suspected that Alameda may have sold its BIT holdings and caused the sudden dump of both FTT and BIT.
BitDAO's founder and CEO Ben Zhou Tweeted to explain their suspicions and announced that they are asking for proof of funds from Alameda.
Bitdao community is questioning the sudden dump of $bit token caused by Alameda dumping and breaching the 3 yr mutual no sale public commitment. Nothing is confirmed but bitdao community would like to confirm a proof of fund from Alameda. https://t.co/YassKhcdPt
— Ben Zhou (@benbybit) November 8, 2022
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The BitDAO community ensured that the 3,362.315 FTT tokens were safe and sound in the BitDAO treasury, and asked Alameda to ensure BitDAO by transferring the 100 million BIT tokens into an on-chain address so that the BitDAO community can verify.
BitDAO community warned that if Alameda fails to provide sufficient proof of funds within 24 hours:
“It will be up to the BitDAO community to decide (vote, or any other emergency action) how to deal with the $FTT in the BitDAO Treasury.”
FTX respondsResponding to BitDAO's request, over 100 million BIT tokens were transferred from an FTX hot wallet to Alameda's address.
This address is the original address that Alameda agreed to receive its BIT tokens in when the deal was inked in 2021.
BitDAO, a decentralized autonomous organization with a treasury worth over $1.7 billion, has launched an Ethereum Layer 2 network called Mantle, the DAO announced on Wednesday.
Mantle is a modular Ethereum Layer 2 chain. Modular networks are a new way of designing blockchains and are different from the older monolithic chains, where all network functions happen on the base layer. On modular blockchains, there are separate layers for network consensus, transaction execution and settlement, as well as data availability. This type of design is said to create networks that are more efficient and have greater scalability.
BitDAO’s Layer 2 network stack has three distinct layers, according to the announcement. One layer is for transaction execution while the other two handle transaction finality and data availability, respectively.
Mantle is BitDAO’s attempt to solve some of the challenges facing Layer 2 networks, a spokesperson for the DAO told The Block. “BitDAO aims to bring the spotlight back from Alt-L1s to Ethereum and give market participants the best web3, DeFi and GameFi have to offer,” said the spokesperson.
Mantle will reportedly offer superior features compared to other Layer 2 networks. BitDAO’s Layer 2 network will come with faster throughput and low fees, and be powered by a decentralized data availability layer, the announcement stated. Transaction fees on Mantle will be paid using BitDAO’s governance token, BIT.
EigenLayer, an Ethereum middleware platform, is one of the partners in the project. As such, early adopters can use EigenDA, a custom-built data availability layer designed by EigenLayer that supports Optimistic and ZK-Rollups — the two major types of roll-up technology.
Wednesday’s announcement marks the soft launch of the Layer 2 network. Mantle is expected to roll out an incentivized public testnet next year.
A BitDAO spokesperson confirmed that DAO partners can deploy protocols on Mantle when launched. Unlike most DAOs built around specific DeFi projects, BitDAO is more of an investment DAO. BitDAO’s mandate is to grow the web3 ecosystem by providing grants to projects and supporting web3-based research activities. BitDAO has the second-largest DAO treasury in the crypto space.
“Mantle will serve as the connective tissue for various BitDAO initiatives, such as projects from Game7, research from EduDAO, to the ecosystem of dApps being enabled by BitDAO," said jacobc.eth, product head at BitDAO’s Windranger Labs, adding: "Mantle is BitDAO’s demonstration to scale Ethereum and web3, enabling a whole new generation of use cases and innovations.”
