TLDRGE VernovaConstellation EnergyNextEra EnergyFinal ThoughtsGet 3 Free Stock Ebooks GE Vernova projects 16–18% organic revenue expansion in its power division for 2026, alongside free cash flow targets of $4.5–$5 billion Constellation Energy aims for annual EPS growth exceeding 20% between 2026 and 2029, supported by its Calpine purchase and $5 billion buyback plan NextEra Energy increased its 2026 EPS forecast and maintains expectations for 8%+ annual earnings growth extending to 2032 Share repurchase programs have been announced or enhanced by all three firms, demonstrating strong financial confidence The trio presents distinct investment profiles: GE Vernova emphasizes aggressive expansion, Constellation focuses on earnings momentum, NextEra delivers reliability Three prominent energy sector players—GE Vernova, Constellation Energy, and NextEra Energy—have recently unveiled strategic roadmaps and financial projections that have captured the attention of growth-oriented investors. While all three participate in the broader energy landscape, their operational focuses differ substantially. Their latest disclosures provide valuable insight into their respective trajectories through 2026 and beyond.
The investment thesis around energy companies has evolved considerably. Today’s market participants prioritize measurable earnings expansion, robust cash generation, and shareholder-friendly capital allocation over simple exposure to energy commodity fluctuations. These three enterprises exemplify this transformation, each in their own distinct manner.
GE Vernova specializes in manufacturing gas turbines, transmission equipment, and electrical infrastructure components. Unlike utility operators, the company functions as a supplier, providing the critical machinery and systems that enable power distribution networks.
GE Vernova Inc., GEV
Management has projected 2026 organic revenue growth ranging from 16–18% within its power division and 20% for its electrification business. The firm’s free cash flow projection stands between $4.5 billion and $5 billion.
GE Vernova has simultaneously increased its share repurchase authorization to $10 billion while doubling its quarterly dividend payout. Industry analysts have noted that electrification segment margins are anticipated to exceed 20%.
The company’s expansion strategy benefits from diversification across multiple product categories, minimizing dependence on any individual offering. As electric utilities accelerate investments in generation capacity and transmission infrastructure modernization, GE Vernova stands to capture opportunities across its entire portfolio.
Constellation Energy Constellation Energy manages one of America’s most extensive nuclear power plant fleets. The company has recently entered an agreement to purchase Calpine, a transaction that will integrate natural gas and geothermal generation assets into its operations.
Constellation Energy Corporation, CEG
The utility has outlined $3.9 billion in planned capital expenditures and elevated its stock buyback authorization to $5 billion. Leadership projects annual EPS expansion surpassing 20% throughout the 2026–2029 timeframe.
Constellation has additionally locked in over 5,650 megawatts through long-duration clean energy contracts. These commitments enhance revenue visibility and reduce volatility.
While the company’s 2026 adjusted earnings guidance registered marginally below Wall Street consensus, its extended-term EPS objectives indicate management anticipates accelerating profitability. The Calpine transaction diversifies its generation portfolio and strengthens its position in strategic electricity markets.
NextEra Energy NextEra Energy ranks among the nation’s largest utility operators. Its business encompasses both a regulated electric utility serving Florida customers and an extensive renewable energy development platform.
The corporation has revised upward its adjusted EPS projections for 2025 and 2026, establishing 2026 guidance between $3.92 and $4.02 per share. Management has also reiterated its commitment to achieving 8% or greater annual earnings growth continuing through 2032.
NextEra is pursuing dividend increases approximating 10% annually through 2026. This dual commitment to earnings and dividend growth distinguishes it from conventional utility sector peers.
Traditional utility investments typically appeal to income-focused investors seeking predictability. NextEra delivers that fundamental stability while offering substantially stronger growth characteristics than most regulated competitors.
Final Thoughts GE Vernova presents the most aggressive near-term expansion trajectory of this group. Constellation delivers an extended earnings growth horizon reinforced by operational scale and strategic acquisitions. NextEra furnishes a more measured, lower-risk approach featuring reliable dividend progression. NextEra’s latest guidance update maintained its previously established 2025 and 2026 EPS ranges, preserving confidence in its long-term earnings expansion framework.
Key TakeawaysHeadwinds Impacting PerformanceRestructuring Efforts and New LeadershipGet 3 Free Stock Ebooks Q4 earnings per share reached $1.90, topping the Street’s $1.71 forecast, yet fiscal 2027 projections disappointed Fiscal 2027 EPS outlook of $11.20–$11.90 fell short of the $12.44 consensus estimate Beer division revenue increased 1% during Q4; wine and spirits segment plunged 58% to $194.2 million Management aims to achieve over $200 million in yearly cost reductions by the end of fiscal 2028 New CEO Nicholas Fink assumes leadership on April 13, taking over from retiring chief Bill Newlands Constellation Brands delivered better-than-expected fourth-quarter results, yet shares tumbled as management’s fiscal 2027 forecast fell well below analyst projections.
$STZ – Constellation Brands Inc
Q4 2026
🟩 Revenue: $1.92B Vs. $1.89B est.
🟩 Adj. EPS: $1.9 Vs. $1.72 est.
👉 Beer delivered modest revenue growth (+1%) while Wine & Spirits collapsed (-58%), significantly impacting profitability despite a strong rebound in operating income. pic.twitter.com/a4qTQtMIWT
— EarningsTime (@Earnings_Time) April 8, 2026
The beverage giant reported earnings of $1.90 per share for the quarter ending February 28, surpassing the $1.71 consensus. Revenue totaled $1.92 billion, representing an 11% year-over-year decline but still ahead of the $1.84 billion Wall Street anticipated.
Despite the quarterly outperformance, attention quickly turned to underwhelming forward guidance. The company projected fiscal 2027 earnings between $11.20 and $11.90 per share, significantly trailing the Street’s $12.44 expectation. Adding to investor concerns, Constellation withdrew its fiscal 2028 projections completely, pointing to macroeconomic headwinds and uncertainty.
Constellation Brands, Inc., STZ
The beer segment generated $1.73 billion in Q4 revenue, marking a slight 1% uptick. Volume shipments climbed 1.1%, supported by favorable pricing dynamics, though product mix shifted unfavorably.
Meanwhile, the wine and spirits division faced severe headwinds. Revenue in this category collapsed 58% to $194.2 million, with shipment volumes plummeting 72.9%. Management attributed the decline to portfolio divestitures, distributor agreement modifications, and deliberate pricing adjustments.
For the complete fiscal 2026 year, Constellation delivered $11.82 in earnings per share on $9.14 billion in revenue, representing a 10% sales decline from the previous year while exceeding internal guidance of $11.30–$11.60.
Headwinds Impacting Performance The alcoholic beverage industry has struggled with weakening demand over recent years. Economic volatility has reduced foot traffic at bars and restaurants, while health-conscious consumer trends continue pressuring alcohol consumption broadly.
Constellation faces additional challenges from softening demand among Hispanic consumers, who represent approximately half of its beer customer demographic. Immigration policy uncertainties negatively impacted sentiment within this key consumer segment throughout fiscal 2026.
During the initial nine months of fiscal 2026, beer revenue declined 4% compared to the prior year. Organic wine and spirits sales, excluding divestiture impacts, contracted 16% during the same timeframe.
Bank of America maintained its Underperform rating, anticipating negative stock performance. Morgan Stanley analyst Dara Mohsenian characterized the guidance as “seemingly conservative,” predicting the shares would surrender recent relative strength.
Restructuring Efforts and New Leadership Constellation continues expanding into higher-growth segments, including hard seltzers and non-alcoholic beverages. The company initiated a comprehensive organizational restructuring last year, targeting more than $200 million in annual expense reductions by fiscal 2028.
Regarding executive changes, Nicholas Fink—a board member since 2021—officially becomes President and CEO on April 13. Outgoing chief Bill Newlands, who led the company since 2019, will retire but continue as a strategic advisor through the transition.
Certain analysts maintain optimistic views as summer approaches. Roth Capital Partners highlighted accelerating retail sales velocity for Constellation’s brands in recent weeks, suggesting the World Cup could boost beer demand.
STZ shares have climbed 8.9% year-to-date but remain down approximately 18% over the trailing twelve months.
Key Highlights First-quarter adjusted earnings per share reached $2.74, surpassing the Wall Street estimate of $2.54 by 6.93%. Quarterly operating revenue totaled $11.12 billion, exceeding the $8.46 billion consensus forecast by more than 35%. The company maintained its annual guidance range of $11–$12 per share, though the midpoint trails the $11.60 analyst projection. Shares initially surged beyond $320 before settling near $306.85 in premarket hours, reflecting a modest 1.1% increase. Constellation’s Calpine unit brought two new energy facilities online in April: Pastoria Solar and Pin Oak Creek Energy Center. Constellation Energy (CEG) delivered first-quarter results that surpassed Wall Street’s earnings and revenue projections for Q1 2026, yet the shares struggled to maintain momentum as market participants zeroed in on underwhelming forward guidance.
Constellation Energy Corporation, CEG
Shares climbed above the $320 mark during early premarket activity before drifting back to $306.85 — representing only a 1.1% advance. The tepid response illustrates a clear narrative: strong quarterly performance wasn’t sufficient to sustain investor enthusiasm when forward projections disappoint.
Adjusted earnings per share landed at $2.74, comfortably above the analyst consensus of $2.54. This represents a 6.93% positive surprise. Compared to the prior-year quarter’s $2.14 per share, the year-over-year expansion is substantial.
— alldaystocks | 24/7 Market News (@allday_stocks) May 11, 2026
Revenue figures proved even more impressive. The company generated $11.12 billion in operating revenue during the quarter — exceeding the $8.46 billion estimate by more than 35%. This compares favorably to $6.79 billion in the corresponding period last year, with growth partially attributed to the Calpine acquisition that finalized in early 2026.
Forward Outlook Misses Analyst Expectations Management reiterated its full-year adjusted operating earnings projection of $11 to $12 per share. While this range appears solid at first glance, the issue lies in the details: Wall Street analysts had penciled in $11.60 — a figure that sits above the guidance midpoint.
This disconnect between the range’s midpoint and Street expectations dampened the initial positive sentiment. When forward guidance fails to inspire confidence, even exceptional quarterly results can only lift shares so much.
CEG has surpassed earnings expectations in three of its past four reporting periods and has exceeded revenue forecasts in all four consecutive quarters. While this demonstrates reliable execution, investors remain fixated on future prospects.
Looking ahead to the current fiscal year, consensus estimates call for $11.69 in EPS on revenue of $30.85 billion. For the upcoming quarter, analysts anticipate $2.33 in earnings per share with revenue of $7.07 billion.
Year-to-date, CEG has declined approximately 14.1% — significantly lagging the S&P 500’s 8.1% advance during the same timeframe.
April Brings Two New Energy Facilities Online From an operational standpoint, Constellation brought two new energy generation facilities into commercial service during April.
The 105-megawatt Pastoria Solar Project located in California commenced operations on April 16. Texas-based Pin Oak Creek Energy Center followed suit on April 30.
Both facilities operate under Calpine’s management, which Constellation acquired in early 2026 and currently operates as a wholly-owned subsidiary. These projects are positioned to enhance grid stability and advance clean energy objectives in their respective markets.
Zacks Investment Research currently assigns CEG a Hold rating, citing mixed trends in analyst estimate revisions leading up to this earnings release.
Key Highlights CEG shares climbed 10.1% following a strong first-quarter 2026 earnings report First-quarter revenue reached $11.12 billion with net income totaling $1.59 billion Shares jumped 7.4% on May 20 after PJM Interconnection announced plans to accelerate a reliability auction The company activated the 460 MW Pin Oak Creek Energy Center and brought a 105 MW solar facility online Constellation wrapped up a $2.36 billion share repurchase program that began in 2023 CEG shares experienced a powerful rally this week. The energy giant delivered first-quarter 2026 results that exceeded Wall Street forecasts, activated new generation facilities, and benefited from positive developments in regional power markets — all converging in a short timeframe.
Constellation Energy Corporation, CEG
During the first quarter of 2026, Constellation posted revenue of $11.12 billion alongside net income of $1.59 billion. Both figures surpassed analyst estimates and triggered a wave of buying interest.
On May 20, the stock surged 7.4% following an announcement from PJM Interconnection regarding an accelerated timeline for a reliability auction. PJM operates the electrical grid serving much of the eastern United States, and this decision was widely interpreted as favorable for power generators like Constellation that serve high-demand customers including data centers.
NRG Energy and Vistra experienced similar gains on the same trading day — rising 7% and 6.6% respectively — indicating that the PJM announcement created momentum across the entire power generation sector.
Fresh Generation Assets Enter Service During the quarter, Constellation activated the Pin Oak Creek Energy Center, a 460 MW natural gas facility. This plant enhances the company’s ability to provide dispatchable power on demand, complementing its existing portfolio of nuclear, wind, solar, and hydroelectric resources.
Additionally, the company commissioned the Pastoria Solar Project, which delivers 105 MW of clean energy capacity. This expansion comes as enterprise customers increasingly seek carbon-free electricity sources for their operations.
The U.S. Department of Energy also issued a directive requiring Constellation to maintain operations at its Eddystone facilities. This mandate helps ensure grid stability in the region during periods of high demand.
Share Repurchase Initiative Concluded Constellation finalized a $2.36 billion share buyback program originally launched in 2023. Large-scale repurchases of this magnitude often signal management’s belief in the company’s underlying value and financial health.
The stock currently trades at a P/E ratio of 24.36. This valuation exceeds historical norms, indicating that the market is anticipating sustained expansion going forward.
CEG’s GF Score — a comprehensive investment assessment tool — registers at 79 out of 100. While the growth component scores 8/10, financial strength receives a 5/10 rating, which some market observers consider an area requiring attention.
Prior to this recent rally, the stock had declined approximately 20.39% year-to-date. The week’s strong performance has substantially narrowed that deficit.
Wall Street consensus estimates for 2029 project revenue of $35.1 billion with earnings reaching $5.8 billion, though optimistic forecasts suggest revenue could hit $44.6 billion with earnings of $7.9 billion. One valuation model calculates a fair value estimate of $370.58 per share.
No insider transactions have been recorded over the trailing twelve-month period.
Key HighlightsExisting Shareholders Set Offering Price at $281 Per SharePlanned Stock Buyback Provides Additional ContextStock Breaches Critical Support Level During TradingGet 3 Free Stock Ebooks CEG tumbles 7% following $3.09B secondary offering announcement Stock breaches $270 support level after substantial share sale Shares settle at $267.54 amid 11 million-share secondary offering Company announces share repurchase linked to offering completion CEG experiences selling pressure from sizable secondary transaction Shares of Constellation Energy Corporation experienced a significant downturn Monday following the announcement of a substantial secondary stock offering by current shareholders. The energy company’s stock declined 7.02% to close at $267.54, breaking through the critical $270 support threshold. The selloff came in response to the announcement of an 11 million-share public offering initiated by existing stockholders.
Constellation Energy Corporation, CEG
Existing Shareholders Set Offering Price at $281 Per Share The energy company disclosed that selling shareholders established the offering price at $281.00 for each share. When calculated against the disclosed share volume, the total transaction value reaches approximately $3.09 billion. Constellation emphasized that it would not be selling any equity as part of this secondary offering.
The organization further clarified that no proceeds from this transaction will flow to the company itself. All funds generated from the underwritten public sale will go directly to the selling shareholders. As a result, this transaction will not inject fresh capital into Constellation’s financial position.
J.P. Morgan and Morgan Stanley have been designated as the lead underwriters for this secondary offering. These underwriters have also secured a 30-day greenshoe option allowing them to purchase an additional 1.35 million shares. The transaction is anticipated to finalize on June 2, 2026, contingent upon standard closing requirements.
Planned Stock Buyback Provides Additional Context Constellation has committed to acquiring 2 million shares directly from the underwriters. The company plans to execute this repurchase at the identical price point paid to selling shareholders. This buyback will be executed through Constellation’s current share repurchase authorization.
The completion of the secondary offering is not contingent upon this stock repurchase. Conversely, the buyback transaction is dependent on the successful completion of the share offering. This arrangement effectively ties the repurchase timeline to the broader transaction schedule.
This repurchase initiative may partially neutralize the increased share supply hitting the market. Nevertheless, the stock experienced downward pressure as investors reacted to the substantial offering size throughout the trading day. CEG maintained its weakness across the entire session and finished near the day’s low points.
Stock Breaches Critical Support Level During Trading CEG finished the session at $267.54 following a 7.02% decline. This movement pushed the stock beneath the $270 price point, which had previously served as a short-term support zone. The decline unfolded gradually through the day rather than occurring as a single precipitous drop.
Secondary offerings of this magnitude often create downward pressure on stock prices by expanding immediate market supply. In this instance, Constellation is not creating new shares or diluting existing shareholders through fresh equity issuance. Nevertheless, the substantial volume of shares being sold still created headwinds for trading momentum.
Constellation submitted the appropriate registration documentation with the U.S. Securities and Exchange Commission. The offering will be executed via a free writing prospectus, prospectus supplement, and accompanying base prospectus. These regulatory filings contain comprehensive information regarding the transaction structure and associated risk factors.
June 2 — At NVIDIA’s GTC Taipei 2026 conference keynote, NVIDIA CEO Jensen Huang unveiled the partner roster for the NVIDIA DSX AI Factory Ecosystem, widely deemed the most market-aligned "Fortune Cipher" ecosystem map to date. Tech and crypto outlet BlockBeats has curated the following list of publicly traded and secondary market tradable assets linked to NVIDIA’s AI Factory: ### NVIDIA Capital Movements (Priority Tracking) CoreWeave (CRWV), Nebius (NBIS), Intel (INTC), Synopsys (SNPS), Coherent (COHR), Lumentum (LITE), Marvell Technology (MRVL), Nokia (NOK), IREN (IREN), Corning (GLW) --- ### Listed Companies in the AI Factory Ecosystem #### AI Cloud Infrastructure CoreWeave (CRWV), Nebius (NBIS), IREN (IREN), Sharon AI (SHAZ), Indosat (ISAT.JK, Jakarta Stock Exchange), NAVER (035420.KS, Korea Exchange), SoftBank Corp (9434.T, Tokyo Stock Exchange), YTL Power (6742.KL, Bursa Malaysia), Amazon Web Services (AMZN), Microsoft Azure (MSFT), Google Cloud (GOOGL), Oracle Cloud Infrastructure (ORCL) #### Software, Cybersecurity & DevOps IBM (via Red Hat), Broadcom (AVGO, owner of VMware), Nutanix (NTNX), Elastic N.V. (ESTC), Dynatrace (DT), Splunk (subsidiary of Cisco, CSCO), CrowdStrike (CRWD), Trend Micro (4704.T, Tokyo Stock Exchange), JFrog (FROG) #### Design, Engineering & Construction Synopsys (SNPS), Cadence Design Systems (CDNS), Dassault Systèmes (DSY.PA, Euronext Paris), Jacobs Solutions (J), Procore Technologies (PCOR), PTC Inc. (PTC), Schneider Electric (including ETAP; SU.PA, Euronext Paris), Siemens (SIE.DE, Frankfurt Stock Exchange) #### Energy, Cooling & Grid Infrastructure Eaton Corporation (ETN), GE Vernova (GEV), Hitachi (6501.T, Tokyo Stock Exchange), Schneider Electric (SU.PA, Euronext Paris), Siemens Energy (ENR.DE, Frankfurt Stock Exchange), Trane Technologies (TT), Vertiv Holdings (VRT), AES Corporation, Constellation Energy (CEG), NextEra Energy (NEE), Vistra Corp (VST) #### 800V Power Components Analog Devices (ADI), Infineon Technologies (IFX.DE, Frankfurt Stock Exchange), Monolithic Power Systems (MPWR), Navitas Semiconductor (NVTS), onsemi (ON), Renesas Electronics (6723.T, Tokyo Stock Exchange), ROHM Co. Ltd. (6963.T, Tokyo Stock Exchange), STMicroelectronics (STM), Texas Instruments (TXN), Delta Electronics (2308.TW, Taiwan Stock Exchange), Flex Ltd. (FLEX), Lite-On Technology (2301.TW, Taiwan Stock Exchange) #### Data Center Infrastructure & Hosting Equinix (EQIX), Digital Realty Trust (DLR), Sify Technologies (SIFY), Fujitsu (6702.T, Tokyo Stock Exchange), IREN (IREN), American Tower (AMT), CoreSite (subsidiary of American Tower) #### Compute Systems, OEM & ODM Providers Dell Technologies (DELL), Hewlett Packard Enterprise (HPE), Lenovo Group (0992.HK, Hong Kong Stock Exchange), Supermicro Computer (SMCI), ASUSTeK Computer (2357.TW, Taiwan Stock Exchange), Compal Electronics (2324.TW, Taiwan Stock Exchange), Hon Hai Precision Industry (Foxconn, 2317.TW, Taiwan Stock Exchange), GIGABYTE Technology (2376.TW, Taiwan Stock Exchange), Pegatron Corporation (4938.TW, Taiwan Stock Exchange), Quanta Computer (2382.TW, Taiwan Stock Exchange), Wistron Corporation (3231.TW, Taiwan Stock Exchange), Wiwynn Corporation (6669.TW, Taiwan Stock Exchange), Inventec Corporation (2356.TW, Taiwan Stock Exchange), ASRock Industrial (3515.TW, Taiwan Stock Exchange), Micro-Star International (MSI, 2377.TW, Taiwan Stock Exchange), MiTAC Holdings (3706.TW, Taiwan Stock Exchange), Hyve Solutions (SNX), Cisco Systems (CSCO)
Relevant content
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
5 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
5 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
5 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
5 minutes ago
SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
5 minutes ago
The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
The most infamous address in American nuclear history is getting a second act. Constellation Energy has cleared a key regulatory hurdle in its push to restart the former Three Mile Island Unit 1 reactor, now officially renamed the Christopher M. Crane Clean Energy Center, with an operational target set for the second half of 2027.
The project, estimated at $1.6 billion, is anchored by a 20-year power purchase agreement with Microsoft signed on September 20, 2024. Microsoft plans to use the full 835 MW capacity to feed its expanding fleet of AI data centers.
Regulatory wins and grid headaches On June 2, 2026, Constellation secured approval to transfer electricity capacity rights from the retiring Eddystone Generating Station, a fossil fuel plant. That approval is a meaningful piece of the puzzle, helping the company meet its aggressive timeline without waiting for entirely new grid capacity to come online.
PJM, the regional grid operator covering much of the mid-Atlantic and Midwest, has reportedly faced delays in completing the grid upgrades needed to integrate the reactor’s output. Those delays could, in a worst-case scenario, push the restart all the way to 2031.
Advertisement
On March 31, 2026, the company filed a request with the Federal Energy Regulatory Commission to expedite grid interconnection through PJM. The capacity transfer from Eddystone is part of that same strategy.
The Nuclear Regulatory Commission approved the facility’s name change to the Christopher M. Crane Clean Energy Center in May 2025. Crane was Constellation’s former CEO who passed away in 2024.
The money behind the megawatts The Department of Energy committed a $1 billion loan to the project, first disclosed in November 2025, with the initial advance expected by Q1 2026.
The Microsoft PPA provides the demand-side certainty that makes the entire financial structure work. With 835 MW locked in for two decades, Constellation has the kind of revenue visibility that most power generators can only dream about.
Before its shutdown in September 2019, Unit 1 achieved a 96.3% capacity factor in its final operational year. Wind farms typically operate in the 25-35% range. Solar hovers around 20-25%.
It’s worth noting that Unit 1 is entirely separate from Unit 2, which suffered the partial meltdown in 1979. Unit 1 operated safely for decades after that incident and was shut down purely for economic reasons when natural gas prices made it unprofitable.
What this means for investors The risk side of the ledger is equally clear. Grid upgrade delays through PJM remain the most tangible threat to the timeline. A four-year slip to 2031 would dramatically change the economics, potentially requiring renegotiation of the Microsoft deal or additional capital.
Energy traders should watch PJM’s interconnection queue closely. The speed at which grid upgrades proceed will be the single best leading indicator of whether 2027 holds or slips. Constellation’s ability to secure further waivers and capacity transfers will also matter, particularly if additional fossil plants in the PJM footprint approach retirement and free up grid capacity that can be redirected.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
Key Takeaways Three Mile Island nuclear facility received early regulatory clearance for restart operations, bolstering data center power supply agreements The Calpine acquisition has been finalized, positioning Constellation Energy as America’s top electricity generator A $335 million accelerated share repurchase program was initiated following an 11 million share secondary offering by existing stockholders Shares currently trade at $274.06, approximately 24% under the Wall Street consensus price target of $360.00 CNBC’s Jim Cramer recommended purchasing CEG stock, highlighting the recent decline and nuclear-focused asset base Constellation Energy (CEG) experienced several significant catalysts this week. Shares settled at $274.06, gaining 8% over the trailing seven-day period, despite posting a 25.2% decline year-to-date.
Constellation Energy Corporation, CEG
Three pivotal announcements emerged simultaneously: the green light for Three Mile Island’s accelerated restart timeline, finalization of the Calpine transaction, and initiation of a substantial share repurchase initiative.
The Three Mile Island regulatory approval represents the most significant catalyst. Federal authorities authorized an expedited restart schedule, which directly underpins Constellation’s extended power purchase agreements with data center operators requiring constant, dependable electricity.
This contracted capacity pipeline forms a fundamental element of the CEG investment thesis. Cloud computing giants and major industrial consumers are aggressively pursuing stable, emissions-free electricity sources, and nuclear generation addresses these requirements more effectively than most competing options.
The Calpine transaction closure marks another transformative development. Following this strategic acquisition, Constellation now holds the position of the nation’s largest electricity producer. This expansion significantly enhances both generation capacity and market presence across multiple regions.
Share Repurchase Program Launched After Secondary Offering Regarding capital allocation, current shareholders divested 11 million shares via a secondary stock offering. Constellation itself did not receive any cash from this transaction.
As a countermeasure, CEG implemented an accelerated $335 million repurchase initiative, acquiring shares through open market transactions and directly from offering underwriters. This action reduces outstanding shares and partially counteracts the dilutive impact of the secondary sale.
Concurrently with the buyback, Constellation allocated $180 million toward infrastructure enhancements at its Limerick and Calvert Cliffs nuclear stations. These capital expenditures focus on maintaining fleet reliability for long-term contracted clients.
Cramer’s Latest Commentary During a recent Mad Money lightning round segment, Jim Cramer addressed CEG with a clear recommendation: “Oh man, Constellation… buy, buy, buy. It’s come down a lot.”
Cramer previously highlighted CEG earlier this year when it ranked among the month’s worst-performing equities, plummeting over 20% following the Trump administration’s proposal for energy pricing limitations in Mid-Atlantic markets.
His assessment at that time emphasized that constructing new generation facilities requires excessive lead time for such policies to materially damage Constellation, and that predatory pricing was never part of their business model. Trading at 24 times forward earnings, he expressed favorable sentiment toward the shares.
Wall Street analysts generally concur on valuation metrics. The consensus price objective stands at $360.00, positioning CEG approximately 24% beneath that benchmark at present levels. One independent valuation analysis suggests the stock trades 43.4% under its calculated intrinsic value.
The leverage profile warrants monitoring. Financial analysts have identified elevated debt levels as a concern, and the combined financial commitments from the buyback program and nuclear infrastructure investments create additional balance sheet pressures.
Nevertheless, the Three Mile Island restart authorization and Calpine integration both materialized within the same week, providing the corporation with enhanced visibility into expanding its contracted nuclear generation portfolio.
CEG has appreciated roughly threefold during the past three years, although the trailing twelve-month performance registers at -9.6%.
Key Highlights A 15-year power purchase agreement has been established between Walmart and Constellation Energy for nuclear-generated electricity Approximately 176 megawatts will be delivered from the Dresden Clean Energy Center located in Illinois An additional 30 megawatts will come from planned efficiency enhancements at the Dresden facility Electricity delivery commences through two separate contracts beginning in 2029 and 2030 This represents Walmart’s inaugural nuclear energy agreement and among the earliest partnerships between a leading U.S. retail chain and nuclear power provider On Tuesday, Constellation Energy (CEG) and Walmart (WMT) revealed a significant long-term agreement for nuclear-generated power, representing an unprecedented partnership between a prominent American retailer and a nuclear energy supplier.
CEG stock showed positive movement, trading up 0.54% at $275.53 during the reported timeframe.
Constellation Energy Corporation, CEG
According to the terms, Constellation will deliver approximately 176 megawatts of clean energy from its Dresden Clean Energy Center facility situated in Morris, Illinois. This total encompasses an extra 30 megawatts that will come from efficiency enhancement projects planned for the facility.
The electricity will support Walmart’s advanced perishable goods distribution facility currently being constructed in Belvidere, Illinois. This marks Walmart’s initial venture into nuclear power procurement.
The partnership encompasses two separate 15-year contracts, with electricity deliveries commencing in 2029 and 2030. Under both agreements, Walmart will acquire energy generation, environmental credits, and capacity rights.
This arrangement also provides economic justification for capital investments in facility “uprates” at Dresden — performance optimization measures that increase electricity generation from current nuclear infrastructure without constructing additional generation facilities. This approach represents a financially efficient method to expand carbon-free electricity supply to the power grid.
About the Dresden Clean Energy Center Dresden ranks among Constellation’s most substantial nuclear generation facilities. The plant holds operating licenses extending through 2049 and 2051, while providing employment for over 1,100 workers in the surrounding area. In December 2025, Constellation secured license renewal for the Dresden facility.
Constellation maintains a diverse energy portfolio totaling 55 gigawatts of generating capacity, spanning nuclear, natural gas, geothermal, hydro, wind, and solar installations.
According to Jim McHugh, Constellation’s Senior Executive Vice President and Chief Commercial Officer, the agreement “reflects long-term stewardship of critical infrastructure, the communities it serves, and the energy system that powers American growth.”
Within Illinois, Walmart maintains approximately 175 retail locations and warehouse clubs, employing more than 55,000 team members across the state.
Rising Corporate Interest in Nuclear Energy Nuclear energy appeals to major corporations due to its ability to deliver consistent baseload clean power — operating continuously around the clock, unlike intermittent renewable sources such as solar and wind that fluctuate with environmental conditions.
This agreement aligns with an expanding trend of major enterprises securing extended nuclear energy supply contracts to satisfy both operational power requirements and environmental responsibility objectives.
Constellation has maintained significant activity across various initiatives recently. Bernstein SocGen Group recently launched coverage with an outperform recommendation, highlighting the organization’s 22 gigawatts of nuclear generating capacity and its strategic Calpine acquisition as major strengths.
Additionally, Constellation recently finalized a 25-megawatt geothermal capacity expansion at The Geysers facility in California through its Calpine division, generating sufficient electricity for approximately 25,000 residential properties each year.
The organization also disclosed a secondary stock offering involving 11 million shares priced at $281 per share, although Constellation will not retain proceeds from these transactions.
With Dresden’s twin reactor units authorized to operate through 2049 and 2051, both organizations benefit from an extended operational timeline under this new partnership arrangement.
Key Takeaways CEG shares have declined 26.2% in 2026, with the stock last trading at $270.26 Discounted cash flow analysis indicates an intrinsic value of $484.34, implying 44.2% undervaluation The stock’s P/E ratio of 25.46x sits below its calculated fair value multiple of 32.85x Retail giant Walmart inked its inaugural nuclear energy contract with Constellation for 176 megawatts from Dresden facility in Illinois Bernstein SocGen launched coverage with an outperform recommendation, highlighting CEG’s 22-gigawatt nuclear portfolio and Calpine integration Constellation Energy has faced headwinds throughout 2026 based on share price performance. The stock settled at $270.26, representing a 26.2% year-to-date decline and a 15.3% loss over the trailing twelve months. This downturn has renewed attention on valuation metrics among nuclear energy sector observers.
Constellation Energy Corporation, CEG
While recent performance has disappointed, the three-year total return remains impressive at 203.6%, underscoring the stock’s longer-term trajectory.
A DCF analysis conducted by Simply Wall St establishes an intrinsic value estimate of $484.34 per share for CEG. This creates a 44.2% differential from current trading levels, suggesting material undervaluation. The two-stage free cash flow to equity framework incorporates trailing twelve-month FCF of approximately $601 million and forecasts cash generation expanding to roughly $7.3 billion by decade’s end.
From an earnings multiple perspective, CEG carries a P/E ratio of 25.46x. While this exceeds both the Electric Utilities sector average of 21.62x and peer group median of 21.43x, Simply Wall St’s proprietary “Fair Ratio” calculation for CEG stands at 32.85x after adjusting for company-specific growth dynamics and risk factors. Relative to this benchmark, the current valuation appears attractive.
Historic Retail Nuclear Partnership Monday brought significant commercial news. Constellation and Walmart unveiled a comprehensive nuclear energy procurement agreement encompassing approximately 176 megawatts of wholesale power from the Dresden Clean Energy Center located in Illinois. The arrangement includes 30 megawatts of incremental capacity expansion.
Walmart’s commitment involves purchasing electricity, environmental credits, and capacity across dual 15-year contracts commencing in 2029 and 2030. This marks the retail behemoth’s maiden nuclear power procurement and represents one of the pioneering agreements linking a major American retailer with nuclear generation infrastructure.
The contracted power will service a technologically advanced perishable goods distribution facility that Walmart is constructing in Belvidere, Illinois. The transaction additionally enables planned efficiency enhancements at Dresden, which involve operational improvements that boost generation from current reactor units.
The Dresden Clean Energy Center operates under licenses extending through 2049 and 2051. Constellation secured license renewals for these units in December 2025. The installation sustains employment for over 1,100 workers.
Wall Street Perspectives and Corporate Developments Bernstein SocGen recently launched research coverage on CEG with an outperform designation. The investment firm emphasized Constellation’s 22-gigawatt nuclear generation portfolio and its strategic Calpine acquisition as foundational elements supporting the bullish thesis.
Calpine, which now functions as a Constellation operating segment, finished a 25-megawatt geothermal capacity expansion at The Geysers installation in California. This enhancement will deliver power to more than 25,000 residential units on an annual basis.
Constellation separately disclosed a secondary equity offering totaling 11 million shares priced at $281 apiece, though the corporation will not retain any funds from this transaction.
William Blair modified its data center and power infrastructure index rating to 75 from a prior 78, citing headwinds in data center development timelines and electricity availability limitations. The research house simultaneously increased its projection for the domestic data center power supply-demand imbalance expected in 2030.
CEG commands 55 gigawatts of aggregate generating capacity spanning nuclear, natural gas, geothermal, hydroelectric, wind, and solar assets.
Holonym and Gitcoin Passport unite to revolutionize online identity with privacy-preserving verification.
Holonym Foundation – a digital identity project specializing in zero-knowledge (ZK) technology – acquired Gitcoin Passport to create the world’s largest Proof of Humanity solution.
As part of the deal, human.tech (a feature bolstered by Holonym Foundation, which builds on personal freedom, privacy, and financial autonomy) will roll out 34.5 million ZK credentials with Gitcoin Passport’s 2 million users.
The Partnership’s Main Goal According to a document shared with CryptoPotato, the acquisition will position Holonym Foundation as the leading provider of privacy-preserving on-chain reputation and Sybil detection. It will merge Gitcoin Passport’s reliable identity verification system with the Human Network by incorporating its Human Key technology.
For its part, Gitcoin Passport will change its name to Human Passport to better represent its role as a Proof of Humanity solution, enabling individuals to confirm their identity while keeping their personal data private.
Widely adopted by major blockchain networks, Gitcoin Passport offers advanced reputation tools to over 110 partners. Its Proof of Humanity Score has safeguarded $200 million in airdrops, establishing itself as the leading platform for preventing Sybil attacks, ensuring secure token distributions, and promoting decentralized identity adoption.
Rebranded as Human Passport, the service will integrate zero-knowledge (ZK) technology to enhance private on-chain reputation, making it a key component of the human.tech suite.
You may also like: ZKsync Creator Announces Layoffs as It Pivots to Permissioned Privacy Chain New XRPL Startup Initiative Launched by Seoul FinTech and XRPL Korea (Report) Vitalik Buterin Reconsiders 2017 View on Full Chain Validation ‘Evolving Into Something Even Greater’ Among the people commenting on the acquisition was Shady El Damaty – CEO and co-founder of Holonym Foundation. He claimed that digital identity preserves privacy and allows individuals to control their data is “the future of online interactions.”
In his view, integrating Gitcoin Passport and launching human.tech is “a major leap forward in empowering digital human rights.”
Kevin Owocki – founder of Gitcoin Passport – also gave his two cents. He said his brainchild has always aimed to provide individuals with tools to demonstrate their authenticity while maintaining privacy.
“With human.tech taking the helm, Passport is evolving into something even greater: an identity layer that champions human dignity, privacy, and verifiable trust on the internet. This transition strengthens our shared mission to build open, decentralized systems that serve people first,” he concluded.
The second week of February showed strong activity in crypto VC funding as HashKey Group secured $30 million with a $1.50 billion valuation.
According to Crypto Fundraising data, the week brought total funding to over $150 million, with payment solutions and infrastructure projects leading.
The funding pattern showed rising interest in stablecoin development and L1 infrastructure. Let’s dive deeper into the investments from the last seven days.
HashKey Group, $30 million Raised $30 million from Beijing-based Gaorong Ventures HashKey Group (HSK) is building finance and banking solutions The project has raised a total of $130 million. HashKey Group secures $30 million investment from Gaorong Ventures
Hong Kong-based HashKey Group has secured a $30 million investment from China’s Gaorong Ventures, Bloomberg reported today, citing people familiar with the matter.
HashKey Group is a regulated digital asset… pic.twitter.com/pfeZXNm03U
— EchoeWeb (@Echoeweb) February 14, 2025 Plasma, $24 million Secured $24 million in an unknown round Plasma — backed by Framework, Bitfinex, and Peter Thiel — has raised a total of $27.5 million Legend, $15 million Raised $15 million in an unknown round “We couldn’t be more stoked to have the unwavering support of the best to do it, w/ a16z crypto leading and support from Coinbase Ventures,” Legend founder and CEO Jayson Hobby said. The project is creating wallet infrastructure and building comprehensive wallet solutions Mango Network, $13.5 million Secured $13.5 million in an unknown round Backed by Amrita Ventures, Kucoin, and Tido Capital Mango Network is developing L1 infrastructure https://twitter.com/CryptoRank_VCs/status/1890395373283295384
StakeStone, $10 million Raised $10 million in an unknown round Backed by BingX, StakeStone is building DeFi infrastructure to improve liquidity, optimize capital efficiency, and expand cross-chain asset protocols in decentralized finance. The project has raised a total of $32 million so far. Check out our coverage here. Human Passport, $10 million Holonym Foundation acquired Human Passport, previously known as Gitcoin Passport, for $10 million, according to Cointelegraph. The project focuses on building identity solutions Passport is evolving. We’re scaling with privacy on https://t.co/o2LptMGrap.
Gitcoin Passport has been acquired by @0xholonym Foundation and is now Human Passport, bringing zk-powered digital identity to our 2M users with 35M+ credentials—on track to becoming the largest issuer… pic.twitter.com/neJz0ky1KT
— Human Passport (previously Gitcoin Passport) (@HumnPassport) February 10, 2025 Notable crypto VC funding rounds < $10 million GamerBoom raised $9 million for AI gaming with NVIDIA backing NodeGo secured $8 million for AI-powered DePIN infrastructure BitRobot Network raised $6 million for Solana gaming Blum gathered $5 million for multichain trading Partnr secured $4 million for AI gaming communication WalletConnect raised $4 million through public sale with $200 million FDV Drosera gathered $3.25 million for Ethereum security Cabal, Teneo, and InfiniFi each secured $3 million Fireverse raised $2.5 million for AI music BitRobot Network and DeFi App each gathered $2 million Whetstone Research secured $1.3 million for DeFi research Hivello raised $900K and $100,000 in separate public sales with $45 million FDV
A tongue-in-cheek post from Ethereum co-founder Vitalik Buterin—“Make Communism Great Again”—sparked a deeper debate on social media: What political ideology, if any, should guide Web3?
For Gitcoin and Allo.Capital co-founder Kevin Owocki, the answer is simple—none of them.
A community note on X pointed to a post from April 1, 2024, in which Buterin said, “Degen communism: the only correct political ideology,” linking to a blog post.
Even though it was written on April Fool’s Day, despite the timing, Buterin’s post sparked real conversation about which political ideologies fit the blockchain space.
“We should stop using 20th-century words to talk about 21st-century technology,” Owocki told Decrypt at ETH Denver in February.
Owocki emphasized that the emergence of blockchain and artificial intelligence has created a new design space for governance, one far more dynamic than the ideological frameworks of the past.
“In the past, it was, ‘Is this socialism, communism, or capitalism?’” he said. “In the future, there's going to be infinitely more design space because of crypto and AI than ever before.”
To illustrate the scale of what’s possible, Owocki turned to video games.
"I've been playing a lot of Zelda recently, and there's this moment where you get the map, where it goes from seeing just a little to seeing the whole world,” he said. “That's what AI and crypto are doing for our governance structures. So, let's not fight over this little patch of 20th-century land. Let's explore the great frontiers of DAO design. We just found the map. We just have to follow it."
Owocki’s point goes beyond semantics. For him, leaving behind 20th-century language also means leaving behind 20th-century governance models.
A case for DAOs
That’s where DAOs—decentralized autonomous organizations—come in. Instead of fitting crypto into old political ideologies, he sees DAOs as a blank canvas for entirely new systems of coordination, decision-making, and power-sharing.
But even as DAOs promise a fresh start, they’re not immune to the same old power dynamics. Owocki warns that without thoughtful design, decentralized systems can still fall victim to cabals—tight-knit groups that coordinate to take control, much like the political cliques Web3 aims to leave behind.
To counter this, Owocki pointed to a mechanism called “cluster matching” that discourages coordinated voting blocs by algorithmically detecting and dampening their influence.
“If Rena and I always vote together, the algorithm flags us as a cabal and dampens our votes,” he said. “If two people who usually vote differently back the same proposal, the system gives it more weight, because it sees cooperation across social distance.”
For Owocki, innovations like this represent more than technical tweaks—they’re early signs of a new democratic infrastructure emerging from within crypto.
“Let’s not fade the DAO space because of past problems,” he said. “Let’s lean into what’s possible now.”
Wishful thinking
Still, not everyone shares the idealistic vision often attached to decentralized governance.
Allo.Capital co-founder and Gitcoin Executive Director Rena O’Brien took aim at what she sees as wishful thinking about fairness and equality in Web3 communities and the shadowy behavior that undermines those ideals.
“This idea of one token, one vote, or that we're all created equal, and the shadow cabals? It’s dumb,” she said. “It’s 2025. Woman up. Let’s stop talking about political ideologies. There’s shipping to be done.”
For O’Brien, the problem isn’t just theoretical—it’s practical, pointing to Ethereum’s adoption struggles as a symptom of deeper gaps in the ecosystem.
“Once we figure out how to fix those issues, we can move into the infighting,” she said. “Our tools are broken. We can’t decide if we’re building at the app or protocol layers, or where the actual value lies.”
Owocki agreed that the space is still early, but urged critics to take a longer view. He likened today’s DAOs to corporations in their infancy.
“LLCs are 60 years old. Corporations are 300. When DAOs are 50, they’re going to be good,” he said.
Edited by Sebastian Sinclair
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
The software company will reduce the scale of its operations to focus on sustainability.
Software company Gitcoin announced that it will be winding down its Grants Lab, citing an unclear path towards profitability and a maturing L2 ecosystem.
Gitcoin announced the move via a blog post today, and clarified that the shutdown is specific to the Grants Lab and the Grants Stack technology. Other Gitcoin offerings, such as the Human Passport and KERNEL, will remain operational.
The company will not be omitting grant work entirely from its structure, but is shutting down the larger-scale operation of Grants Labs.
Instead of submitting a budget to Gitcoin Governance for H2 2025, Grants Labs will spend the remainder of its H1 funds on severance pay to affected employees.
Gitcoin founder Kevin Owocki clarified, “We’re not retreating - we’re refocusing. Gitcoin will continue, but with a leaner team aligned around a more focused Gitcoin Grants program and managing its portfolio of assets.”
Gitcoin’s token, GTC, rallied on the news and is up 5% over the last 24 hours. The token surge comes after a strong week for GTC and altcoins in general, and GTC is up 34% over the last seven days to a $20 million market capitalization.
GTC PriceThe blog post goes on to cite potential growth opportunities and future activations for the Gitcoin ecosystem.
Some of these possibilities include new utilities for the GTC token, community activations through governance or public goods funding, or doubling down on existing grant recipients.
Juliet Ochago of the Gitcoin DAO emphasized that users can expect ongoing improvements for donors and grantees, and continued innovation within the Grants Program itself.
The pivot will mean an increased focus on community involvement, which the team is softly referring to as the “Gitcoin Community Edition” phase of project development.
Gitcoin, a platform dedicated to public funding within the Ethereum $1,623 ecosystem, has decided to shut down its main software development unit, Gitcoin Labs. Kevin Owocki, one of the platform’s founders, indicated that achieving profitability under current conditions was not realistic, leading to this significant decision.
Closure of Gitcoin Labs and Grant Program FocusOwocki explained through his X account that “the financial burden of the Grants Lab has exceeded the resources available.” Following discussions with Gitcoin’s senior executives and the Grants Lab leader, it was announced that there would be no new budget for the second half of the year.
After the closure, remaining funds will be utilized to pay severance for affected employees. In the midst of this news flow, Gitcoin’s main network asset, GIT coin, experienced a decline of approximately 2% in value.
Altcoin GIT CoinCompany officials emphasized that support for existing technologies will not cease immediately, and efforts are underway to ensure a smooth transition.
Restructuring Process: A New Vision for GitcoinDespite the closure, Owocki remains optimistic, stating that Gitcoin will continue with a smaller, more focused team. The new phase will concentrate on strengthening the Gitcoin Grants program and effectively managing the existing asset portfolio.
Beginning nearly a year ago, the restructuring process has seen the platform adopt a more capital-oriented strategy while maintaining its community-focused structure. Several DAOs merged in February 2024, the Layer 2 Public Goods Network was closed, and investments shifted towards more profitable projects, marking a continuation of this transformation.
Additionally, Gitcoin will close its donation management tool, known as Grants Stack. The Allo Protocol, designed for democratic capital allocation, will also be terminated. However, the identity verification solution, Human Passport, will be retained and supported.
Gitcoin reassured its partners and users that “the technologies you use will not vanish overnight,” promising to provide support throughout the transition. Ongoing work aims to determine how the technological shift will occur and which solutions will be maintained.
Mathilda DV, leader of the Gitcoin Grants Program, shared on X that “today is a significant turning point for us. It’s a tough day, but I remain hopeful for the future.” She emphasized that despite the closure of Grants Stack, the Gitcoin Grants Program would continue to strengthen.
The project is noted to have strong financial resources, with assurances that funding for the Gitcoin Grants Program is secure “until around 2029.”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
The privacy-focused platform, formerly called Gitcoin Passport, aims to protect networks against bots and fake accounts.
Identity verification application Human Passport, formerly known as Gitcoin Passport, has rolled out new Sybil resistance tools for Ethereum Layer 2 (L2) Base to deter fake users and bots.
Base, which boasts a total value locked (TVL) of $6.6 billion, currently boasts nearly 34 million active addresses per month, according to Token Terminal.
A Sybil attack occurs when a single entity creates multiple fake identities to manipulate a system or network. In crypto, a Sybil attack can refer to the creation of multiple bots or fake identities in an attempt to gain undue influence or control of a blockchain, and can compromise security and privacy. This kind of attack is also often used during token generation events or airdrops, as the attacker attempts to acquire a disproportionate allocation of tokens.
Human Passport works by letting users collect “stamps” — verifiable credentials that prove the user is a real, unique human, without requiring them to share sensitive personal information.
Human Passport’s new tools for Base introduce a machine learning–powered Sybil Detection Model that analyzes wallet behavior in real time, according to a press release viewed by The Defiant. Users can also mint their Stamps-based score and identity data directly on Base without requiring further personal data for know-your-customer (KYC) procedures, or compromising privacy.
Earlier this year, the Holonym Foundation (HF) purchased Human Passport from Gitcoin and made it part of the human.tech ecosystem. The ID verification software now runs on the Human Network – an actively validated service (AVS) on EigenLayer with over $1.4 billion in staked assets to secure the network, according to HF’s blog.
The update also includes a tool called Cross-chain Intelligence, which combines activity across Base, Ethereum, and other EVM-compatible chains for more accurate verification, the release notes.
The rollout is a major step in Human Passport’s mission to offer simple, privacy-first tools that help communities verify real people and prevent abuse by bots.
“Base is exploding with activity, but where there’s growth, Sybils follow,” said Kyle Weiss, co-founder of Human Passport, in a statement. “Communities die when rewards go to bots, but with Human Passport on Base, we’re making sure that never happens.”
Shady El Damaty, the CEO of human.tech by Holonym, echoed the sentiment:
“Sybil resistance isn’t just about stopping bots, it’s about defending what it means to be human in a world where that definition is under siege.”
Gitcoin was widely disseminated through fake phishing announcements using the GitHub notification system
PANews reported on September 22nd that, according to 0xkatz.era, a fake phishing announcement appeared on Gitcoin . The attackers used GitHub's native notification system to spam a large number of users. Affected users found that the page was no longer accessible when they clicked on the relevant organization link. Some users have reported the account and related issues to GitHub , reminding the community to be vigilant and prevent phishing risks.
Share to:
Author: PA一线
This content is for market information only and is not investment advice.
Follow PANews official accounts, navigate bull and bear markets together
Recommended Reading
Popular Articles
Industry News
Market Trends
Curated Readings
Subscribe
SK Hynix stock price surge expands to 14.7%, Samsung Electronics rises 6%
PANews reported on March 11 that Ethereum founder Vitalik Buterin posted on the X platform that Gitcoin Grants' "deep funding" continues, and a major funding round was recently completed. Vitalik advised developer Devansh Mehta to continue refining the model (including its prediction market version), but to ensure that design details and funding sources are adapted to the needs of "chaotic times."
He points out that the deep funding model currently possesses two advantages: it reflects the principle of meritocracy, avoiding excessive egalitarianism; and it can benefit from artificial intelligence while maintaining human dominance. However, in terms of adapting to the needs of a "chaotic era," the mechanism still bears a distinct "stable era" character—that is, attempting to build a large-scale instrument embodying principles of justice and gain unanimous societal consensus in funding it. Vitalik believes it is necessary to consider how to make this mechanism function in a world that no longer operates in this way.
On April 1st, Ethereum Foundation researcher Devansh Mehta proposed a Validator Rewards Redistribution (VRR) scheme at the EthCC conference. Under the proposal, validators would be able to signal on the consensus layer and autonomously choose to redirect a portion of their staking rewards to a designated smart contract—rather than withdrawing all funds to their personal wallets. Recipients could include entities like Gitcoin, Octant, public goods funding platforms, security audit firms, and core protocol research teams. The scheme entails two Execution Layer changes: a mechanism for validators to signal their redirection percentage, and logic to transfer funds to the specified contract.
Relevant content
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
5 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
5 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
5 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
5 minutes ago
SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
5 minutes ago
The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
On June 21, blockchain security firm Blockaid announced its monitoring systems have detected signs of a front-end attack on Gitcoin’s subdomain files.gitcoin.co. The malicious code found on the site, dubbed "Eleven Drainer," is engineered to steal users’ cryptocurrency wallet funds. Blockaid is urging the public to refrain from accessing or interacting with the website right now; the issue is under active investigation and remediation.
Relevant content
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
5 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
5 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
5 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
5 minutes ago
SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
5 minutes ago
The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
Yield Yak Suffers Frontend Attack, Subdomain Injected with Malicious Code
PANews, June 24 – Blockaid issued a security alert on X platform, stating that its system has detected an attack targeting the front end of the Yield Yak website. The project's subdomain vote.yieldyak.com was injected with the eleven drainer malicious code. Blockaid noted that the attack method is similar to the security incident that hit Gitcoin.co yesterday.
Share to:
Author: PA一线
This content is for market information only and is not investment advice.
Follow PANews official accounts, navigate bull and bear markets together
Recommended Reading
Related Topics
Popular Articles
Industry News
Market Trends
Curated Readings
Subscribe
SK Hynix stock price surge expands to 14.7%, Samsung Electronics rises 6%
According to Blockaid's monitoring, the Yield Yak website has suffered a front-end attack. Subdomains of the site currently contain "eleven drainer" code. The attack method is similar to that of the earlier attack on Gitcoin.
Relevant content
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
5 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
5 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
5 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
5 minutes ago
SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
5 minutes ago
The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
June 10: On-chain investigator Specter has issued a security advisory flagging a potential exploit in an older liquidity pool of Solana’s DeFi protocol Raydium. The attacker stole approximately $1.34 million worth of assets—including USDC, RAY, and wSOL. The hacker then transferred the stolen funds to Ethereum via a bridge before depositing them into Tornado Cash to protect their privacy.
Relevant content
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
4 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
4 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
4 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
4 minutes ago
SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
4 minutes ago
The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
TLDR Hackers extracted approximately $1.34 million from five dormant Raydium liquidity pools operating on Solana The breach resulted in the theft of around 150,000 RAY tokens, 5,600 SOL, and 893,700 USDC The vulnerability existed in an obsolete AMM program discontinued in 2021, leaving active pools untouched Raydium announced its treasury would provide complete restitution to all impacted participants Security firm PeckShield identified roughly 810 ETH of the pilfered assets flowing into Tornado Cash On June 10, Raydium, a Solana-based decentralized exchange, disclosed that malicious actors successfully exploited outdated infrastructure components, siphoning approximately $1.34 million worth of cryptocurrency.
The compromised liquidity pools had been inaccessible via Raydium’s user interface ever since the platform discontinued its AMM V3 program back in 2021. According to Raydium’s statement, neither current platform users nor any actively maintained liquidity pools experienced any impact.
How the Attack Happened On-chain security analyst Specter revealed that the perpetrators utilized a fraudulent mint address to circumvent security validation protocols within the inactive pool infrastructure. The core vulnerability stemmed from inadequate verification processes for LP mints, creating an opportunity to sidestep proportion validation mechanisms.
The assailant successfully withdrew approximately 150,177 RAY tokens, 5,603 SOL, and 893,700 USDC from the compromised pools. According to Specter’s investigation, the attacker initially received funding through the KuCoin exchange before transferring the illicit assets to the Ethereum blockchain.
PeckShield, a prominent blockchain security organization, monitored the movement of stolen cryptocurrency following its transfer to Ethereum. Their analysis revealed that approximately 810 ETH was funneled into Tornado Cash, while an additional seven ETH moved through FixedFloat.
Notably, Tornado Cash was delisted from U.S. Treasury Department sanctions in March 2025. Nevertheless, the utilization of this privacy protocol may continue to present obstacles for investigators attempting to recover or trace the diverted funds.
Raydium Will Reimburse All Losses Raydium has publicly committed to utilizing its treasury reserves to compensate all financial damages stemming from this security breach. While the protocol emphasized that no current active users suffered losses, some participants maintained residual exposure through the deprecated pool contracts.
This marks the second occasion where Raydium has pledged to absorb user losses. Following an admin key security breach in December 2022 that affected operational pools, the project implemented a governance-approved compensation plan utilizing buyback fee revenue and vested team token allocations to restore liquidity provider funds.
The development team confirmed that all currently deployed mainnet programs remain secure and are presently undergoing comprehensive independent security audits.
Market response to the incident proved minimal. Raydium traded around $0.57, experiencing less than a 1% decline during the 24-hour window after the exploit became public. Solana experienced a modest drop of nearly 2%, settling around $63.88 throughout the identical timeframe.
The RAY token demonstrated resilience, actually gaining more than 2% on the day news of the security breach emerged.
Raydium clarified that both its SDK and decentralized application infrastructure lack functionality for interacting with the legacy AMM V3 pools on the mainnet, effectively confirming the attack remained isolated to decommissioned code.
Security researchers from PeckShield and Specter maintain ongoing efforts to track the movement of stolen digital assets. According to currently available blockchain data, the exploitation remained entirely confined to obsolete infrastructure components without penetrating Raydium’s operational trading ecosystem.
PANews reported on June 17 that, according to The Rage, the retrial date for Tornado Cash founder Roman Storm has been set. A U.S. court has approved the prosecution's pretrial schedule, confirming that the U.S. Attorney's Office for the Southern District of New York will retry Storm this fall on charges of conspiracy to commit money laundering and conspiracy to violate sanctions. The court has not yet ruled on Storm's Rule 29 posttrial motion. This motion argues that the prosecution's evidence and charges are invalid and, if upheld, could overturn the undocumented money transfer conviction from last August and prevent a retrial.
US prosecutors propose late 2026 retrial for Tornado Cash co-founderFederal prosecutors on Monday submitted a proposed schedule for the potential retrial of Tornado Cash co-founder and developer Roman Storm to begin later this year. Storm was found guilty on one of three charges related to illegal money transmitting in 2025, but a jury deadlocked on two other charges, setting the stage for a potential retrial.
US Attorney for the Southern District of New York (SDNY) Jay Clayton Clayton proposed an Oct. 20 final pretrial conference in Storm’s case, signaling a potential trial start date of late October or November 2026. The filing noted that the timeline was subject to the court’s decision on a Rule 29 motion filed by Storm requesting acquittal of the remaining charges.
Source: PACER
Storm’s case continues to draw attention from many in the crypto industry given the implications for developers potentially being held criminally liable for code they write. Should a retrial be scheduled, the Tornado Cash co-founder could face the two remaining charges of conspiracy to commit money laundering and conspiracy to violate sanctions again.
Judge sets 60-day deadline for prosecutors to respond to Celsius CEO’s motion to vacate sentenceAlex Mashinsky, the former CEO of cryptocurrency lending platform Celsius who said he would be representing himself in court, could receive an answer to his pro se motion to vacate his 12-year sentence before the end of the year.
In a Saturday filing in the US District Court for SDNY, Judge John Koeltl granted a motion giving prosecutors until mid-August to respond to Mashinsky’s request to vacate his sentence. The 60-day deadline followed the former Celsius CEO requesting the judge vacate his May 2025 sentence, which resulted in Mashinsky reporting to federal prison.
Mashinsky, once one of the most recognizable figures in the crypto industry, was indicted in 2023 with his cohort Roni Cohen-Pavon on charges related to fraud and market manipulation. Celsius filed for bankruptcy in 2022 amid the crypto market downturn that resulted in the collapse of exchanges including FTX and Voyager Digital.
The former CEO was ordered to pay $48 million in forfeiture as part of his criminal case. Cohen-Pavon was sentenced to time served but ordered to pay more than $1 million and a $40,000 fine.
Judge sets December 2026 trial for US soldier in Polymarket insider trading caseGannon Ken Van Dyke, the US soldier charged after allegedly making more than $400,000 on a Polymarket event contract related to the capture of Venezuela President Nicolás Maduro, is looking at a December 2026 trial after his April arrest.
In a June 10 SDNY filing, Judge Margaret Garnett ordered pretrial motions for US prosecutors and defense attorneys in Van Dyke’s case, culminating in jury selection scheduled for Dec. 7. The soldier allegedly used nonpublic information to profit off the removal of Maduro in January, when US forces entered his residence in Caracas and extradited him to the United States to face criminal charges.
The Van Dyke case carries potential implications for Polymarket and other prediction markets platforms facing scrutiny from US lawmakers calling for elected officials to be barred from potentially betting on events with classified or nonpublic information. Van Dyke has pleaded not guilty to all charges.
Magazine: Bitcoin, the ‘canary in the coal mine,’ XRP transaction demand falls 91.5%: Market Moves
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.
UXLink, a Web 3 social network that was targeted in September 2025, is making headlines once again. According to Specter, an on-chain investigator, the attacker responsible for the UXLink exploit has started relocating the stolen assets.
To obfuscate transaction trails, the wrongdoer converted some of the stolen DAI stablecoins into Ethereum [ETH]. Going forward, the illicit actor then deposited roughly $8.1 million worth of ETH into Tornado Cash.
Funds laundered According to the investigator, 46 distinct deposits of 100 ETH each were made as part of the laundering process.
Source: Specter For those unaware, this is a common strategy to conflate illegal funds with legal transactions and make blockchain tracing more difficult.
With this most recent action, the attacker has now reportedly laundered a total of $19.1 million in stolen assets.
However, the fact that the exploiter still has control over about $16 million in funds despite these transfers raises the possibility of further laundering.
How was UXLink attacked? Well, back in September 2025 the exploiter had made over $800 billion, or 9 trillion $UXLINK. Interestingly, even hours after the original exploit, the hacker kept their access and kept minting more tokens.
The exploiter then started moving the proceeds to centralized exchanges and offloading the fraudulent tokens through decentralized exchanges. This in turn resulted in the depletion of Uniswap’s liquidity.
Source: Specter Notably, the attacker did not stop there, and signed a malicious transaction and lost 542 million UXLINK tokens to another malicious actor—often referred to as “theft stolen from theft.”
Even with this setback, the main exploiter still held about 900 million UXLINK tokens, putting a sizable portion of compromised assets in the hands of malicious actors.
What’s more? This coincded with ETH declining by 1.01% over the previous day to trade at $1,745.11 at press time.
In addition, on the 12th of June Humanity Protocol reported a targeted phishing attack against one of its directors.
This had resulted in the attacker using administrative credentials that were stolen to upgrade contracts, transfer tokens across Ethereum, and mint new $H tokens on the BNB Smart Chain.
Furthermore, on the 15th of June, a suspicious transaction involving the depletion of assets valued at approximately $2.19 million occurred in Aztec Network’s Router contract.
Final Summary From September 2025 to the present time, the attackers have reportedly laundered a total of $19.1 million in stolen assets from the UXLink exploit. Back then, the exploiter had made over 9 trillion $UXLINK, kept their access, and kept minting more tokens.
PANews, June 20 – According to on-chain monitoring data from blockchain security firm PeckShield, the OLPC/LABUBU trading liquidity pool on PancakeSwap on BNB Chain was hit by a hacker attack, with the attacker stealing approximately $1.1 million worth of crypto assets.
After the attack, the hacker quickly carried out fund transfer operations, bridging all stolen assets to the Ethereum network and depositing 633.4 ETH into the compliance-restricted mixing protocol Tornado Cash, using the mixing tool to sever the fund trail and significantly increase the difficulty of asset tracing.
In addition, the attacker conducted a small test transfer, sending 0.0221 BNB and 0.0411 ETH to a long-abandoned address. The purpose of this small transfer has not yet been determined. Currently, the PeckShield security team continues to track the attacker's full address chain, details of the attack contract vulnerability, and the remaining fund transfer paths.
On June 20th, PeckShield monitoring detected a flash loan attack targeting the OLPC/LABUBU liquidity pool on PancakeSwap over the BNB Chain, resulting in approximately $1.1 million in losses. Following the breach, the attacker transferred the stolen funds to the Ethereum network. They deposited 633.4 ETH into Tornado Cash, while sending 0.0221 BNB and 0.0411 ETH to an unusable blackhole burn address.
Relevant content
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
4 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
4 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
4 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
4 minutes ago
SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
4 minutes ago
The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
JaredFromSubway attacker transfers 2000 ETH via Tornado Cash and sells 1422 ETH
PANews, June 23 – According to Onchain Lens monitoring, the attacker of the MEV bot "JaredFromSubway" transferred 2,000 ETH (approximately $3.44 million) through Tornado Cash, sold 1,422 ETH for 2.446 million DAI, and currently holds only 5 ETH (approximately $8,630).
Share to:
Author: PA一线
This content is for market information only and is not investment advice.
Follow PANews official accounts, navigate bull and bear markets together
The person who pulled off one of the most brazen exploits in Ethereum’s MEV ecosystem is not sitting still. The attacker who drained the infamous Jaredfromsubway.eth sandwich bot has now routed approximately 2,000 ETH through Tornado Cash, the privacy mixer that remains the go-to laundering tool for on-chain criminals.
On top of the mixing, the exploiter swapped 1,422 ETH for roughly 2.45 million DAI. That leaves a minimal ETH balance in the attacker’s wallets.
How the original exploit went down The exploit, which security firm Blockaid characterized as a “counter-MEV honeypot” attack, was almost poetic in its construction. The attacker deployed fake token contracts and liquidity pools designed to trick the bot into granting token approvals. The exploiter built a trap that looked like a juicy sandwich opportunity, and the bot took the bait.
Advertisement
The scheme played out over several weeks before culminating in a drain that siphoned off more than $7.5 million in various assets. The stolen haul included 1,474.58 WETH, 2.87 million USDC, and 2 million USDT. All of it was converted into approximately 4,400 ETH.
The bounty that went nowhere After the exploit came to light around June 20-21, the Jaredfromsubway.eth operator posted an on-chain message offering a white-hat bounty. The deal was 50% of the stolen funds, roughly 2,150 ETH, in exchange for returning the rest within 48 hours. The message also carried the implicit threat of legal action if the attacker refused.
Rather than returning anything, the attacker has been systematically moving funds through Tornado Cash. The 2,000 ETH transfer, valued at approximately $3.44 million at the time of the transaction, represents a significant chunk of the stolen proceeds being pushed through the mixer.
What this means for MEV and DeFi security The counter-MEV honeypot technique essentially weaponizes a bot’s own aggression against it. MEV bots rely on automated token approvals to execute trades at speed. That same mechanism — the willingness to approve and interact with any contract that presents a profitable opportunity — is exactly what the attacker exploited.
Despite being sanctioned by the US Treasury’s Office of Foreign Assets Control back in 2022, Tornado Cash remains operational as a decentralized protocol. Every major exploit that routes funds through it renews the debate about whether privacy tools are a necessary feature of financial freedom or primarily an enabler of theft.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The attacker moved 2,000 ETH through Tornado Cash and sold 1,422 ETH for $2.4M in DAI, with just 5 ETH left in their wallet.
The attacker behind the exploit of Ethereum MEV bot Jaredfromsubway has moved millions of dollars through Tornado Cash, despite a public offer to return half the stolen funds in exchange for a white-hat bounty.
The transfer suggests that the attacker may have little interest in negotiating, even with the bot’s operator offering rewards and claiming that they have had discussions with potential recovery groups.
How the Bot Got Beaten at Its Own Game The exploit, according to Peckshield, happened on June 20 and netted the attacker 1,474 WETH, 2.87 million USDC, and 2 million USDT, with apparently no code being broken.
Another blockchain security firm, Blockaid, explained that the person responsible built a number of fake wrapper tokens, including fWETH, fUSDC, and fUSDT, and paired them with fake liquidity pools that appeared to the bot’s automated scanning system as profitable MEV opportunities.
It then did exactly what it was designed to do: spot a supposedly juicy trade and grant token approvals to the attacker’s helper contracts. Per Blockaid’s analysis, during early test transactions, those approvals were consumed normally, meaning nothing flagged as suspicious. Later, the exploiter crafted routes where the bot kept granting approvals that were never revoked, building up spending rights over the bot’s holdings in the process while waiting for the right moment.
When that moment finally came, the attacker’s contract used those open approvals to pull WETH, USDC, and USDT directly from the Jaredfromsubway contract using standard transferFrom calls. Crypto researcher RaFi, who posted a detailed thread about the incident, described it as a “masterclass in social engineering on-chain.”
The bot’s operator’s response came in waves. They first offered a $1 million reward to the hacker to return the stolen money and another $50,000 for anyone that could help them find the attacker. Soon after, they offered a $3 million “time-sensitive” bounty for the funds, promising full confidentiality and no questions asked.
You may also like: BitMine, SharpLink, and Joe Lubin Back New Ethereum Nonprofit ETHLabs New Proposal Redirects 10% of Staking Rewards to Fund Ethereum Ecosystem The Revenue Divergence: Why Record-Breaking Ethereum Activity Isn’t Boosting ETH Price With no discernible response coming, the Jaredfromsubway operator decided to send an on-chain message saying that they would accept 2,150 ETH, which is about 50% of the haul, and gave the attacker 48 hours to respond, with plans to “pursue all available legal and law-enforcement remedies” if the deadline passed without a return.
But the attacker seems to have given a response of a kind, with Onchain Lens reporting that they recently moved 2,000 ETH, worth about $3.4 million, through Tornado Cash. They are also said to have sold 1,422 ETH for around $2.4 million in DAI, and had only 5 ETH remaining in their wallet.
White-Hat Contact As of the most recent update, the bot runner said that a self-described white-hat group had made contact and that negotiations were ongoing, although nothing had been confirmed.
Blockchain developers have been trying to find ways to reduce MEV activity, one such method being a proposal by Aptos to encrypt mempool systems so as to keep transactions private until they are executed.
The attacker who stole from Jaredfromsubway.eth Maximal Extractable Value (MEV) bot may have been actively working towards hiding the evidence of the exploit.
Specter, an on-chain investigator, is in the news today after he reported that out of the $7.5 million that was stolen, about $5.1 million has already been transferred to Tornado Cash.
Source: Specter/X Funds laundered in batches According to the latest transactions, the attacker used 20 different transactions, each worth 100 Ethereum [ETH], to deposit 2,000 ETH into Tornado Cash.
Remarking on the same, Specter noted,
It looks like the attacker has no intention of returning any funds to jaredfromsubway.
To lessen exposure to ETH price volatility and ease future fund transfers, the remaining 1,422 ETH were exchanged for roughly $2.44 million worth of DAI – A dollar-pegged stablecoin.
At the time of the attack, the price of ETH was trading close to $1,700. However, the price of Ethereum fell by more than 8% over the previous week to $1,656.04.
Notably, ETH’s price decline was not solely due to the attack rather the broader market downturn.
Details of the attack The attacker first imitated a lucrative opportunity by creating a liquidity pool and a wrapper token. Then, the wrongdoer altered the trading logic of the MEV bot to fool it into automatically approving transactions. All while the bot engaged with these opportunities.
This permanently allowed the attacker-controlled contract to take money out. The exploit itself brought in 1,583 ETH, $2.87 million in USDC, and $2.09 million in USDT.
Afterwards, the attacker combined the assets and exchanged them for 4,427 ETH, which lessened fragmentation and facilitated the money laundering process.
Impact of funds moving across chain after exploits The most recent actions of the attacker highlight a typical trend observed following significant crypto exploits. When attackers starts laundering funds, the stolen money is quickly split up. It is then exchanged and sent through several blockchains and privacy tools to complicate recovery and tracing.
When attackers bridge assets across chains and transform them into different tokens or stablecoins, such post-hack behavior frequently transcends a single network.
Recently too, two suspected cryptocurrency laundering service operators were charged by U.S authorities. This, after they allegedly processed over $389M in illegal digital asset transactions.
Final Summary Jaredfromsubway.eth Maximal Extractable Value (MEV) bot attacker has now started to launder funds after the exploit. All this has raised legitimate concerns about funds laundering.
PANews June 25 news, according to Peckshield monitoring, the KyberSwap attacker has once again transferred 2,000 ETH to TornadoCash. Over the past two years, the attacker has laundered 16,100 ETH (about $40 million) through the mixer, accounting for more than 80% of the $48.8 million stolen in the November 2023 attack.
According to PeckShield’s monitoring, an address identified as the KyberSwap attacker has once again transferred 2,000 ETH to Tornado Cash. Over the past two years, this attacker has cumulatively transferred and mixed 16,100 ETH via Tornado Cash, equivalent to roughly $40 million at current prices, accounting for over 80% of the $48.8 million lost in the KyberSwap attack in November 2023. Some of the stolen funds have not yet been fully transferred.
Relevant content
Preview: The U.S. May core PCE data will be released at 20:30 tonight, and is projected to hit its highest level since October 2023.
The Fed’s key inflation gauge, the Personal Consumption Expenditures (PCE) price index, will be released at 20:30 tonight, with markets expecting a sharp rise in May inflation that could reignite rate hike bets. The headline PCE year-over-year growth rate is projected to hit 4.1% in May, up from 3.8% in April and marking its highest level since 2023. Core PCE, which excludes food and energy, is forecast to rise to 3.4% year-over-year, up from 3.3% in April and its highest reading since October 2023. Core PCE has remained above the Fed’s 2% inflation target since 2021. The recent short-term inflation uptick was driven mainly by surging gasoline prices amid the Iran conflict in May. Oil prices have since edged lower following the signing of a peace deal between the U.S. and Iran, but core inflation has strengthened in tandem, indicating that price pressures are not solely tied to geopolitical oil shocks. Data from the CME FedWatch Tool shows that as of Wednesday, markets are pricing in a 34% probability of a 25 basis point rate hike in July. Aditya Bhave, U.S. economist at Bank of America Securities, noted that the recent inflation rebound stems in part from tariffs and one-off disruptions, but successive supply shocks have eroded the Fed’s patience, while deflationary room in the housing sector has largely been exhausted. Data shows that core PCE dipped to 2.6% in April, its lowest level since 2022, but annualized core PCE growth over the past three and six months has hovered near 3.8%.
4 minutes ago
SK Hynix plans to list on NASDAQ on July 10: A crypto whale opens 90% of its bullish positions in a single day, with all $21.27 million in long positions in unrealized profit.
According to Hyperinsight’s monitoring, SK Hynix officially announced its U.S. listing date today, targeting a July 10 debut on the NASDAQ. The company had previously disclosed a over $29 billion listing fundraising plan yesterday afternoon. Driven by listing optimism, SKHX surged 14% intraday, hitting $1930 at press time, with a daily trading volume of $407 million and open interest of $237 million. Since the news broke yesterday, 10 whales have built positions in SKHX on Hyperliquid, 9 of which opened long positions totaling around $21.27 million, at an average entry price of ~$1797.8 and average unweighted liquidation price of ~$1390.6. With price gains, all 9 long positions are now in unrealized profit. Market data shows that positions of over $1 million amount to roughly $140 million, with a long-short ratio (longs/shorts) of ~0.715. The average entry price for longs is ~$1672, while shorts average ~$1640. The nearest short liquidation threshold stands at $2149, just $200 away from the current price, mounting short-side pressure. -HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group, set it as admin (enable message sending permission) to auto-sync on-chain updates.
4 minutes ago
The "Retail vs. Wall Street" concept-linked token WEN continues its strong run, rising over 18% in after-hours trading.
According to Bitget market data, Wendy's (WEN) rallied 25.66% in the regular trading session, then climbed an extra 18.96% in after-hours trading, now changing hands at $9.35. Earlier reports noted that Serenity took to Twitter to mock the latest meme stock movement unfolding on Reddit's high-risk trading communities, targeting U.S. fast-food chain Wendy's. The Reddit community's meme warning reads: "If Wendy's goes bankrupt, we'll all be out of jobs, and after losing all our trading money, we'll have to work behind Wendy's trash cans." Serenity later clarified that they hold no positions, only found the activity amusing, and added they were unsure if the campaign would succeed. Wendy's holds a special cultural status on Reddit's WallStreetBets community; for years, "working behind Wendy's trash cans" has been a staple joke among retail investors mocking their trading losses.
4 minutes ago
Danske Bank: Federal Reserve may raise interest rates at least twice
Danske Bank senior analyst Kirstine Kundby-Nielsen and chief analyst Jens Peter Sorensen stated in a report that they expect the U.S. Federal Reserve to raise interest rates twice, in December 2026 and March 2027 respectively, bringing the federal funds rate to 4.00%-4.25%. "However, we emphasize there is a risk that rate hikes could come earlier and that the number of hikes may exceed two," they said. The first Federal Reserve meeting led by Kevin Warsh sent a clear signal that the Fed is increasingly moving away from forward guidance surrounding future monetary policy decisions. "All signs indicate that (the Fed) is leaning toward having greater discretion in future policy decisions," the Danske Bank analysts added. Source: Jin10
4 minutes ago
SK Hynix's stock price rise widened to 15.4%, while Samsung Electronics gained 6.3%.
According to Bitget data, SK Hynix’s stock price gain has widened to 15.4%, with Samsung Electronics up 6.3%.
4 minutes ago
The entire cryptocurrency market is down across the board; funding rates indicate BTC remains in bearish territory, while ETH’s bullish sentiment is significantly stronger than BTC’s.
According to HTX market data, Bitcoin is currently trading at $61,684.51, down 1.88% in the past 24 hours; Ethereum is at $1,647.36, down 1.48% over the same period. Current funding rates on major centralized exchanges (CEXs) show a clear divergence between BTC and ETH: BTC rates across all platforms have fallen back into bearish territory, while ETH rates on most platforms remain above the neutral range, indicating significantly stronger bullish sentiment for ETH than BTC. BlockBeats Note: Funding rates are fees set by cryptocurrency trading platforms to maintain the balance between contract prices and underlying asset prices, typically applicable to perpetual contracts. They serve as a fund exchange mechanism between long and short traders; platforms do not collect these fees, instead using them to adjust the cost or return of traders holding contracts, so that contract prices stay close to the underlying asset prices. A funding rate of 0.01% is the benchmark. A rate above 0.01% indicates broad bullish market sentiment, while a rate below 0.005% signals widespread bearish sentiment.
pSTAKE Finance, backed by Binance Labs and a prominent figure in the liquid staking sector, is set to introduce a novel liquid staking solution for Bitcoin, constructed on Babylon's framework. This development marks a significant extension of pSTAKE's offerings beyond its initial focus area within the Cosmos network, where it first introduced liquid staking in 2021.
In a strategic partnership with Babylon, pSTAKE Finance aims to streamline the staking process, thus enabling Bitcoin holders to engage in yield-generation activities without sacrificing the liquidity of their assets. This approach is anticipated to optimize yield opportunities for users and expand the utility of Bitcoin within the broader digital asset ecosystem.
Persistence Labs co-founder and CSO Mikhil Pandey noted that the initiative is poised to enhance Bitcoin's role within today's DeFi landscape by offering simple, efficient financial products. “Bitcoin's future has never been so exciting, with simple BTC-first financial products anticipated to bring much-needed liquidity and utility to today's DeFi landscape,” Pandey noted.
Fisher Yu, Co-founder of Babylon, highlighted the synergistic nature of the collaboration, aiming to propel Bitcoin into the future of finance. “By integrating our BTC staking protocol, we're enabling pSTAKE to simplify and amplify the yield generation process for Bitcoin holders,” Yu explained. He emphasized that the collaboration illustrates their commitment to enhancing Bitcoin's utility and liquidity, paving the way for a Bitcoin-powered DeFi ecosystem.
Historically, liquid staking was predominantly associated with Ethereum. However, Babylon's infrastructure is set to democratize access to similar yield generation and staking rewards opportunities for Bitcoin users.
CryptoSlate Daily Brief
Daily signals, zero noise.Market-moving headlines and context delivered every morning in one tight read.
5-minute digest 100k+ readers
Free. No spam. Unsubscribe any time.
You’re subscribed. Welcome aboard.
Technological innovations within the Bitcoin ecosystem, such as Bitcoin Layer-2 solutions, are gradually shaping Bitcoin into a yield-bearing asset. These advancements, alongside Babylon's native Bitcoin staking capabilities, are expected to foster a diverse range of yield-generation avenues for Bitcoin in the near future.
BTC deposits on the pSTAKE platform are slated to commence in the coming weeks, marking a significant milestone in the availability of staking solutions for Bitcoin holders. David Tse, founder of Babylon, appeared on a recent episode of the SlateCast, where he outlined the power of Bitcoin staking as a tool to secure other blockchains.
In this episode of Blockcast, we take a deep DeFi dive into the murky waters of liquid staking with former Product Lead of Persistence Labs and co-founder of pSTAKE Finance, Mikhil Pandey.
Developed by the Persistence Labs team, which founded Persistence One, a Layer 1 blockchain; pSTAKE Finance offers Bitcoin liquid staking solutions built atop Babylon’s protocol.
As tokenization becomes an increasingly hot topic, the question of what liquid staking can bring to the sector is of developing interest for the DeFi world.
Pandey walks Blockhead through their journey on why they chose to build pStake on Babylon, what led to their decision to halt their Solana liquid staking solution and explains why Bitcoin might offer the best form of liquid staking for the market.
🎙️ Hey there, Blockcast listeners! 🎙️ This podcast provides commentary and discussion on cryptocurrency and related topics. It is intended for informational and entertainment purposes only and should not be construed as financial advice. Guests appearing on this podcast may discuss companies or strategies, but these discussions are not recommendations to buy, sell, or hold any particular asset or pursue any specific strategy. The hosts and guests are not financial advisors, and listeners are urged to consult with a qualified professional before making any investment decisions. Investments in cryptocurrency are inherently risky, and you could lose money.
In a move towards crypto expansion, Stripe, a popular payment processing firm has announced a recent integration with Avalanche (AVAX). With the integration, Stripe has expanded its offering to include support for Avalanche C-Chain, introducing a seamless path for retail users to acquire AVAX directly, without dealing with the hassles of crypto exchanges.
Avalanche Utilizes Stripe’s Fat-to-Crypto Onramp As revealed in a blog post, Core, Avalanche’s native ecosystem wallet and portfolio developed by Ava Labs has already integrated Stripe’s onramp. Stripe’s onramp provides a direct and efficient method for users to fund their wallets with AVAX and other supported tokens.
The onramp has built-in fraud prevention and identity verification tools to help companies meet Know-Your-Customer (KYC) and compliance requirements. With just a Gmail or Apple ID, individuals can create a Core wallet and purchase AVAX through Core’s extension or web app at core.app.
As a result of this integration, users can now access streamlined crypto products and Decentralized Applications (dApps) such as Decentralized Exchanges (DEXs), digital wallets, and Non-Fungible Tokens (NFT) platforms running on Avalanche.
Anyone can buy Avalanche’s native AVAX coin using debit or credit cards through the help of a widget that will be installed in Core. According to the announcement, Stripe will take care of all issues relating to KYC procedures, payments, fraud, and compliance.
Several prominent Avalanche ecosystem partners have already signaled their intention to integrate with Stripe, including GoGoPool, Avvy, Pakt, zeroone, Halliday, The Arena, Shrapnel, and DeFi Kingdoms.
John Egan, Head of Crypto at Stripe commented on the integration stating, “We’re excited to add AVAX into our onramp’s family of supported networks. Further enabling consumers to onboard into Avalanche’s growing dApp ecosystem is closely aligned with our goal of making it safe and easy for everyone to access the power of Web3.”
Avalanche is a Layer-1 blockchain network, competing with Ethereum (ETH) by offering a cheap and fast blockchain for developers to build upon. It is the network behind AVAX, the 12th largest digital asset with a market cap of $13.2 billion. As of the time of writing, AVAX is trading above $34.92, representing an increase of 0.6% in the past day. This nominal increase comes after the coin dropped 11% within the past week.
Stripe Making Strides in the Crypto Space Stripe, which has been topping charts since 2021 was one of the first major companies to accept Bitcoin payments in 2014. The company, however, dropped the service in 2018, but added that it was still “very optimistic about cryptocurrencies overall.”
In a recent development, the company announced plans to start supporting transactions domiciled in Circle’s native stablecoin USD Coin (USDC) beginning this Summer. As Stripe unveiled, all the USDC will initially launch through Ethereum, Solana, and the Polygon blockchain networks.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Altcoin News, Cryptocurrency News, News
Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
Are you ready to dive into the world of crypto gaming? Let’s unpack the leading P2E games of 2024! From BlockDAG’s innovative TG Tap miner to the quirky The Meme Games, the pixel-rich adventure in DeFi Kingdoms, to the expansive realms of Decentraland, there’s a wealth of unique gaming experiences up for grabs. Not to forget the ever-popular CryptoKitties, still charming the gaming community. Whether you’re a veteran gamer or just dipping your toes into digital waters, these games offer both fun and a chance to pocket some earnings.
1. BlockDAG: Big Wins with TG Tap Miner! Keen on a game that marries top-notch technology with fun? Put BlockDAG on your radar. Leveraging Directed Acyclic Graph (DAG) technology, BlockDAG marries Bitcoin’s robust security, Kaspa’s lightning speed, and Ethereum’s versatile interoperability. This trifecta has not only carved a significant niche in the crypto scene but also drummed up $72.4 million in presale funds, attracting over 120,000 unique holders.
BlockDAG’s foray into gaming introduces TG Tap Miner, a straightforward yet engaging play-to-earn clicker game on Telegram. Players tap away at falling balls within a minute, with different types of balls offering varying points — diamond balls rake in the highest points. Accumulated tap points can be exchanged for BDAG coins.
2. DeFi Kingdoms: A Trip Down Memory Lane with RPG Flair! Step into the pixel-art laden world of DeFi Kingdoms, a role-playing game set against a medieval backdrop. Here, players can embark on quests, trade, and mingle with others, all while earning in-game rewards. Its old-school pixel graphics whisk you back to the days of classic RPGs.
But it’s not just a pretty face; DeFi Kingdoms integrates decentralized finance, allowing you to farm, stake, and earn tokens as you play. This melding of RPG and DeFi elements delivers a gaming experience that’s as profitable as it is nostalgic.
3. CryptoKitties: The Enduring Allure of Digital Cats! Since its 2017 debut, CryptoKitties remains a staple in the P2E domain. In this game, players collect, breed, and trade virtual cats, each uniquely minted as an NFT. The simple joy of collecting these digital kitties and breeding new, unique offspring injects both strategy and fun into the experience, solidifying CryptoKitties’ role as a blockchain gaming pioneer.
4. Decentraland: Craft Your Virtual Destiny! Enter Decentraland: a sprawling, player-owned virtual world where creativity meets commerce. Launched in 2017, it’s grown into a leading P2E platform buzzing with activity. In Decentraland, players can buy plots of land, develop them into interactive experiences, and monetize their creations using the native MANA token, truly owning their virtual exploits.
5. The Meme Games: Win Big with Viral Fun! Drawing inspiration from the 2024 Paris Olympics, The Meme Games aim to be the unofficial meme token mascot of the event, especially among the degen crowd. This game fuses the viral nature of memes with the competitive spirit of the Olympics, offering a platform where players can earn by tackling various meme-centric challenges.
The Best P2E Games of 2024: Where Fun Meets Earnings! With trailblazers like BlockDAG setting new standards with their creative take on blockchain gaming, the future of gaming is not just arriving—it’s here. Whether you’re drawn to the nostalgia of DeFi Kingdoms, the vast possibilities in Decentraland, the meme magic of The Meme Games, or the collecting craze of CryptoKitties, there’s a slice of this vibrant gaming pie for everyone.
If one were to spotlight a standout, BlockDAG’s TG Tap Miner shines with its blend of simplicity, engagement, and profit potential. So gear up, jump into these games, and immerse yourself in the leading P2E games of 2024!
Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this press release does not represent any investment advice. TheNewsCrypto recommend 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.
