Solana’s price action this year has followed a clear but uncomfortable pattern. After pushing to a new all-time high around the $296 region in January, the rally quickly lost momentum and transitioned into a steady decline that has persisted for months.
Many traders have attributed this weakness to a risk-off sentiment across crypto, but a deeper on-chain breakdown shared by crypto analyst Ardi on X suggests the story began well before the January peak and has more to do with who was buying and who was quietly exiting.
Distribution Was Already Underway Before The January Peak Solana has been on a clear downtrend since September, when it reached a lower high of around $247 compared to its January 19 all-time high of $293. One of the most important insights from Ardi’s analysis is that Solana’s January all-time high did not mark the start of distribution but rather the culmination of it.
The chart attached to his post shows that selling volume was already increasing months earlier, well ahead of October, meaning that large holders were positioning for exits long before price reached its final peak. From that perspective, the January high looks less like the beginning of a new expansion phase and more like the last push of a rally.
Source: Chart from Ardi on X After that point, price action began forming lower highs, and each rebound attempt lacked the strength needed to reclaim the all-time high. Interestingly, Solana failed to reach a new all-time high, even as other large market cap cryptos like Bitcoin, Ethereum, XRP, and BNB pushed to new all-time highs during the year.
Another interesting feature of the data is the widening gap between retail behavior and that of larger players. Cumulative delta metrics on the chart show that retail-sized wallets have been consistently active throughout the year and are increasing their activity even as Solana’s price moved lower.
On the other hand, mid-sized and institutional wallets tell a very different story. Their activity has been trending downward for months, starting from the January peak and extending up until the time of writing.
Is Solana’s Price Becoming Dependent On Memecoin Activity? Ardi’s analysis also raises a broader question about what is currently driving demand for Solana. Outside of retail activity on Solana itself, one of the few consistent sources of activity has been the memecoin sector. Successes and booms of meme coins like Cat in a Dogs World (MEW), Peanut the Squirrel (PNUT), and Fartcoin (FARTCOIN), which gained traction in the second half of 2024, contributed to Solana’s push to all-time highs during those periods.
Those meme coin successes culminated with the launch of the Official Trump ($TRUMP) token in January 2025 on Solana, which experienced eye-watering gains shortly after its launch. This, in turn, contributed to Solana’s all-time high in January.
However, since then, the TRUMP token and other Solana-based meme coins have been trending downwards in recent months and no longer command the same level of attention or trading intensity they had this time last year. That has led to the view that Solana’s price is increasingly sensitive to the success of memecoins in its ecosystem.
At the time of writing, Solana is trading at $121.50, down by about 58.6% from its January all-time high of $293.
SOL trading at $121 on the 1D chart | Source: SOLUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com
Zircuit crypto has surged 165% from its ATL in late June, and the upcoming launch of Binance’s ZRC perps could spark even bigger gains.
Summary
Zircuit crypto has rallied 165% from its all-time low in late June and is now consolidating above $0.033 support. Of that gain, a 35% jump occurred on July 24, fueled by Zircuit’s unveiling of its upcoming AI-powered trading product. Binance just launched ZRC perps, which may serve as a catalyst for a potential 35% rally. Zircuit (ZRC) price has recently staged a strong rally from its all-time low of $0.01948 reached on June 27, climbing 165% to an intraday high of $0.052 on July 25. On July 24 alone, Zircuit crypto gained over 35%, likely driven by the unveiling of Zircuit’s new AI-powered trading product, with a public launch slated for August this year.
After that, ZRC price pulled back sharply to $0.033 level, which has since acted as a support zone, with the token consolidating above it, currently trading at $0.037, as the market decides its next direction.
Source: TradingView Zircuit crypto price prediction A major catalyst just emerged that may serve as a trigger for the next leg up for Zircruit crypto: Binance has announced it will launch the ZRCUSDT perpetual contract on July 29.
This isn’t just bullish because it’s happening on Binance, the largest crypto exchange by trading volume, but also because perpetual contracts allow traders to use leverage, which can significantly amplify buying pressure and trigger explosive moves — especially in the current bullish conditions, with Bitcoin (BTC) trading near its ATH.
The development adds to an already bullish technical setup:
MACD remains positive, with the MACD line above signal line and the histogram printing green. RSI has reset from overbought levels to around 58, leaving ample room for further upside before becoming overextended again. The price remains well above the 20-day EMA, which itself has crossed above the 50-day SMA—a classic bullish crossover. If current support holds, the next key resistance sits around $0.050 — a 35% move from current level — with the potential to push even higher toward $0.055, where the May rally topped out.
George Town, Grand Cayman, September 16th, 2025, Chainwire
Zircuit, a security-first zk-rollup, today announced the launch of a new $495,000 grant program to support developers building applications and infrastructure on its network.
This program introduces two funding tracks tailored to different types of builders:
Super App Track: Two grants of $135,000 each ($50,000 in stablecoins and $85,000 in ZRC) for projects with potential to drive significant user adoption and transaction volume. Ecosystem Track: Five grants of $45,000 each ($10,000 in stablecoins and $35,000 in ZRC) for projects that expand Zircuit across key areas such as DeFi, NFTs, gaming, and infrastructure. Applications will be reviewed on a rolling basis, with early submissions prioritized.
“Breakthrough applications need more than hype; they need funding and secure infrastructure,” said Dr. Martin Derka, Co-Founder of Zircuit. “With nearly half a million dollars in grants, we’re positioning Zircuit as the launchpad for the next generation of Web3 apps.”
Application Process
Developers can apply by preparing a GitHub repository with project details, roadmap, milestones, and budget, and submitting via app.zircuit.com/build2025.
About Zircuit
Zircuit: Where innovation meets security, designed for everyone. Zircuit offers developers powerful features while giving users peace of mind. Designed by a team of web3 security veterans and PhDs, Zircuit combines high performance with unmatched security. Experience the safest chain for DeFi and staking. To learn more about Zircuit, users can visit zircuit.com and follow @ZircuitL2 on X
ContactHead of Communications
Jennifer Zheng
Zircuit [email protected]
This article is not intended as financial advice. Educational purposes only.
AUTHOR
Chainwire is The Leading Blockchain and Crypto Newswire and Press Release Distribution Service That Maximize Crypto News Coverage.
George Town, Grand Cayman, September 16th, 2025, Chainwire
Zircuit, a security-first zk-rollup, today announced the launch of a new $495,000 grant program to support developers building applications and infrastructure on its network.
This program introduces two funding tracks tailored to different types of builders:
Super App Track: Two grants of $135,000 each ($50,000 in stablecoins and $85,000 in ZRC) for projects with potential to drive significant user adoption and transaction volume. Ecosystem Track: Five grants of $45,000 each ($10,000 in stablecoins and $35,000 in ZRC) for projects that expand Zircuit across key areas such as DeFi, NFTs, gaming, and infrastructure. Applications will be reviewed on a rolling basis, with early submissions prioritized.
“Breakthrough applications need more than hype; they need funding and secure infrastructure,” said Dr. Martin Derka, Co-Founder of Zircuit. “With nearly half a million dollars in grants, we’re positioning Zircuit as the launchpad for the next generation of Web3 apps.”
Application Process
Developers can apply by preparing a GitHub repository with project details, roadmap, milestones, and budget, and submitting via app.zircuit.com/build2025.
About Zircuit
Zircuit: Where innovation meets security, designed for everyone. Zircuit offers developers powerful features while giving users peace of mind. Designed by a team of web3 security veterans and PhDs, Zircuit combines high performance with unmatched security. Experience the safest chain for DeFi and staking. To learn more about Zircuit, users can visit zircuit.com and follow @ZircuitL2 on X
Contact Head of Communications
Jennifer Zheng
Zircuit [email protected]
George Town, Grand Cayman, 16th September 2025, Chainwire
[PRESS RELEASE – George Town, Grand Cayman, September 16th, 2025, Chainwire]
Zircuit, a security-first zk-rollup, today announced the launch of a new $495,000 grant program to support developers building applications and infrastructure on its network.
This program introduces two funding tracks tailored to different types of builders:
Super App Track: Two grants of $135,000 each ($50,000 in stablecoins and $85,000 in ZRC) for projects with potential to drive significant user adoption and transaction volume. Ecosystem Track: Five grants of $45,000 each ($10,000 in stablecoins and $35,000 in ZRC) for projects that expand Zircuit across key areas such as DeFi, NFTs, gaming, and infrastructure. Applications will be reviewed on a rolling basis, with early submissions prioritized.
“Breakthrough applications need more than hype; they need funding and secure infrastructure,” said Dr. Martin Derka, Co-Founder of Zircuit. “With nearly half a million dollars in grants, we’re positioning Zircuit as the launchpad for the next generation of Web3 apps.”
Application Process
Developers can apply by preparing a GitHub repository with project details, roadmap, milestones, and budget, and submitting via app.zircuit.com/build2025.
About Zircuit
Zircuit: Where innovation meets security, designed for everyone. Zircuit offers developers powerful features while giving users peace of mind. Designed by a team of web3 security veterans and PhDs, Zircuit combines high performance with unmatched security. Experience the safest chain for DeFi and staking. To learn more about Zircuit, users can visit zircuit.com and follow @ZircuitL2 on X.
About the author
Chainwire is a specialized crypto newswire service providing high-impact distribution for the cryptocurrency and blockchain industry.
George Town, Cayman Islands, November 18th, 2025, Chainwire
Zircuit, a zero-knowledge blockchain backed by YZiLabs, Dragonfly, and Pantera, today announced the launch of Zircuit Finance, a platform to address the credit and security risks in DeFi. With $3 billion in assets secured to date, Zircuit Finance is a secure platform for institutional-grade strategies, starting with a stablecoin vault offering up to 11% APY on USDC and USDT, with plans to expand to other assets like BTC and ETH.
The launch follows a series of industry setbacks that have eroded confidence in DeFi, due to persistent gaps in transparency, risk management, and security. Credit events resulting in more than $90 million in aggregate losses exposed the risks of lending to unvetted counterparties. Meanwhile, security incidents in November 2025 revealed that even established protocols can be vulnerable to hacks, resulting in losses of over $100 million, despite adherence to industry best practices. Together, these events highlight the need for stronger safeguards and more dependable infrastructure. Zircuit Finance was created to be that safe haven for onchain finance.
“The future of DeFi isn’t about chasing the highest yields, it’s about building the most secure foundation for capital to grow,” said Dr. Martin Derka, Co-Founder of Zircuit. “Zircuit Finance is part of a broader shift to create a more stable, transparent, and trusted onchain economy where users and institutional allocators can deploy large sums of capital efficiently and safely.”
To mitigate credit risk, Zircuit Finance partners exclusively with tier-one asset managers with multi-year track records and strong balance sheets. Each counterparty operates under a legal framework enforcing creditor rights, collateralization standards, and default covenants. Zircuit mandates frequent exposure reporting to provide real-time visibility into how capital is allocated and managed.
Within this framework, Zircuit vaults allocate capital across both regulated and decentralized venues. A portion of assets will be managed by Monarq Asset Management, a regulated fund specializing in arbitrage and delta-neutral strategies with a history of disciplined risk management. Additional integrations include Aave and Morpho, diversifying exposure across venues and enabling efficient withdrawals.
Zircuit is also partnering with Forteus, the FCA-regulated asset management arm of Numeus Group, to develop alpha-centric investment strategies generating risk-adjusted returns in Ethereum and Bitcoin. These strategies complement Zircuit’s delta-neutral yield foundation managed under institutional-grade oversight.
On the infrastructure side, Zircuit is integrating with FalconX as its prime broker and execution partner. FalconX’s global platform provides institutional-grade custody, trade execution, and risk management, supporting efficient capital deployment and compliance-aligned operations across multiple venues.
“As liquidity flows into DeFi at scale, the platforms that will lead are those delivering both performance and safety while bringing institutional-grade strategies accessible onchain. Our collaboration with Zircuit Finance reflects Monarq’s commitment to powering that next phase of growth, anchored in deep liquidity, disciplined risk, and operational transparency,” said Shiliang Tang, Managing Partner of Monarq Asset Management.
Zircuit Finance’s security architecture provides the foundation for all its institutional partnerships and yield strategies. At the smart contract layer, funds cannot exit the Zircuit Finance vault ecosystem without a depositor’s signature. The vault infrastructure, being audited by Quantstamp and Zenith, is partially insured against smart contract vulnerabilities through Chainproof and incorporates LayerZero’s secure messaging system to enable authenticated cross-chain communication.
Complementing these measures, Zircuit integrates its proprietary AI-powered Sequencer Level Security for vaults deployed on the Zircuit network. Sequencer Level Security proactively detects and quarantines malicious transactions before block inclusion, extending protection beyond the smart contract layer to deliver institutional-grade defense at the blockchain level.
Zircuit Finance is now in early access. To join the Zircuit Finance waitlist and learn more, visit zircuit.com/waitlist.
ABOUT ZIRCUIT
Zircuit is the first zero-knowledge blockchain with integrated Sequencer Level Security. Founded in 2022 by security experts from Quantstamp, Zircuit provides the Layer-2 infrastructure for Zircuit Finance. In addition to powering Zircuit Finance, Zircuit maintains independent operations as a general-purpose rollup, prioritizing high performance with unmatched security, securing up to $3 billion in Total Value Locked.
George Town, Cayman Islands, November 18th, 2025, Chainwire
Zircuit, a zero-knowledge blockchain backed by YZiLabs, Dragonfly, and Pantera, today announced the launch of Zircuit Finance, a platform to address the credit and security risks in DeFi. With $3 billion in assets secured to date, Zircuit Finance is a secure platform for institutional-grade strategies, starting with a stablecoin vault offering up to 11% APY on USDC and USDT, with plans to expand to other assets like BTC and ETH.
The launch follows a series of industry setbacks that have eroded confidence in DeFi, due to persistent gaps in transparency, risk management, and security. Credit events resulting in more than $90 million in aggregate losses exposed the risks of lending to unvetted counterparties. Meanwhile, security incidents in November 2025 revealed that even established protocols can be vulnerable to hacks, resulting in losses of over $100 million, despite adherence to industry best practices. Together, these events highlight the need for stronger safeguards and more dependable infrastructure. Zircuit Finance was created to be that safe haven for onchain finance.
“The future of DeFi isn’t about chasing the highest yields, it’s about building the most secure foundation for capital to grow,” said Dr. Martin Derka, Co-Founder of Zircuit. “Zircuit Finance is part of a broader shift to create a more stable, transparent, and trusted onchain economy where users and institutional allocators can deploy large sums of capital efficiently and safely.”
To mitigate credit risk, Zircuit Finance partners exclusively with tier-one asset managers with multi-year track records and strong balance sheets. Each counterparty operates under a legal framework enforcing creditor rights, collateralization standards, and default covenants. Zircuit mandates frequent exposure reporting to provide real-time visibility into how capital is allocated and managed.
Within this framework, Zircuit vaults allocate capital across both regulated and decentralized venues. A portion of assets will be managed by Monarq Asset Management, a regulated fund specializing in arbitrage and delta-neutral strategies with a history of disciplined risk management. Additional integrations include Aave and Morpho, diversifying exposure across venues and enabling efficient withdrawals.
Zircuit is also partnering with Forteus, the FCA-regulated asset management arm of Numeus Group, to develop alpha-centric investment strategies generating risk-adjusted returns in Ethereum and Bitcoin. These strategies complement Zircuit’s delta-neutral yield foundation managed under institutional-grade oversight.
On the infrastructure side, Zircuit is integrating with FalconX as its prime broker and execution partner. FalconX’s global platform provides institutional-grade custody, trade execution, and risk management, supporting efficient capital deployment and compliance-aligned operations across multiple venues.
“As liquidity flows into DeFi at scale, the platforms that will lead are those delivering both performance and safety while bringing institutional-grade strategies accessible onchain. Our collaboration with Zircuit Finance reflects Monarq’s commitment to powering that next phase of growth, anchored in deep liquidity, disciplined risk, and operational transparency,” said Shiliang Tang, Managing Partner of Monarq Asset Management.
Zircuit Finance’s security architecture provides the foundation for all its institutional partnerships and yield strategies. At the smart contract layer, funds cannot exit the Zircuit Finance vault ecosystem without a depositor’s signature. The vault infrastructure, being audited by Quantstamp and Zenith, is partially insured against smart contract vulnerabilities through Chainproof and incorporates LayerZero’s secure messaging system to enable authenticated cross-chain communication.
Complementing these measures, Zircuit integrates its proprietary AI-powered Sequencer Level Security for vaults deployed on the Zircuit network. Sequencer Level Security proactively detects and quarantines malicious transactions before block inclusion, extending protection beyond the smart contract layer to deliver institutional-grade defense at the blockchain level.
Zircuit Finance is now in early access. To join the Zircuit Finance waitlist and learn more, visit zircuit.com/waitlist.
ABOUT ZIRCUIT
Zircuit is the first zero-knowledge blockchain with integrated Sequencer Level Security. Founded in 2022 by security experts from Quantstamp, Zircuit provides the Layer-2 infrastructure for Zircuit Finance. In addition to powering Zircuit Finance, Zircuit maintains independent operations as a general-purpose rollup, prioritizing high performance with unmatched security, securing up to $3 billion in Total Value Locked.
[PRESS RELEASE – George Town, Cayman Islands, November 18th, 2025]
Zircuit, a zero-knowledge blockchain backed by YZiLabs, Dragonfly, and Pantera, today announced the launch of Zircuit Finance, a platform to address the credit and security risks in DeFi. With $3 billion in assets secured to date, Zircuit Finance is a secure platform for institutional-grade strategies, starting with a stablecoin vault offering up to 11% APY on USDC and USDT, with plans to expand to other assets like BTC and ETH.
The launch follows a series of industry setbacks that have eroded confidence in DeFi, due to persistent gaps in transparency, risk management, and security. Credit events resulting in more than $90 million in aggregate losses exposed the risks of lending to unvetted counterparties. Meanwhile, security incidents in November 2025 revealed that even established protocols can be vulnerable to hacks, resulting in losses of over $100 million, despite adherence to industry best practices. Together, these events highlight the need for stronger safeguards and more dependable infrastructure. Zircuit Finance was created to be that safe haven for onchain finance.
“The future of DeFi isn’t about chasing the highest yields, it’s about building the most secure foundation for capital to grow,” said Dr. Martin Derka, Co-Founder of Zircuit. “Zircuit Finance is part of a broader shift to create a more stable, transparent, and trusted onchain economy where users and institutional allocators can deploy large sums of capital efficiently and safely.”
To mitigate credit risk, Zircuit Finance partners exclusively with tier-one asset managers with multi-year track records and strong balance sheets. Each counterparty operates under a legal framework enforcing creditor rights, collateralization standards, and default covenants. Zircuit mandates frequent exposure reporting to provide real-time visibility into how capital is allocated and managed.
Within this framework, Zircuit vaults allocate capital across both regulated and decentralized venues. A portion of assets will be managed by Monarq Asset Management, a regulated fund specializing in arbitrage and delta-neutral strategies with a history of disciplined risk management. Additional integrations include Aave and Morpho, diversifying exposure across venues and enabling efficient withdrawals.
Zircuit is also partnering with Forteus, the FCA-regulated asset management arm of Numeus Group, to develop alpha-centric investment strategies generating risk-adjusted returns in Ethereum and Bitcoin. These strategies complement Zircuit’s delta-neutral yield foundation managed under institutional-grade oversight.
On the infrastructure side, Zircuit is integrating with FalconX as its prime broker and execution partner. FalconX’s global platform provides institutional-grade custody, trade execution, and risk management, supporting efficient capital deployment and compliance-aligned operations across multiple venues.
“As liquidity flows into DeFi at scale, the platforms that will lead are those delivering both performance and safety while bringing institutional-grade strategies accessible onchain. Our collaboration with Zircuit Finance reflects Monarq’s commitment to powering that next phase of growth, anchored in deep liquidity, disciplined risk, and operational transparency,” said Shiliang Tang, Managing Partner of Monarq Asset Management.
Zircuit Finance’s security architecture provides the foundation for all its institutional partnerships and yield strategies. At the smart contract layer, funds cannot exit the Zircuit Finance vault ecosystem without a depositor’s signature. The vault infrastructure, being audited by Quantstamp and Zenith, is partially insured against smart contract vulnerabilities through Chainproof and incorporates LayerZero’s secure messaging system to enable authenticated cross-chain communication.
Complementing these measures, Zircuit integrates its proprietary AI-powered Sequencer Level Security for vaults deployed on the Zircuit network. Sequencer Level Security proactively detects and quarantines malicious transactions before block inclusion, extending protection beyond the smart contract layer to deliver institutional-grade defense at the blockchain level.
Zircuit Finance is now in early access. To join the Zircuit Finance waitlist and learn more, visit zircuit.com/waitlist.
ABOUT ZIRCUIT
Zircuit is the first zero-knowledge blockchain with integrated Sequencer Level Security. Founded in 2022 by security experts from Quantstamp, Zircuit provides the Layer-2 infrastructure for Zircuit Finance. In addition to powering Zircuit Finance, Zircuit maintains independent operations as a general-purpose rollup, prioritizing high performance with unmatched security, securing up to $3 billion in Total Value Locked.
Zircuit was proud to participate in the ETHGlobal Buenos Aires 2025 Hackathon. The event ran from November 21st to 23rd at the Buenos Aires Convention Centre. For this event, Zircuit gave out five prizes in three categories: best DeFi project on Zircuit (two winners), best use of account abstraction (two winners), and best Zircuit integration. We also gave out a DeFi prize in honor of our new Zircuit Finance announcement this week. As we build towards providing some of the best yield in the space, we aim to re-ignite the spark of DeFi on Zircuit to provide composable options onchain. Our second prize involved account abstraction: we weren’t looking for anything specific here, but we wanted to make sure that useful and interesting account abstraction primitives continue to evolve. Finally, we awarded one prize for simply integrating Zircuit into existing tools, to make sure that your favourite dapp can use Zircuit by default. We had a number of great submissions, and we’re proud to highlight our winners below.
Best DeFi Project on Zircuit We asked hackers to build towards the goal of generating the best APY or improving the user experience of DeFi for the masses on Zircuit.
First PlaceLiquidation Ckt Brkr took home the first-place prize for best DeFi project. Aiming to bring traditional finance margin call behavior to DeFi, we saw the team build an effective and useful Solidity wrapper. The idea was to prevent liquidations in cases of very short drops in price. This allows liquidations to more closely mimic margin calls of old: users could potentially re-collateralize their position if there’s no instant liquidation. Designed to work around many existing DeFi applications, its effective execution shows a lot of promise.
Second PlaceBagra Markets was awarded the second-place prize for this category. They aimed to bring Kalshi's prediction markets onchain. That’s an interesting premise, though there’s a need to make sure onchain assets accurately represent the markets. However, given the attention Kalshi is attracting, we found the project very interesting and would love to see it mature and gain traction.
Best Use of Account AbstractionThis prize was awarded to creative and useful applications of account abstraction on Zircuit.
First PlaceSOS NOT SUS took home the first-place prize for this category, building a way to quickly send digital assets in a hot wallet into a cold one. Envisioned for emergency situations where you don’t want to give up your hard-earned assets, it uses account abstraction to move funds on multiple chains to a safe wallet via a Zircuit transaction. It’s effective, but we hope no one ever actually needs to use it – stay safe out there!
Second PlaceSecond place went to Multisub, a project that combined account abstraction and multi-sig wallets. The goal was to allow multisig wallets to delegate access via account abstraction primitives to allow things like limited spends over a duration, while still keeping funds safe. We liked the idea of combining two key concepts in digital asset management.
Best Zircuit IntegrationThis prize was awarded to one team that integrated Zircuit into an existing web3 project.
WinnerWolfy integrated Zircuit into a fork of Rabby – their favourite wallet, according to the team – adding support for EIP-7702 transactions and functionality along the way. With their fork, users can now view their delegations or point their account to a contract implementation to enable smart-contract behaviors such as batch transactions and more advanced workflows. Hopefully, the Rabby team takes note of this work!
ETHGlobal Buenos Aires highlighted the creativity and technical strength of builders in the ecosystem, and we were excited to see so many teams choose Zircuit for their projects. From new DeFi ideas to useful account abstraction tools and thoughtful integrations, the submissions showed real momentum around what is being built on Zircuit. As we continue to grow the ecosystem and expand Zircuit’s capabilities, we look forward to supporting more teams and seeing these projects evolve. Congratulations to all the winners and participants.
Fusaka (Fulu-Osaka) went live on Ethereum mainnet on December 3, 2025. It’s a major upgrade designed to help Ethereum’s rollup ecosystem grow without becoming slower, more expensive, or harder to participate in.
In this post, we’ll cover the most important changes Fusaka introduces, why they matter for Layer 2s, and what this upgrade means specifically for Zircuit.
What Fusaka ChangesFusaka is an Ethereum upgrade focused on how rollups publish and verify transaction data. At a high level, Fusaka improves three things:
How Ethereum handles rollup dataHow much work validators need to doHow much total activity the network can supportTogether, these changes make it possible for rollups to grow significantly while keeping Ethereum decentralized and accessible.
The Biggest Change: PeerDASThe most important part of Fusaka is PeerDAS.
Before Fusaka, Ethereum validators checked rollup data by downloading all of it. As rollups grew, this became slow, expensive, and hard to scale.
PeerDAS introduces a smarter approach. Instead of downloading everything, validators only check small samples (about 12.5%) of rollup data. If enough pieces are available, the network can be confident the full data exists.
This change has a large impact:
Validators use around 85% less bandwidthStorage requirements are lowerEthereum can support much more rollup activityRunning a validator from home remains realistic
More Rollup Data, Lower FeesWith PeerDAS in place, Fusaka also expands how much rollup data Ethereum can handle.
Blob space increases by roughly 3.5×, giving rollups far more room to post transaction data. With more space available:
Congestion decreasesData costs fallL2 transaction fees drop by 40–60%At the ecosystem level, this increase in data capacity pushes Ethereum’s rollup throughput from roughly 12,000 transactions per second (after Pectra) toward 100,000+ transactions per second.
More Capacity per BlockFusaka also increased Ethereum’s block gas limit from 36M to 60M. In simple terms, this means Ethereum can fit more activity into each block.
This improves baseline network capacity and gives complex applications more room to run smoothly. Additional safety limits ensure this extra capacity doesn’t overload the network.
More Predictable FeesAnother important change in Fusaka is how rollup data fees behave during busy periods.
Instead of fees spiking suddenly when demand increases, Fusaka smooths things out by saving excess fees when demand is low and releasing them when demand is high. This leads to:
More predictable costs for rollupsMore stable fees for users on Layer 2 networks
What This Means for ZircuitFor Zircuit and its users, Fusaka directly improves both cost and performance:
Lower rollup data costs mean cheaper transactionsMore data capacity enables higher sustained throughputMore predictable fees make network operation easier to planZircuit has already rolled out updates to fully support Fusaka, including protocol compatibility changes and optimizations that reduce proving costs. Zircuit has also strengthened its security tooling, which protected over $3M in user funds during Q3 and Q4, and added additional safeguards against denial-of-service attacks.
Looking AheadFusaka lifts one of the biggest long-standing limits on Ethereum’s rollup ecosystem. By making rollup data easier to handle and reducing the work required from validators, Ethereum can now scale much further without giving up on decentralization.
For us at Zircuit, this translates into lower fees, higher throughput, and more predictable network behavior. With Fusaka support already live, we’re excited to keep shipping on top of these improvements!
Rubio: US and Iran to continue technical consultations at the end of this month
Multiple foreign media outlets reported on the 24th that US Secretary of State Rubio said technical teams from the United States and Iran will hold further talks in Switzerland by the end of June. (Xinhua News Agency)
4 hours ago
Over the past 24 hours, total crypto market liquidations hit $606 million, with more than 130,000 traders liquidated.
According to Coinglass data, the global cryptocurrency market recorded $606 million in liquidations over the past 24 hours, including $542 million in long-position liquidations and $68.22 million in short-position liquidations. A total of 135,785 traders worldwide were liquidated in the same period, with the largest single liquidation order occurring on Binance’s BTCUSDT trading pair, valued at $12.0111 million.
4 hours ago
Bitcoin falls below $60,000
According to HTX market data, Bitcoin has fallen below $60,000, with a 4.3% drop in the past 24 hours.
4 hours ago
US Treasury Secretary: AI boom may boost productivity and help curb inflation.
US Treasury Secretary Bessent told CNBC in an interview that he hopes the Federal Reserve will remain "open-minded" about the inflation pattern after the reversal of Iran-related energy price hikes. Bessent noted that the U.S. could enter an economic environment marked by high GDP growth without a corresponding rise in traditional inflation. He cited that in the 1990s, Alan Greenspan foresaw that office modernization and the internet could drive non-inflationary growth, and allowed the economy to keep expanding. Bessent believes the U.S. has a strong chance of seeing a similar scenario again. When asked whether the Fed still needs to worry about potential inflation and whether interest rate cuts are possible this year or next, Bessent declined to comment. However, he argued that it is necessary to stay open-minded about the price or inflation impacts from the Iran conflict, and monitor inflation performance after those effects subside. Bessent also said an open mind is needed, as the AI boom could boost productivity and deliver disinflationary effects, helping inflation return to the Fed’s target level. He added that he believes Kevin Warsh will choose the optimal path that meets both the Fed’s inflation and growth mandates. Bessent also noted that Warsh previously took a hawkish stance on inflation.
4 hours ago
US stocks' intraday storage sector sees broad declines, with Western Digital and Seagate Technology both falling over 4%.
According to Bitget data, during U.S. stock trading hours, the storage sector saw broad declines: Western Digital (WDC) fell 4.47%, Seagate Technology (STX) dropped 4.17%, SanDisk (SNDK) declined 2.31%, and Micron Technology (MU) edged down 0.96%. Most optical communication concept stocks rose, with Corning (GLW) leading the gains at 9.75%, followed by Ciena (CIEN) up 3.24%, Coherent (COHR) rising 2.93%, Lumentum (LITE) gaining 2.61%, and Nokia (NOK) advancing 1.82%. Additionally, Marvell Technology (MRVL) fell 2.59% and Applied Optoelectronics (AAOI) declined 1.90%.
4 hours ago
During intraday trading in U.S. stocks, crypto-related concept stocks fell broadly, with MSTR dropping more than 7%.
According to Bitget market data, the three major U.S. stock indexes rose broadly: the Dow Jones Industrial Average gained 0.94%, the S&P 500 increased 0.60%, and the Nasdaq rose 0.63%. Crypto-related stocks fell across the board, with declines as follows: Strategy (MSTR) down 7.33%; Circle (CRCL) down 4.35%; Bitmine (BMNR) down 3.97%; Coinbase (COIN) down 3.73%; Robinhood (HOOD) down 3.70%; Gemini (GEMI) down 3.27%; Bullish (BLSH) down 3.25%; Sharplink (SBET) down 3.19%.
George Town, Cayman Islands, 17th February 2026, ChainwireBy Chainwire
Feb 17, 2026
4 min read
Create an account to save your articles.
Add on Google
Add Decrypt as your preferred source to see more of our stories on Google.
George Town, Cayman Islands, February 17th, 2026, Chainwire
Zircuit, a security-first digital asset company backed by YZiLabs, Dragonfly, and Pantera, today announced the launch of Zircuit Finance. Incubated by a team from Quantstamp, Zircuit Finance is a secure platform for institutional-grade strategies, a stablecoin vault designed to generate yield on USDC and USDT, with a stated target range of 8–11% APR, subject to market conditions and variability.
Historically, access to professional asset managers and institutional strategies required significant minimum investments and long lockups. Zircuit Finance removes those barriers with a simplified, cross-chain interface that provides access to institutional-grade yield strategies through a single interface, enabling deposits and withdrawals across multiple chains while supporting diversified exposure.
“The future of DeFi isn’t about chasing the highest yields, it's about building the most secure foundation for capital to grow,” said Dr. Martin Derka, Co-Founder of Zircuit. “Zircuit’s vault is part of a broader shift to create a more stable, transparent, and trusted on-chain economy where users can move large sums of capital efficiently and safely.”
Zircuit Finance vaults allocate a portion of assets to Monarq Asset Management, which manages regulated institutional-grade arbitrage and delta-neutral strategies. Monarq has a proven track record managing the Monarq Digital Asset Opportunities Fund, and the team includes professionals from Tower Research, LedgerPrime, BlockTower, UBS, and Bank of America.
Zircuit Finance also integrates Fidelity’s tokenized money market fund, Aave, and Morpho for diversified exposure across both regulated and decentralized venues.
Complementing this institutional framework, Zircuit Finance is partnering with Forteus, an FCA-regulated asset management division of the Numeus Group, which is headquartered in Zug, Switzerland, with offices in London and New York. The partnership develops digital asset investment portfolios focused on generating risk adjusted returns on Ethereum and Bitcoin, leveraging Forteus’ investment strategies and institutional risk management capabilities.
Zircuit Finance will also integrate with FalconX as its prime broker and infrastructure provider, enabling institutional-grade execution, custody, and risk management. FalconX, a digital assets prime brokerage, provides a globally recognized institutional platform trusted by leading hedge funds and asset managers. Its infrastructure supports efficient capital deployment and compliance-aligned operations across multiple venues.
The core features of Zircuit Finance include:
Targeting 8–11% APR on USDC and USDT, with multi-chain deposits and withdrawals. The vault maintains a portion of capital for fast withdrawals (often within 24 hours for smaller requests) while deploying the rest to generate yield. Larger requests may take up to 14 days as capital is being withdrawn from deployed strategies. Cross-chain messaging infrastructure provided by LayerZero technology. This architecture enables secure, omnichain access to vaults and partner strategies across multiple chains, all from a single interface. "As liquidity flows into DeFi at scale, the platforms that will lead are those delivering both performance and safety while bringing institutional-grade strategies accessible on-chain. Our collaboration with Zircuit Finance reflects Monarq’s commitment to powering that next phase of growth, anchored in deep liquidity, disciplined risk, and operational transparency," said Shiliang Tang, Managing Partner of Monarq Asset Management.
Zircuit Finance is built by cybersecurity veterans who secured more than $200 billion in assets and conducted over 1,100 audits. The team behind Zircuit Finance brings unmatched security expertise to DeFi, with $3 billion in TVL previously staked through the Zircuit Staking program.
Zircuit Finance is now open for deposits. Additional information on depositing USDC and USDT is available at finance.zircuit.com.
ABOUT ZIRCUIT
Zircuit is a security-first digital asset company founded in 2022 by experts from Quantstamp. Zircuit builds secure onchain products designed to help users deploy capital safely and efficiently. Backed by deep cybersecurity expertise, the team has secured over $200 billion in assets and conducted more than 1,100 audits. Zircuit Finance is the company’s institutional-grade platform offering yield on stablecoins and major digital assets.
Users can visit zircuit.com and follow @Zircuit on X.
Disclosure: Zircuit Finance vaults are not bank accounts or insured deposits. Yields are variable and not guaranteed. Participation may be subject to digital asset risk, including smart contract and market volatility. Users should conduct their own due diligence before investing. Past performance is not indicative of future results.
ContactHead of Communications
Jennifer Zheng
Zircuit [email protected]
Disclaimer: Press release sponsored by our commercial partners.
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
George Town, Cayman Islands, February 17th, 2026, Chainwire
Zircuit, a security-first digital asset company backed by YZiLabs, Dragonfly, and Pantera, today announced the launch of Zircuit Finance. Incubated by a team from Quantstamp, Zircuit Finance is a secure platform for institutional-grade strategies, a stablecoin vault designed to generate yield on USDC and USDT, with a stated target range of 8–11% APR, subject to market conditions and variability.
Historically, access to professional asset managers and institutional strategies required significant minimum investments and long lockups. Zircuit Finance removes those barriers with a simplified, cross-chain interface that provides access to institutional-grade yield strategies through a single interface, enabling deposits and withdrawals across multiple chains while supporting diversified exposure.
“The future of DeFi isn’t about chasing the highest yields, it’s about building the most secure foundation for capital to grow,” said Dr. Martin Derka, Co-Founder of Zircuit. “Zircuit’s vault is part of a broader shift to create a more stable, transparent, and trusted on-chain economy where users can move large sums of capital efficiently and safely.”
Zircuit Finance vaults allocate a portion of assets to Monarq Asset Management, which manages regulated institutional-grade arbitrage and delta-neutral strategies. Monarq has a proven track record managing the Monarq Digital Asset Opportunities Fund, and the team includes professionals from Tower Research, LedgerPrime, BlockTower, UBS, and Bank of America.
Zircuit Finance also integrates Fidelity’s tokenized money market fund, Aave, and Morpho for diversified exposure across both regulated and decentralized venues.
Complementing this institutional framework, Zircuit Finance is partnering with Forteus, an FCA-regulated asset management division of the Numeus Group, which is headquartered in Zug, Switzerland, with offices in London and New York. The partnership develops digital asset investment portfolios focused on generating risk adjusted returns on Ethereum and Bitcoin, leveraging Forteus’ investment strategies and institutional risk management capabilities.
Zircuit Finance will also integrate with FalconX as its prime broker and infrastructure provider, enabling institutional-grade execution, custody, and risk management. FalconX, a digital assets prime brokerage, provides a globally recognized institutional platform trusted by leading hedge funds and asset managers. Its infrastructure supports efficient capital deployment and compliance-aligned operations across multiple venues.
The core features of Zircuit Finance include:
Targeting 8–11% APR on USDC and USDT, with multi-chain deposits and withdrawals. The vault maintains a portion of capital for fast withdrawals (often within 24 hours for smaller requests) while deploying the rest to generate yield. Larger requests may take up to 14 days as capital is being withdrawn from deployed strategies. Cross-chain messaging infrastructure provided by LayerZero technology. This architecture enables secure, omnichain access to vaults and partner strategies across multiple chains, all from a single interface. “As liquidity flows into DeFi at scale, the platforms that will lead are those delivering both performance and safety while bringing institutional-grade strategies accessible on-chain. Our collaboration with Zircuit Finance reflects Monarq’s commitment to powering that next phase of growth, anchored in deep liquidity, disciplined risk, and operational transparency,” said Shiliang Tang, Managing Partner of Monarq Asset Management.
Zircuit Finance is built by cybersecurity veterans who secured more than $200 billion in assets and conducted over 1,100 audits. The team behind Zircuit Finance brings unmatched security expertise to DeFi, with $3 billion in TVL previously staked through the Zircuit Staking program.
Zircuit Finance is now open for deposits. Additional information on depositing USDC and USDT is available at finance.zircuit.com.
ABOUT ZIRCUIT
Zircuit is a security-first digital asset company founded in 2022 by experts from Quantstamp. Zircuit builds secure onchain products designed to help users deploy capital safely and efficiently. Backed by deep cybersecurity expertise, the team has secured over $200 billion in assets and conducted more than 1,100 audits. Zircuit Finance is the company’s institutional-grade platform offering yield on stablecoins and major digital assets.
Users can visit zircuit.com and follow @Zircuit on X.
Disclosure: Zircuit Finance vaults are not bank accounts or insured deposits. Yields are variable and not guaranteed. Participation may be subject to digital asset risk, including smart contract and market volatility. Users should conduct their own due diligence before investing. Past performance is not indicative of future results.
Contact Head of Communications
Jennifer Zheng
Zircuit [email protected]
Zircuit, a security-first digital asset company backed by YZiLabs, Dragonfly and Pantera, today announced the launch of Zircuit Finance. Incubated by a team from Quantstamp, Zircuit Finance is a secure platform for institutional-grade strategies, a stablecoin vault designed to generate yield on USDC and USDT, with a stated target range of 8-11% APR, subject to market conditions and variability.
Historically, access to professional asset managers and institutional strategies required significant minimum investments and long lockups.
Zircuit Finance removes those barriers with a simplified, cross-chain interface that provides access to institutional-grade yield strategies through a single interface, enabling deposits and withdrawals across multiple chains while supporting diversified exposure.
Dr. Martin Derka, co-founder of Zircuit, said,
“The future of DeFi isn’t about chasing the highest yields – it’s about building the most secure foundation for capital to grow.
“Zircuit’s vault is part of a broader shift to create a more stable, transparent and trusted on-chain economy where users can move large sums of capital efficiently and safely.”
Zircuit Finance vaults allocate a portion of assets to Monarq Asset Management, which manages regulated institutional-grade arbitrage and delta-neutral strategies.
Monarq has a proven track record managing the Monarq Digital Asset Opportunities Fund, and the team includes professionals from Tower Research, LedgerPrime, BlockTower, UBS and Bank of America.
Zircuit Finance also integrates Fidelity’s tokenized money market fund, Aave, and Morpho for diversified exposure across both regulated and decentralized venues.
Complementing this institutional framework, Zircuit Finance is partnering with Forteus, an FCA-regulated asset management division of the Numeus Group, which is headquartered in Zug, Switzerland, with offices in London and New York.
The partnership develops digital asset investment portfolios focused on generating risk adjusted returns on Ethereum and Bitcoin, leveraging Forteus’ investment strategies and institutional risk management capabilities.
Zircuit Finance will also integrate with FalconX as its prime broker and infrastructure provider, enabling institutional-grade execution, custody and risk management.
FalconX, a digital assets prime brokerage, provides a globally recognized institutional platform trusted by leading hedge funds and asset managers.
Its infrastructure supports efficient capital deployment and compliance-aligned operations across multiple venues.
The core features of Zircuit Finance include the following.
Targeting 8-11% APR on USDC and USDT, with multi-chain deposits and withdrawals. The vault maintains a portion of capital for fast withdrawals – often within 24 hours for smaller requests – while deploying the rest to generate yield. Larger requests may take up to 14 days as capital is being withdrawn from deployed strategies. Cross-chain messaging infrastructure provided by LayerZero technology. This architecture enables secure, omnichain access to vaults and partner strategies across multiple chains, all from a single interface. Shiliang Tang, managing partner of Monarq Asset Management, said,
“As liquidity flows into DeFi at scale, the platforms that will lead are those delivering both performance and safety while bringing institutional-grade strategies accessible on-chain.
“Our collaboration with Zircuit Finance reflects Monarq’s commitment to powering that next phase of growth, anchored in deep liquidity, disciplined risk and operational transparency.”
Zircuit Finance is built by cybersecurity veterans who secured more than $200 billion in assets and conducted over 1,100 audits.
The team behind Zircuit Finance brings unmatched security expertise to DeFi, with $3 billion in TVL (total value locked) previously staked through the Zircuit staking program.
Zircuit Finance is now open for deposits. Additional information on depositing USDC and USDT is available here.
About Zircuit Zircuit is a security-first digital asset company founded in 2022 by experts from Quantstamp.
Zircuit builds secure onchain products designed to help users deploy capital safely and efficiently.
Backed by deep cybersecurity expertise, the team has secured over $200 billion in assets and conducted more than 1,100 audits.
Zircuit Finance is the company’s institutional-grade platform offering yield on stablecoins and major digital assets.
Users can visit zircuit.com and follow @Zircuit on X.
Disclosure Zircuit Finance vaults are not bank accounts or insured deposits. Yields are variable and not guaranteed.
Participation may be subject to digital asset risk, including smart contract and market volatility.
Users should conduct their own due diligence before investing. Past performance is not indicative of future results.
Contact Jennifer Zheng, head of communications for Zircuit
George Town, Cayman Islands, February 17th, 2026, Chainwire
Zircuit, a security-first digital asset company backed by YZiLabs, Dragonfly, and Pantera, today announced the launch of Zircuit Finance. Incubated by a team from Quantstamp, Zircuit Finance is a secure platform for institutional-grade strategies, a stablecoin vault designed to generate yield on USDC and USDT, with a stated target range of 8–11% APR, subject to market conditions and variability.
Historically, access to professional asset managers and institutional strategies required significant minimum investments and long lockups. Zircuit Finance removes those barriers with a simplified, cross-chain interface that provides access to institutional-grade yield strategies through a single interface, enabling deposits and withdrawals across multiple chains while supporting diversified exposure.
“The future of DeFi isn’t about chasing the highest yields, it’s about building the most secure foundation for capital to grow,” said Dr. Martin Derka, Co-Founder of Zircuit. “Zircuit’s vault is part of a broader shift to create a more stable, transparent, and trusted on-chain economy where users can move large sums of capital efficiently and safely.”
Zircuit Finance vaults allocate a portion of assets to Monarq Asset Management, which manages regulated institutional-grade arbitrage and delta-neutral strategies. Monarq has a proven track record managing the Monarq Digital Asset Opportunities Fund, and the team includes professionals from Tower Research, LedgerPrime, BlockTower, UBS, and Bank of America.
Zircuit Finance also integrates Fidelity’s tokenized money market fund, Aave, and Morpho for diversified exposure across both regulated and decentralized venues.
Complementing this institutional framework, Zircuit Finance is partnering with Forteus, an FCA-regulated asset management division of the Numeus Group, which is headquartered in Zug, Switzerland, with offices in London and New York. The partnership develops digital asset investment portfolios focused on generating risk adjusted returns on Ethereum and Bitcoin, leveraging Forteus’ investment strategies and institutional risk management capabilities.
Zircuit Finance will also integrate with FalconX as its prime broker and infrastructure provider, enabling institutional-grade execution, custody, and risk management. FalconX, a digital assets prime brokerage, provides a globally recognized institutional platform trusted by leading hedge funds and asset managers. Its infrastructure supports efficient capital deployment and compliance-aligned operations across multiple venues.
The core features of Zircuit Finance include:
Targeting 8–11% APR on USDC and USDT, with multi-chain deposits and withdrawals. The vault maintains a portion of capital for fast withdrawals (often within 24 hours for smaller requests) while deploying the rest to generate yield. Larger requests may take up to 14 days as capital is being withdrawn from deployed strategies. Cross-chain messaging infrastructure provided by LayerZero technology. This architecture enables secure, omnichain access to vaults and partner strategies across multiple chains, all from a single interface. “As liquidity flows into DeFi at scale, the platforms that will lead are those delivering both performance and safety while bringing institutional-grade strategies accessible on-chain. Our collaboration with Zircuit Finance reflects Monarq’s commitment to powering that next phase of growth, anchored in deep liquidity, disciplined risk, and operational transparency,” said Shiliang Tang, Managing Partner of Monarq Asset Management.
Zircuit Finance is built by cybersecurity veterans who secured more than $200 billion in assets and conducted over 1,100 audits. The team behind Zircuit Finance brings unmatched security expertise to DeFi, with $3 billion in TVL previously staked through the Zircuit Staking program.
Zircuit Finance is now open for deposits. Additional information on depositing USDC and USDT is available at finance.zircuit.com.
ABOUT ZIRCUIT
Zircuit is a security-first digital asset company founded in 2022 by experts from Quantstamp. Zircuit builds secure onchain products designed to help users deploy capital safely and efficiently. Backed by deep cybersecurity expertise, the team has secured over $200 billion in assets and conducted more than 1,100 audits. Zircuit Finance is the company’s institutional-grade platform offering yield on stablecoins and major digital assets.
Users can visit zircuit.com and follow @Zircuit on X.
Disclosure: Zircuit Finance vaults are not bank accounts or insured deposits. Yields are variable and not guaranteed. Participation may be subject to digital asset risk, including smart contract and market volatility. Users should conduct their own due diligence before investing. Past performance is not indicative of future results.
ContactHead of Communications
Jennifer Zheng
Zircuit [email protected]
This article is not intended as financial advice. Educational purposes only.
AUTHOR
Chainwire is The Leading Blockchain and Crypto Newswire and Press Release Distribution Service That Maximize Crypto News Coverage.
[PRESS RELEASE – George Town, Cayman Islands, February 17th, 2026]
Zircuit, a security-first digital asset company backed by YZiLabs, Dragonfly, and Pantera, today announced the launch of Zircuit Finance. Incubated by a team from Quantstamp, Zircuit Finance is a secure platform for institutional-grade strategies, a stablecoin vault designed to generate yield on USDC and USDT, with a stated target range of 8–11% APR, subject to market conditions and variability.
Historically, access to professional asset managers and institutional strategies required significant minimum investments and long lockups. Zircuit Finance removes those barriers with a simplified, cross-chain interface that provides access to institutional-grade yield strategies through a single interface, enabling deposits and withdrawals across multiple chains while supporting diversified exposure.
“The future of DeFi isn’t about chasing the highest yields, it’s about building the most secure foundation for capital to grow,” said Dr. Martin Derka, Co-Founder of Zircuit. “Zircuit’s vault is part of a broader shift to create a more stable, transparent, and trusted on-chain economy where users can move large sums of capital efficiently and safely.”
Zircuit Finance vaults allocate a portion of assets to Monarq Asset Management, which manages regulated institutional-grade arbitrage and delta-neutral strategies. Monarq has a proven track record managing the Monarq Digital Asset Opportunities Fund, and the team includes professionals from Tower Research, LedgerPrime, BlockTower, UBS, and Bank of America.
Zircuit Finance also integrates Fidelity’s tokenized money market fund, Aave, and Morpho for diversified exposure across both regulated and decentralized venues.
Complementing this institutional framework, Zircuit Finance is partnering with Forteus, an FCA-regulated asset management division of the Numeus Group, which is headquartered in Zug, Switzerland, with offices in London and New York. The partnership develops digital asset investment portfolios focused on generating risk adjusted returns on Ethereum and Bitcoin, leveraging Forteus’ investment strategies and institutional risk management capabilities.
Zircuit Finance will also integrate with FalconX as its prime broker and infrastructure provider, enabling institutional-grade execution, custody, and risk management. FalconX, a digital assets prime brokerage, provides a globally recognized institutional platform trusted by leading hedge funds and asset managers. Its infrastructure supports efficient capital deployment and compliance-aligned operations across multiple venues.
The core features of Zircuit Finance include:
Targeting 8–11% APR on USDC and USDT, with multi-chain deposits and withdrawals. The vault maintains a portion of capital for fast withdrawals (often within 24 hours for smaller requests) while deploying the rest to generate yield. Larger requests may take up to 14 days as capital is being withdrawn from deployed strategies. Cross-chain messaging infrastructure provided by LayerZero technology. This architecture enables secure, omnichain access to vaults and partner strategies across multiple chains, all from a single interface. “As liquidity flows into DeFi at scale, the platforms that will lead are those delivering both performance and safety while bringing institutional-grade strategies accessible on-chain. Our collaboration with Zircuit Finance reflects Monarq’s commitment to powering that next phase of growth, anchored in deep liquidity, disciplined risk, and operational transparency,” said Shiliang Tang, Managing Partner of Monarq Asset Management.
Zircuit Finance is built by cybersecurity veterans who secured more than $200 billion in assets and conducted over 1,100 audits. The team behind Zircuit Finance brings unmatched security expertise to DeFi, with $3 billion in TVL previously staked through the Zircuit Staking program.
Zircuit Finance is now open for deposits. Additional information on depositing USDC and USDT is available at finance.zircuit.com.
ABOUT ZIRCUIT
Zircuit is a security-first digital asset company founded in 2022 by experts from Quantstamp. Zircuit builds secure onchain products designed to help users deploy capital safely and efficiently. Backed by deep cybersecurity expertise, the team has secured over $200 billion in assets and conducted more than 1,100 audits. Zircuit Finance is the company’s institutional-grade platform offering yield on stablecoins and major digital assets.
Users can visit zircuit.com and follow @Zircuit on X.
Disclosure: Zircuit Finance vaults are not bank accounts or insured deposits. Yields are variable and not guaranteed. Participation may be subject to digital asset risk, including smart contract and market volatility. Users should conduct their own due diligence before investing. Past performance is not indicative of future results.
If you have Renzo assets sitting on Zircuit, the clock is ticking. Renzo Protocol issued a reminder on June 10 telling users to bridge their ezETH holdings from the Zircuit zkEVM rollup back to Ethereum mainnet before June 20, when the bridge route gets permanently shut down.
That’s a roughly 10-day window. Not exactly generous, though the protocol did first flag the change back on May 19. Anyone who missed that earlier heads-up now has less than a week to act before losing the ability to bridge entirely.
What’s actually happening Renzo, the liquid restaking protocol built on EigenLayer, is pruning its cross-chain footprint. Zircuit isn’t the only network getting trimmed.
The May 19 announcement also designated several other platforms, including Blast, Swell, Taiko, Berachain, and Sei, as “exit only.” In English: you can still pull your assets off those chains, but you can no longer bridge new assets onto them through Renzo.
Advertisement
Zircuit’s situation is more severe. It’s not getting the “exit only” treatment. It’s getting full deprecation. After June 20, the bridge route ceases to exist entirely.
For context, ezETH is Renzo’s primary liquid restaking token. It lets holders compound their staking rewards while maintaining liquidity, which is the whole value proposition of liquid restaking. Having that token stranded on a chain with no bridge back to Ethereum mainnet would be, to put it mildly, suboptimal.
The broader context Renzo was actually an early partner of Zircuit, helping deploy staking and deposit services when the rollup launched its mainnet phase 1 back in August 2024.
This isn’t an isolated infrastructure change for Renzo either. On June 1, the protocol migrated its reserve vault strategy from Superstate to a Bitwise-managed USCC fund. That’s a meaningful shift in how Renzo manages its treasury and reserve operations, suggesting the team is actively restructuring multiple layers of its operational stack simultaneously.
What this means for investors The immediate concern is practical. If you hold ezETH on Zircuit, bridge it before June 20. Full stop. There’s no ambiguity here, and waiting until the last day is inviting unnecessary risk from network congestion or bridge delays.
For ezETH holders on the chains designated as “exit only,” including Blast, Swell, Taiko, Berachain, and Sei, the situation is less urgent but still worth monitoring. “Exit only” today could become full deprecation tomorrow if usage doesn’t recover. The Zircuit timeline shows Renzo is willing to escalate these decisions.
The lack of notable price disruption or market volatility around this announcement suggests the affected user base on Zircuit may be relatively small.
The vault strategy migration to Bitwise-managed USCC adds another dimension worth watching. Renzo is simultaneously restructuring how it earns yield on reserves and where it maintains bridge infrastructure.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
PANews, June 23 – According to the official Lido blog, Lido DAO has voted via Snapshot to revoke the “canonical” bridging endpoint designation for wstETH on nine networks: zkSync Era, Mode, Scroll, Mantle, Swell, Zircuit, Soneium, Polygon PoS, and Lisk. This move represents a resource reallocation at the governance level and does not affect the technical operation of the relevant bridges and contracts. Users can still hold, transfer, or bridge wstETH back to Ethereum on the above networks as normal. Lido will discontinue security monitoring and ecosystem and market support for these networks but will not set a migration deadline.
Binance to list Thena for trading. THE has surged by 543.10% following Binance’s announcement. Over the past 24 hours, Thena [THE] has seen a massive boost following Binance’s announcement. Over this period, Binance announced it would list THE token. This news has triggered a massive market excitement among trades, as many anticipate increased liquidity and overall market exposure.
According to Binance, the crypto exchange will start trading for multiple pairs such as THE/BTC, THE/BNB, and THE/USDT. Binance will list THE on the 27th of November at 10:00 (UTC) and open trading with the pairs mentioned above.
This is a significant milestone for the altcoin as the listing positions it for wider adoption and higher liquidity, which is central to growth.
Impact on THE’s price charts? As expected, this upcoming listing has had a massive impact on THE’s price charts. In fact, following the listing, THE has soared by 543.10% and was trading at $1.35, at press time.
Also, the altcoin’s market cap has surged by 954.58% to $103.68 million over the past day. This upsurge has also seen its trading volume surge by a record, 36674.80% to $56.19 million following the listing.
Source: TradingVIew Since hitting a low of $0.20, THE has surged to a high of $1.5. This upsurge was driven by increased demand as many investors purchased the altcoin.
The total number of holders has surged to 20.03k, according to Token Terminal.
Source: TradingView Additionally, we can see this demand through increased buying pressure. THE’s Relative Strength Index (RSI) has surged to a record high of 96.31, suggesting that buyers are in total control.
This dominance has pushed the altcoin to strong upward momentum, evidenced by a rising DMI that has hit 64.15.
Source: Market Prophit Finally, Thena is experiencing strong positive sentiment as suggested by Market Prophit. Crowd sentiment was at 0.213 with a Buzz score of 0.9419. This shows that investors are highly bullish and anticipate prices to rise with the listing.
Simply put, Binance listing positions Thena to greater liquidity as it tends to attract more investors, which further drives prices up.
As such, with the listing and increased demand, THE could make more gains on price charts. Thus, with the newfound interest, THE could attempt a $1.6 resistance level.
Thena price surged by over 1800% in the last week after listing on Binance HODLer airdrop. The RSI value of 98 demonstrates an overvalued condition of thena tokens. Thena price is going sky high with its recent listing on Binance’s HODLer airdrops. THE token is trading above the $3.5 price level with more than 1800% weekly price rise. While the market cap is hovering around $277 million, 24-hour trading volume has already crossed $2.31 billion dollars.
Thena is not a meme coin and it is also not the new token in the market. However, all this buzz around its incredible price surge is due to THE token listing on Binance exchange. Will the price rally of Thena continue? Or, is Thena price surge just another pump waiting for a correction?
Source: CoinMarketCap
Binance Listing Lead to Thena Price Surge Crypto exchange platform Binance announced that it was going to list Thena’s THE tokens on Binance HODLer airdrops around a couple of days ago. The announcement caused a sharp price surge in Thena price, going up from $0.2 to around $1.2. Being one of the top exchange platforms with users across the world, Binance’s announcement increased investor sentiment.
Keeping the Binance listing aside, the token has been trading sideways for a while now. This could also mean Thena price breakout after a long period of accumulation phase. It makes you wonder if the price breakout coincided with the Binance listing.
Is Thena Price Surge Just Another Pump? Thena, a DEX and a layer2 network on BNB Chain, witnessed a substantial price rise from the bottom of $0.2 to a peak of near $4, within just a couple of days. However, the fact that Thena still continues its upward movement is noteworthy. It reflects the strong investor sentiment within the community.
Source: TradingView
The RSI indicator on the TradingView chart of Thena/Tether shows 98.70. The RSI value above 70 indicates that the particular asset is overvalued or overbought. This implies Thena is due price correction and the token is currently overvalued by the investors.
Surprisingly, the Thena token price still continues its upward price trend. It seems like it is only a matter of time for the token to witness a price correction. The price surge purely caused by Binance listing is a major reason why it might just be a pump.
However, Thena can continue this price rally in case other crypto exchanges list the token. Any major developments to the Thena DEX can also increase positive market sentiment to continue this uptrend.
Highlighted Crypto News Today:
Why Did XT Exchange Cease Withdrawals Abruptly?
Manisha is a proficient content writer with a keen eye for blockchain, NFTs, and fintech trends. With a passion for breaking down complex topics, she delivers insightful and engaging content for the Web3 community. Her expertise spans emerging market trends, latest news, and industry developments.
Binance Labs, the venture capital arm of Binance, has announced its latest investment in Thena, a decentralized exchange (DEX) and liquidity protocol operating on the BNB Chain.
Let’s break down what Thena is, its unique features...
What Is Thena?Launched in January 2023, Thena is a relatively new entrant in the DeFi space. Despite its young age, it has quickly gained traction among users, thanks to its unique ve(3,3) tokenomics model. This approach optimizes liquidity and incentivizes participation, setting Thena apart from other decentralized exchanges.
The platform aims to become the "SuperApp" of DeFi by offering a comprehensive suite of products that cater to a wide range of user needs. Here’s an overview of its core features:
THENA: A spot DEX for swapping digital assets, earning passive income, and trading.ALPHA: A perpetual DEX with leveraged trading on over 270 crypto pairs.ARENA: A gamified social trading platform for competitions and growth tools.WARP: An upcoming launchpad for new projects.Why Binance Labs Chose ThenaThe decision to invest in Thena stems from its innovative approach to liquidity management and user-centric design. Alex Odagiu, Investment Director at Binance Labs, described Thena as a key player in the next wave of DeFi growth. He praised the platform's focus on creating a seamless user experience and its ability to attract a diverse user base.
Thena’s unique model allows it to meet various liquidity needs, including stablecoins, tokenized real-world assets (RWAs), and emerging asset classes like AI tokens. This flexibility makes it a valuable partner for DeFi protocols looking to enhance their liquidity.
The ve(3,3) TokenomicsAt the heart of Thena’s success is its ve(3,3) tokenomics model, which incentivizes long-term participation and liquidity provision. Key aspects include:
Governance via veTHE: Users can lock their $THE tokens for up to two years to receive veTHE, an ERC-721 governance token. This gives them voting power and access to platform-generated revenue.Revenue Sharing: veTHE holders earn 90% of the platform's trading fees and 10% of the voting incentives deposited by protocols.Flexibility: veTHE tokens can be increased, split, or sold on secondary markets, ensuring liquidity and engagement.This model creates a positive feedback loop that benefits all stakeholders, from liquidity providers and traders to DeFi protocols.
Thena’s Vision: The "SuperApp" of DeFiThena envisions itself as a decentralized alternative to centralized exchanges (CEXs), offering a robust yet user-friendly ecosystem. Its vision is anchored on mass user onboarding and a CEX-grade experience. According to the Thena team, the key features include:
Wallet Abstraction: Simplifies the onboarding process.Fiat On/Off Ramp: Eases the transition between traditional finance and DeFi.Cross-Chain Bridges: Enables seamless asset transfers across blockchains.Self-Custodial Services: Offers staking for major assets like BTC, ETH, and BNB.Permissionless Competitions: Monetizes trading activities in a gamified format.These features aim to make DeFi accessible to both beginners and seasoned users.
Ecosystem Growth and Community EngagementThena has committed a significant portion of its token supply to initiatives that drive ecosystem growth and community participation:
Airdrops: Distributed 44% of its initial supply to users, protocols, and NFT minters.Ecosystem Grants: Allocated 25% of the supply to support innovative projects.Team Alignment: 18% of tokens were distributed to the team, ensuring long-term commitment.
Alpha Launch that is poised to revolutionize the way tokens and memecoins are offered to the market. The top-performing memecoin launchpad, GraFun, is committed to facilitating cross-chain, safe, and easy token creation. In partnership with industry titans Floki and DeXe, GraFun, a leading memecoin launchpad on EVM, has unveiled an innovative token launch mechanism dubbed Alpha Launch that is poised to revolutionize the way tokens and memecoins are offered to the market. This innovative feature, which is backed by BNB Chain and Thena, provides a flexible, secure, and effective launch approach while resolving major issues encountered by token creators.
The top-performing memecoin launchpad, GraFun, is committed to facilitating cross-chain, safe, and easy token creation. GraFun, which has a history of quick expansion and innovation, enables anyone to launch and trade memetokens on several chains within Telegram Messenger.
Redefining Token Launches Alpha Launch tackles a number of important market concerns:
Direct DEX Launch: Creators with existing liquidity may deploy on DEXs directly thanks to Alpha Launch, which avoids internal trading models as traditional bonding curves do. This simplified strategy guarantees quicker and easier launches. Advanced Airdrop Capabilities: Multi-tier distributions with customizable lists, schedules, and allocation criteria are among the adaptable airdrops that creators may carry out to suit their demands. This enables them to run presales, encourage adoption, and provide incentives to communities. Anti-Sniping Protection: Alpha Launch has anti-sniping features to safeguard liquidity pools, which are powered by DeXe’s sophisticated algorithms. The mechanism prevents bots from depleting liquidity and protects the community’s fair trading conditions by examining bot activity in the first blocks. Locked Liquidity: To maintain transparency and confidence and avoid rug pulls, post-launch liquidity is safely secured in the FlokiFi Locker. Collaboration of Industry Leaders This innovative launch mechanism is evidence of GraFun, Floki, and DeXe’s cooperation. With BNB Chain’s assistance, each partner adds state-of-the-art solutions to the platform. Furthermore, Thena, a promising and quickly expanding DEX, has been included into the Alpha Launch. With the ability to deploy liquidity on both platforms at the same time and guarantee parallel anti-sniping protection, it enables creators to launch their tokens on PancakeSwap and Thena. It gives creators more security and flexibility when launching their tokens.
A First Major Case: BAD Coin Alpha Launch’s first use case has already been revealed: BAD Coin, the first primary AI-agent token on the BNB Chain and a revolutionary memecoin. BAD Coin will make full use of all Alpha Launch features, such as airdrops, anti-sniping protection, liquidity locking, and simultaneous liquidity deployment on PancakeSwap and Thena, with support from GraFun, Floki, DeXe, Thena, and BNB Chain.
The token launch on GraFun is set for January 20, 2025, and the presale for BAD Coin was successfully completed on TokenFi. The most active on-chain contributors on GraFun will be rewarded for their support and engagement with an exclusive airdrop in honor of this milestone.
Exclusively on BNB Chain GraFun’s dedication to fostering innovation and providing creators with top-notch tools is demonstrated by Alpha Launch and its first significant case, BAD Coin. Alpha Launch is poised to revolutionize the token launch landscape with the backing of BNB Chain and important industry partners. As GraFun continues to lead token innovation, stay tuned for more updates.
A diploma graduate who is passionate about digital currency and loves writing. He loves the concept of crypto and keeps himself up to date with the latest development and news of the crypto world.
[PRESS RELEASE – Transylvania, Romania, January 9th, 2025]
GraFun, a leading memecoin launchpad on EVM, in collaboration with industry giants Floki and DeXe, has introduced an innovative token launch mechanism called Alpha Launch, set to redefine how tokens and memecoins are launched on the market. Supported by BNB Chain and Thena, this groundbreaking feature resolves key challenges faced by token creators and offers a flexible, secure, and efficient launch strategy.
Redefining Token Launches
Alpha Launch addresses several core market issues:
Direct DEX Launch: Unlike traditional bonding curves, Alpha Launch bypasses internal trading models, enabling creators with existing liquidity to deploy on DEXs directly. This streamlined approach ensures faster and simpler launches Advanced Airdrop Capabilities: Creators can execute flexible airdrops tailored to their needs, including multi-tier distributions with customizable lists, schedules, and allocation parameters. This allows them to incentivize communities, conduct presales, and drive adoption Anti-Sniping Protection: Powered by DeXe’s advanced algorithms, Alpha Launch includes anti-sniping mechanisms to protect liquidity pools. By analyzing bot behavior in the first blocks, the system prevents bots from draining liquidity and safeguards fair trading conditions for the community Locked Liquidity: Post-launch liquidity is securely locked in the FlokiFi Locker, ensuring trust and transparency while preventing rug pulls. Collaboration of Industry Leaders
This pioneering launch mechanic is a testament to the collaboration between GraFun, Floki, and DeXe. Each partner contributes cutting-edge solutions to the platform, complemented by the support of BNB Chain. Additionally, Thena, a rapidly growing and promising DEX, has been integrated into the Alpha Launch. It allows creators to launch their tokens on Thena and PancakeSwap, with the option of deploying liquidity simultaneously on both platforms and ensuring parallel anti-sniping protection. It provides creators with enhanced flexibility and security for their token launches.
A First Major Case: BAD Coin
The first use case for Alpha Launch has already been announced: BAD Coin, a groundbreaking memecoin and the first primary AI-agent token on the BNB Chain. Supported by GraFun, Floki, DeXe, Thena, and BNB Chain, BAD Coin will fully utilize all Alpha Launch features, including airdrops, anti-sniping protection, liquidity locking, and simultaneous liquidity deployment on PancakeSwap and Thena.
BAD Coin’s presale has been successfully conducted on TokenFi, and the token launch on GraFun is scheduled for January 20, 2025. To celebrate this milestone, GraFun’s most active on-chain contributors will receive an exclusive airdrop to reward their engagement and support.
Exclusively on BNB Chain
Alpha Launch and its first major case, BAD Coin, highlight GraFun’s commitment to driving innovation and supporting creators with best-in-class tools. With the support of BNB Chain and key industry partners, Alpha Launch is set to transform the token launch landscape.
Stay tuned for more updates as GraFun continues to take charge of token innovation.
About GraFun
GraFun is the top-performing memecoin launchpad, dedicated to making token creation accessible, secure, and cross-chain. With a track record of rapid growth and innovation, GraFun empowers anyone to launch and trade memetokens on multiple chains inside Telegram Messenger.
For updates, follow GraFun on X: https://x.com/grafunlabs or visit https://gra.fun/
What is Thena? Launched on January 5, 2023, Thena is a decentralized exchange (DEX) and liquidity layer built on BNB Chain and opBNB. It serves as a community-driven hub for various DeFi activities, designed to make decentralized finance accessible to users of all experience levels.
Thena aims to provide a centralized exchange (CEX)-like experience while maintaining the benefits of decentralization. The platform positions itself as a "SuperApp" for DeFi by combining trading capabilities, liquidity provision tools, and social features in one ecosystem.
As an open liquidity layer, Thena fosters collaboration and innovation within the BNB Chain ecosystem, creating opportunities for both users and protocols to participate in various DeFi activities.
The Thena Ecosystem: Key Features and ComponentsDEX and Liquidity MarketplaceThena's decentralized exchange offers spot trading with low slippage and efficient pricing through its automated market maker (AMM) system. When users enter the platform, they gain access to spot trading with competitive rates, limit swap functionality for more precise trading, and concentrated liquidity pools designed for maximum capital efficiency.
The heart of Thena's ecosystem is its liquidity marketplace, built on the innovative ve(3,3) model. This elegant system combines elements from Curve's vote-escrow system and Olympus's anti-dilution mechanics. Through this model, protocols can actively incentivize liquidity by influencing veTHE holders' votes. This influence in turn dynamically adjusts $THE reward emissions for specific pools.
What sets Thena apart is its integrated ORBS Liquidity Hub, which optimizes transactions by tapping into external liquidity sources. This Hub leverages both onchain solver auctions and decentralized orders via API, and automatically falls back to the AMM if a better price isn't available. The result is enhanced liquidity depth and superior price execution compared to conventional DEXes.
Behind the scenes, the Thena DEX utilizes Algebra Integral to seamlessly integrate concentrated liquidity and dynamic fees. This integration significantly enhances capital efficiency for all participants. The platform's modular design takes flexibility to another level, allowing for granular customization of AMMs through plugins (hooks) that give liquidity providers unprecedented control over their strategies.
Thena's UI abstracts the complexity of the liquidity hub (official docs)ALPHA: Perpetual Trading PlatformThena's ALPHA platform takes trading to the next level, enabling perpetual trading with up to 50x leverage across more than 160 token pairs. Traders who use ALPHA benefit from funding rates that are approximately 4x lower than competitors, making it a cost-effective choice for frequent traders.
What truly sets ALPHA apart is its innovative "Intent-Based" approach. This system connects users directly to third-party liquidity providers, creating a more efficient marketplace. Unlike traditional perpetual platforms, ALPHA sources its liquidity from brokers rather than counterparty pools. This strategic difference allows the platform to access deeper liquidity and avoid the scaling issues that plague other perpetual DEX platforms, especially during periods of high trading volume.
ARENA: SocialFi and Trading CompetitionsARENA transforms the trading experience into a social adventure, serving as a hub for trading competitions within Thena's ecosystem. This feature enables partners to create customizable competitions that bring communities together through gamified trading activities. Users develop their presence with personalized social profiles and unique .thena IDs.
These competitions boost token awareness and deepen liquidity while creating an engaging experience that enhances user retention. With plans to implement copy trading functionality, ARENA will soon allow newer traders to learn directly from experienced market participants.
Cross-Chain Capabilities: Thenafi BridgeThe Thenafi Bridge, powered by Polyhedra Network, connects BNB Chain (L1) and opBNB (L2), facilitating seamless asset transfers across blockchains. This cross-chain functionality expands user flexibility and accessibility across the broader blockchain ecosystem.
As DeFi continues to span multiple chains, the Thenafi Bridge keeps Thena at the forefront of innovation while maintaining the platform's commitment to security and efficiency.
Upcoming Features and ServicesBuilding on its solid foundation, Thena is developing several key features to expand its ecosystem. The team is creating Warp, an IDO launchpad designed to help Web3 startups raise funding while onboarding users to BNB Chain projects.
To bridge traditional finance with DeFi, Thena is implementing fiat on/off ramps alongside debit card integration. Users will soon access self-custodial earn services for staking popular assets like BTC, ETH, BNB, and USDT while maintaining control of their funds.
The planned Web3 banking services further demonstrate Thena's commitment to creating a comprehensive financial ecosystem that will serve both crypto natives and newcomers.
The ve(3,3) Model: Tokenomics and Governance$THE Token Utility and MechanicsThe $THE token is the native utility token that powers the entire Thena ecosystem. It functions as the platform's lifeblood, rewarding liquidity providers through carefully calculated emissions, enabling community members to participate in governance voting for critical platform decisions, and providing revenue-sharing opportunities through various staking mechanisms.
The token launched with an initial supply of 50 million tokens, which were distributed according to a detailed allocation plan. This included airdrops to users and protocols, ecosystem grants, team allocation, and initial liquidity provision. According to current CoinMarketCap data, $THE has grown to a total supply of 246.96M, a maximum supply cap of 326.12M, and a circulating supply of 99.99M tokens.
What truly stands out about Thena's tokenomics is that token emissions aren't rigidly hardcoded like many other protocols. Instead, they're determined through a genuinely decentralized process where community voices matter. With each week a new “epoch” where veTHE holders are allowed to vote on emission allocations, ensuring that the community maintains real control over token distribution and the direction of the platform.
Initial distribution schedule for THE (official docs)veTHE: Vote-Escrow GovernanceThe veTHE system rewards long-term token holders, aligning stakeholder interests with the platform's success. Users lock $THE to receive:
Voting power proportional to lock duration and amountWeekly rebases that reduce dilution effectsAbility to influence gauge weights for pool emissionsProtocols can deposit incentives in the marketplace, and veTHE holders vote on "gauges" to allocate emissions to pools. This creates a system where long-term stakeholders capture fees and bribes while helping direct platform resources.
Vision: Building the DeFi SuperAppModular Liquidity LayerThena aims to become a comprehensive modular liquidity layer catering to diverse market needs, including stablecoins, tokenized real-world assets (RWAs), memecoins, AI tokens, and other emerging digital assets.
The platform focuses on wallet abstraction and user-friendly onboarding processes. This approach aims to rival the user experience found on centralized platforms like Binance, reflecting Thena's core mission: making DeFi accessible without sacrificing decentralization principles.
Community-Driven ApproachFrom its inception, Thena has prioritized community governance. veTHE holders control emissions, ensuring decentralization rather than relying on traditional hardcoded models. The platform encourages active participation through:
Strategic airdrops (50% $THE, 50% veTHE)Governance proposals and votingSocial engagement across multiple channelsStrategic PartnershipsThena has established collaborations with several protocols and organizations to enhance its ecosystem:
Venus Protocol: A soft merger valued at $4.5 million, integrating lending and AI-driven strategiesArbitrum Foundation: Cross-chain expansion effortsP2P.org: Infrastructure and technical supportBNB Chain: Participation in hackathons and community eventsThese partnerships help Thena expand its capabilities while remaining focused on its core strengths.
Security and Technical FoundationAudits and Code Protection
Thena’s codebase, inspired by proven DEX protocols, is fortified by top-tier audits—V1 by PeckShield, V2 by OpenZeppelin, and a recent nod to Hacken per a February 2025 update. On real-time protection, Thena’s stance is less clear: official docs spotlight Lossless’s Aegis system, while a 2025 blog pivots to Hypernative, hinting at either a dual approach or an unconfirmed shift.
Multi-Signer GovernanceTo enhance security, Thena employs a 4/6 signer system:
3 signers from the Thena team3 signers from known entities like Ankr and DEUS FinanceAll transactions require a 12-hour timelock periodThis system provides additional protection against potential security risks while maintaining operational efficiency.
Community and Social EngagementGlobal Community PresenceThena has built an active and engaged community of DeFi enthusiasts from around the world. The platform's official Telegram channel serves as a central hub for announcements and discussions. At the same time, its Discord server has grown to over 17,000 members who actively share trading strategies, technical insights, and feedback on platform developments.
Beyond digital connections, Thena extends its community engagement through regular participation in industry events and hackathons. The team makes its presence known at major gatherings like ETH Denver, where they showcase their technology and connect with potential partners and users. By supporting BNB Chain hackathons and hosting community meet-ups, Thena creates opportunities for face-to-face interactions that strengthen relationships and foster innovation within the ecosystem.
SocialFi IntegrationWhat sets Thena apart from traditional DeFi platforms is its seamless integration of social elements into the financial experience. The platform's innovative SocialFi components, especially ARENA's personalized .thena IDs and dynamic trading competitions, create a unique blend of DeFi functionality with social engagement that keeps users connected and involved.
These social features aren't just for show—they're designed with practical incentives in mind. Key opinion leaders (KOLs) can receive up to 25% of prize pools for community-driven contests, creating a powerful motivation system that encourages broader participation and helps spread awareness of the platform across various communities and networks.
The vibrant community Thena has cultivated doesn't just power its present ecosystem—it actively shapes the platform's evolution. With strong user engagement providing continuous feedback and participation, Thena is well-positioned to advance its roadmap with features that truly meet market needs.
The Road Ahead for ThenaLooking forward, Thena's roadmap focuses on expanding Web3 banking capabilities, supporting real-world asset integration, implementing AI-driven DeFi strategies through partnerships like the one with Venus, and enhancing cross-chain functionality. Each of these initiatives aligns with Thena's vision of creating a comprehensive DeFi ecosystem that serves users across various blockchain networks.
Conclusion: Thena's Role in DeFi EvolutionThena represents a comprehensive approach to decentralized finance on the BNB Chain ecosystem. By combining trading, liquidity provision, social features, and strong community governance, the platform effectively bridges the gap between traditional finance and DeFi.
The platform's focus on user experience, capital efficiency, and protocol incentives positions it as a significant contributor to the BNB Chain ecosystem's growth. As Thena continues developing its features and expanding partnerships, it remains focused on its core mission: onboarding the masses to DeFi through a seamless experience that maintains true decentralization.
Ready to explore Thena? Start by visiting thena.fi and joining the community on X, Discord or Telegram. New users might begin with spot trading before exploring ARENA's social competitions or trying the ALPHA perpetual platform for more advanced trading.
Decentralized lending platform Venus Protocol has reportedly suffered a suspected flash-loan attack on its Core Pool on BNB Chain, leading to losses of more than $3.7 million.
On-chain data shows the attacker manipulated supply caps using the Thena (THE) token, allowing them to borrow multiple assets from the protocol.
How the Venus Protocol Attack Happened?According to blockchain data, the attacker used an address starting with 0x1a35…6231 to exploit the system. The strategy began months earlier, when the attacker slowly accumulated around 84% of the THE supply cap (14.5M tokens) over nine months starting in June 2025.
The real exploit occurred when the attacker bypassed the normal deposit process by directly transferring tokens to the protocol contract.
This allowed them to exceed the supply cap and build a massive 53.2 million THE collateral position, which was nearly 3.7 times the allowed limit.
On-chain data shows Venus Protocol was suspected to suffer a flash-loan attack. The attacker address 0x1a35…6231 obtained about 20 BTC, 1.5 million CAKE, and 200 BNB, totaling over $3.7 million, after using a large amount of THE as collateral on Venus to borrow CAKE, BTCB, and… pic.twitter.com/qnyISI5pp5
— Wu Blockchain (@WuBlockchain) March 15, 2026 Borrowing and Price ManipulationUsing the inflated collateral, the attacker began borrowing large amounts of assets, including:
Around 20 BTC in wrapped BitcoinAbout 1.5 million CAKE tokensNearly 200 BNB1.58 million USDCTo maximize the exploit, the attacker repeatedly followed a loop strategy: deposit THE, borrow assets, buy more THE, and wait for the TWAP oracle price update to increase the collateral valuation.
This pushed the price of THE from around $0.263 to nearly $0.563 before the market eventually collapsed to about $0.22 during liquidation.
Venus Protocol RespondsFollowing the incident, the team behind Venus Protocol announced precautionary measures. Borrowing and withdrawals of THE have been temporarily paused, along with several markets that showed high liquidity concentration, including BCH, LTC, UNI, AAVE, FIL, and TWT.
The protocol confirmed that all other markets remain operational and unaffected while the investigation continues.
The team also stated it will release a detailed report once the full analysis of the exploit is completed.
Story Ends Here
Trust with CoinPedia:CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Venus Protocol, a decentralized lending and borrowing platform, said on Sunday it had detected suspicious trading activity in the liquidity pool for the Thena (THE) token, the native cryptocurrency of the Thena decentralized finance platform.
The unusual trading activity only affected pools for the Cake (CAKE) token, the native cryptocurrency of the PancakeSwap decentralized exchange, and the Thena token, according to an announcement from Venus Protocol. The Venus team said:
“As we continue to investigate the unusual activity in the THE pool, we are taking precautionary action by pausing all THE borrows and withdrawals effective immediately, to prevent any further misuse. This will remain in effect until the investigation is concluded.”Source: Venus Protocol
The suspicious trading activity is believed to be a supply cap attack that was executed in two phases: a steady accumulation of about 84% of the total THE token market cap, coupled with a lending attack, according to Allez Labs, which was identified by Venus Protocol as its risk manager.
The Venus exploiter used the Thena token as collateral to borrow 6.67 million CAKE tokens, 1.58 million USDC (USDC), 2,801 BNB (BNB) — the native token of the BNB Chain — and 20 Bitcoin (BTC), Allez Labs said.
Out of caution, withdrawals and borrowing for other tokens, which have low liquidity on the platform, were also temporarily halted, Allez Labs said. Losses from the attack are estimated at over $3.7 million, according to Wu Blockchain.
At the time of publication, THE was trading at $0.2255, down more than 17% in the last 24 hours, according to pricing data on CoinMarketCap.com.
Source: Allez Labs
Cointelegraph reached out to Venus Protocol but had not received a response by the time of publication.
The incident highlights the cybersecurity and code exploit threats faced by crypto users and decentralized finance platforms, as the sector grows and security threats that cause financial loss become increasingly sophisticated.
Monthly crypto losses from hacks fall in February, as attackers pivot to social engineering scamsThe value lost in crypto-related hacks fell to $49 million in February, the lowest level in nearly a year, according to blockchain security firm PeckShield.
Despite the reduction in total value lost to hacks and code exploits during February, there was an uptick in phishing and social engineering scams.
Most impactful losses from crypto scams and hacks in February 2026. Source: Nominis
“The majority of individual attacks targeted private users through phishing attacks, malicious signatures, and address poisoning scams,” according to a report from blockchain intelligence platform Nominis.
Phishing scams often use fake websites, which feature addresses that are nearly identical to legitimate domain names. These fraudulent websites have malware designed to steal private keys for cryptocurrencies or other sensitive information.
Magazine: ‘SEAL 911’ team of white hats formed to fight crypto hacks in real time
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.
A threat actor bypassed Venus Protocol's supply caps using Thena tokens to borrow multiple assets in what analysts suspect was a flash loan or price manipulation attack on BNB Chain.
Venus Protocol on BNB Chain has been hit with a $3.7 million exploit involving manipulation of the platform's supply cap mechanisms. According to on-chain data, the threat actor used Thena (THE) tokens to bypass maximum supply restrictions and borrow several different digital assets from the protocol.
Analysts suspect the attack leveraged either flash loan tactics or price manipulation to artificially inflate the collateral's value. Following the incident, Venus Protocol suspended borrowing and withdrawal functions for the THE token as a precautionary measure, though other markets on the platform remained unaffected.
Sources: Cointelegraph
This article was generated automatically by The Defiant’s AI news system from publicly available sources.
The attack is one of the more noteworthy decentralised finance security incidents of this year. The overall losses via crypto hacks slipped to $49 million in February, the lowest monthly figure in around a year. On March 15, Venus Protocol revealed that it has found some suspicious trading activity in its liquidity pool for the Thena (THE) token. For clarification, Venus operates as a lending and borrowing platform, and THE is the native token of the Thena DeFi platform.
Venus has appointed Allez Labs as its risk manager, which stated that the incident seems to be a supply cap attack and it unravelled in two phases. The first phase shows that the attacker gradually collected around 84% of the overall Thena token market capitalisation.
The second phase included the attacker using those holdings as collateral to borrow other assets from the platform. The borrowed assets comprised 6.67 million CAKE tokens, 1.58 million USDC, 2,801 BNB, and 20 Bitcoin, as reported by Allez Labs.
The overall value lost in the attack surpassed $3.7 million, revealed by Wu Blockchain. Only the CAKE and THE pools were directly impacted by the exploit.
The Notable Attack Venus Protocol replied by halting all THE borrows and withdrawals quickly. The team mentioned in a statement that this will stay in effect until the investigation is taken to end. As an extra precaution, Allez Labs mentioned Venus also shut withdrawals and borrowing for various other low-liquidity tokens on the platform.
The attack is one of the more noteworthy decentralised finance security incidents of this year. The overall losses via crypto hacks slipped to $49 million in February, the lowest monthly figure in around a year, as per the blockchain security company PeckShield.
That slip in hack-associated losses was, although, accompanied by a surge in phishing and social-engineering attacks aiming at individual users.
Nominis, a blockchain intelligence platform, mentioned that a lot of individual attacks in February comprised phishing websites, malicious signature requests, and address poisoning scams made to steal private keys.
The Venus incident shows a different threat category, one aiming protocol-level mechanics instead of individual user credentials.
Highlighted Crypto News Today:
Playnance Partners With KGeN to Expand Web3 Gaming Distribution Network
A passionate journalist with a strong foundation in content writing and an experience in the crypto industry. With a commitment to self-growth, Sharmistha aims to make a meaningful impact in the media and communications landscape.
TLDR Venus Protocol, a major lending platform on BNB Chain, suffered a loss exceeding $3.7 million due to THE token price manipulation. Hackers utilized a “donation attack” technique to circumvent Venus’s supply limitations by transferring tokens directly to the smart contract. The malicious actors used artificially inflated THE tokens as collateral to withdraw CAKE, USDC, BNB, and Bitcoin. Venus Protocol implemented emergency measures, freezing all THE token borrowing and withdrawal operations during their ongoing investigation; approximately $2.15 million in uncollateralized debt remains. The exploitation method matches a previously identified security weakness in Compound-based lending protocols that Venus’s team had previously downplayed despite audit warnings. On Sunday, Venus Protocol, which operates as the dominant lending service on BNB Chain, became the target of a sophisticated price manipulation scheme focused on THE, the native token of Thena.
🚨 We have identified unusual activity involving the $THE pool and are actively investigating.
At this time, only the $THE and $CAKE markets appear to be affected.
We will share updates as our investigation progresses. We appreciate your patience and support.
— Venus Protocol (@VenusProtocol) March 15, 2026
The malicious actor artificially inflated THE’s market value from approximately $0.27 to nearly $5 by taking advantage of limited on-chain liquidity. Their strategy involved depositing THE tokens as collateral, withdrawing alternative assets, purchasing additional THE with those borrowed funds, and cycling through this process as Venus’s price oracle continuously adjusted to the manipulated market value.
The perpetrator circumvented Venus’s established supply restrictions on THE through a donation attack methodology. This involved sending THE tokens directly into the vTHE smart contract rather than using standard deposit mechanisms. The technique artificially elevated the exchange rate recognized by the protocol’s system, effectively nullifying the supply cap controls.
Leveraging the artificially valued THE as backing, the exploiter withdrew 6.67 million CAKE tokens, 1.58 million USDC, 2,801 BNB, and 20 Bitcoin from the protocol.
Total damages from the incident exceed $3.7 million, as reported by Wu Blockchain. Independent blockchain researcher EmberCN calculated the outstanding bad debt at approximately $2.15 million, consisting of 1.18 million CAKE tokens and 1.84 million THE tokens.
The wallet address responsible for the attack received its initial funding of 7,400 ETH through Tornado Cash, a cryptocurrency mixing platform.
Venus Protocol announced via X that they detected “unusual activity” within the THE liquidity pool and suspended all THE borrowing and withdrawal functions as a safety measure during their ongoing examination.
The Attacker May Have Lost Money The exploitation attempt didn’t unfold as smoothly as intended. Following the first borrowing cycle, Venus’s time-weighted average price oracle had only adjusted THE’s valuation to approximately $0.50, significantly lower than the artificially pumped market price.
The attacker persisted, continuing to acquire THE using borrowed capital. However, selling pressure proved overwhelming. The attacker’s account health factor declined toward 1, activating liquidation protocols.
THE tokens were sold into an orderbook with virtually no liquidity depth. The token’s value plummeted to roughly $0.24, falling beneath its pre-attack valuation. Weilin Li, an on-chain security researcher who initially identified the attack, suggested the perpetrator likely generated minimal on-chain profit and potentially incurred a net loss.
A History of Bad Debt at Venus This incident isn’t Venus Protocol’s first encounter with losses stemming from price manipulation tactics. A manipulation scheme involving its native XVS token in 2021 resulted in over $95 million in bad debt accumulation.
The platform also absorbed $14 million in uncollateralized debt during the Terra/LUNA collapse in 2022. A donation attack targeting Venus’s ZKSync implementation in February 2025 generated over $700,000 in bad debt using virtually identical exploitation techniques to Sunday’s incident.
The donation attack vulnerability exploited in this breach represents a documented security flaw in Compound-forked lending protocols. Venus’s Code4rena security assessment had specifically identified this risk, though the development team challenged the severity of the finding at that time.
As of this publication, THE was valued at $0.2255, representing a decline of more than 17% over the preceding 24-hour period.
TLDR Dogecoin price dropped to $0.38, showing a 2.5% decline since last Wednesday after hitting a three-year high of $0.43 New meme coin “Just a Chill Guy” (CHILLGUY) surged 400% in one day, reaching $408 million market cap Other dog-themed tokens (SHIB, BONK, WIF) are down, except FLOKI which rose 15% after Coinbase listing Mining expert suggests miners are selling DOGE holdings while profitable Despite recent dip, Dogecoin still up 163% over 30 days with $55 billion market cap Dogecoin, the seventh-largest cryptocurrency by market value, has entered a cooling period after experiencing major price gains in recent weeks.
The popular meme coin currently trades at $0.38, marking a 0.5% decrease over the past 24 hours and a 2.5% decline since last Wednesday.
The current trading pattern represents a notable shift from the coin’s recent performance. Just over a week ago, Dogecoin reached a three-year high of $0.43, briefly revisiting the $0.40 mark on Tuesday during Bitcoin’s push to new all-time highs.
While Dogecoin takes a breather, other animal-themed tokens are showing mixed results. Shiba Inu (SHIB), Bonk (BONK), and Dogwifhat (WIF) have all recorded daily losses. Among these, only BONK maintains positive performance over the weekly timeframe.
One exception to the downward trend is Floki (FLOKI), which has gained approximately 15% following an announcement of its listing on Coinbase. The news has provided a boost to the token’s market performance despite the general cooling in the meme coin sector.
A newcomer to the scene, Just a Chill Guy (CHILLGUY), has captured market attention with remarkable gains. The Solana-based meme coin has experienced a 400% price increase in just 24 hours, reaching $0.41 and achieving a market capitalization of $408 million. The token, which launched on Monday, draws inspiration from a viral TikTok featuring an anthropomorphic dog character.
Chill Guy Price on CoinGecko Market experts have offered various explanations for Dogecoin’s recent slowdown. Wintermute OTC trader Jake Ostrovskis attributes the cooling to broader market dynamics, noting that many alternative coins are experiencing similar patterns. He points to Bitcoin’s strong performance as a factor drawing liquidity away from other cryptocurrencies.
The mining sector may also play a role in the current market conditions. BIT Mining Chief Economist Youwei Yang highlights that mining Dogecoin alongside Litecoin remains highly profitable, with returns up to three times higher than Bitcoin mining, depending on the equipment used.
Yang suggests that miners might be taking advantage of elevated prices to sell their accumulated holdings. “Mining LTC/DOGE is at a very lucrative level,” he told Decrypt, adding that miners are likely selling both recent and historical holdings to secure profits.
Dogecoin Price on CoinGecko Despite the recent dip, Dogecoin’s longer-term performance remains strong. The cryptocurrency has recorded a 163% increase over the past 30 days, according to CoinGecko data, maintaining a market capitalization above $55 billion.
The coin’s growth trajectory has been notably influenced by Elon Musk, CEO of Tesla and SpaceX, who began promoting Dogecoin on social media in 2019. His continued support through the platform formerly known as Twitter, now X, has helped build a dedicated following for the cryptocurrency.
Mining activity continues to play a crucial role in Dogecoin’s market dynamics. The current profitability of mining operations has created opportunities for miners, though some experts advise taking profits while prices remain elevated.
The relationship between mining activities and market prices remains an important factor to watch. Yang emphasized the practical aspects of mining operations, suggesting that miners should consider securing profits to cover operational costs like electricity bills.
The cryptocurrency’s price movements occur against a backdrop of broader market activity. While Bitcoin reaches new highs, alternative coins including Dogecoin are experiencing varying degrees of price adjustment.
Recent trading patterns suggest a market that’s taking time to digest previous gains. The daily trading volume and price action indicate a period of consolidation following the intense activity of previous weeks.
Current market data shows that while immediate price momentum has slowed, the overall market structure for Dogecoin remains stable, with support levels holding at current trading ranges.
Oliver Dale
Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact [email protected]
Creator enforces copyright on viral ‘Chill Guy’ meme profits. Mixed reactions emerge over intellectual property in meme culture. Phillip Banks, the artist behind the viral “Just a Chill Guy” meme, has announced plans to enforce copyright protection on his creation. The meme, featuring a humanoid dog exuding nonchalance with a casual smirk and hands in its pockets, became an internet sensation, offering relatable advice about simplicity and stress avoidance.
Initially posted on X (formerly Twitter) in November 2024, the character quickly gained traction across platforms like TikTok, inspiring countless templates and videos. Its popularity soared further when a memecoin bearing the meme’s name entered the crypto market, surging by 538% within just two days. As of now, the coin has a market cap of $322.99 million, though it peaked at around $580 million.
just putting it out there, chill guy has been copyrighted. like, legally. I'll be issuing takedowns on for-profit related things over the next few days
— philb (@PhillipBankss) November 21, 2024 Meanwhile, Banks took to X on Thursday to address the rapid monetization of his artwork in the crypto space. “Chill guy has been copyrighted. Like, legally,” Banks posted via his account, adding that he plans to issue takedown notices for profit-driven uses of the meme. He clarified that while he is not opposed to brands using his artwork in trends—acknowledging brands like UFC and Halo that have engaged with the meme—he strongly opposes its association with crypto projects.
Mixed Reactions The move to enforce copyright has stirred mixed reactions online. While some applaud Banks for safeguarding his intellectual property, others question the implications of copyright enforcement in meme culture, which thrives on open sharing and reinterpretation.
Moreover, notable figures, including El Salvador’s President Nayib Bukele and entrepreneur Elon Musk, have recently engaged with the “Chill Guy” meme, further elevating its visibility. However, Banks’ announcement has impacted the memecoin’s market performance, with prices dipping despite remaining 35% higher over the past 24 hours.
As the debate around intellectual property and meme culture unfolds, Banks’ stance highlights a growing tension between creators’ rights and the viral, often uncontrollable, nature of internet trends.
Highlighted News Of The Day
US Spot Bitcoin ETFs Surpass $100B as Bitcoin Nears $100K
A creative writer with a flair for storytelling and a deep interest in cryptocurrencies and blockchain technology.
Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...
Has Also Written
Last updated:
November 21, 2024
Artist Phillip Banks, the creator behind the viral “Just a Chill Guy” meme, has announced plans to enforce copyright protection on his popular character.
The announcement comes as the meme, a laid-back, anthropomorphic dog with a signature smirk and hands in pockets, has taken over the crypto world with its meteoric rise in value.
“Just putting it out there, chill guy has been copyrighted. like, legally. I’ll be issuing takedowns on for-profit related things over the next few days,” Banks wrote on X.
He added that this does not include brand accounts using the meme as a trend. “Mainly unauthorized merchandise and shitcoins,” he added.
Just a Chill Guy Meme Becomes Viral SensationThe “Just a Chill Guy” meme gained traction in late 2023 after Banks initially posted the illustration on social media.
The character quickly resonated with audiences, becoming a viral sensation on platforms like TikTok and X.
Known for its casual and carefree demeanor, the humanoid dog became symbolic of a stress-free approach to life.
The meme recently garnered further global attention when El Salvador’s President Nayib Bukele shared it on his official X account.
The viral success of the character has extended into the cryptocurrency space, with the launch of the Solana-based memecoin, $CHILLGUY.
Serving as the coin’s mascot, the “Chill Guy” character played a pivotal role in the token’s explosive rise.
The CHILLGUY’s value surged an astonishing 538% in just two days, skyrocketing its market capitalization from $11.5 million on Monday to $488 million by Wednesday.
One trader, identified by the wallet address 9zW, reportedly turned a modest investment of just over $1,100 into unrealized gains exceeding $1 million.
Initially investing $233.89 during the token’s early stages on the Pump.fun meme coin launchpad, the trader capitalized on the coin’s 38,800% surge to a $4.4 million market cap within 30 hours.
The rollercoaster did not stop there.
Despite a temporary retracement, $CHILLGUY experienced another rally, leading the trader to make additional investments totaling $867.35.
By the time the token peaked on Wednesday, the trader had sold $411,500 worth of holdings while still holding tokens valued at $636,942.
Meme Coin Season Rages OnNotably, there have been more examples of traders turning a small investment into a massive fortune as of late as the meme coin mania rages on.
Just recently, an anonymous trader turned a $17 investment in Pnut, a meme coin inspired by a viral squirrel, into an astonishing $3 million in Solana tokens.
The token, created through Pump.Fun, gained popularity following the story of P’Nut, a squirrel euthanized for a rabies test, which sparked widespread internet support.
By leveraging perfect timing, the trader capitalized on Pnut’s meteoric rise, swapping tokens at their peak value of $1.50 just hours after Binance announced its listing.
The creator of an image used for a $300 million memecoin Chill Guy plans to issue takedown requests.Pursuing legal action may be difficult.The identity of the person who made the memecoin isn't known.Chill Guy, a memecoin that soared to a $500 million market value, is in jeopardy.
Phillip Banks, the digital artist who created the character used for the memecoin, said he plans to issue takedown requests for “for-profit related things” over the coming days.
“Just putting it out there, Chill Guy has been copyrighted, like, legally,” Banks said in a November 21 X post.
It’s not clear if Banks’ copyright applies to the image of the Chill Guy character, the name Chill Guy, or both.
In any case, pursuing legal action may be difficult.
In crypto, creating new tokens is permissionless. Anyone can do so without going through an approval process of revealing one’s identity.
The identity of the Chill Guy memecoin creator, who only goes by the pseudonym “mrowl,” is unknown, meaning Banks will have to find out who made the token to get any potential takedown request to stick.
Failing that, Banks could still petition known entities, such as decentralised crypto exchanges, to avoid the token, crippling traders’ ability to buy and sell it.
In 2021, decentralised exchange Uniswap restricted access through its website to a small number of tokens that potentially violated US securities laws, although those tokens could still be traded by interacting with the Ethereum blockchain directly.
Later that year, Pepe the Frog creator Matt Furie succeeded in getting NFT marketplace OpenSea to take down the project Sad Frogs District, which Furie claimed rips off the Pepe character.
Takedown requests may also discourage centralised exchanges like Coinbase or Binance from listing Chill Guy. Popular memecoin Pnut surged in value after top crypto exchange Binance listed it for trading.
Banks did not immediately respond to a request for comment.
Who is Chill Guy?Banks created the Chill Guy character in October 2023.
“His whole deal is he’s a chill guy that lowkey doesn’t give a fuck,” Banks said of his creation at the time.
Over a year later, Chill Guy reappeared when users on social media site TikTok began referencing the character in videos and creating memes embodying his carefree personality.
DWF Labs rides memecoins’ rise with $20m fund
Crypto trading firm DWF Labs has launched a $20 million fund...Crypto trading firm DWF Labs has launched a $20 million fund dedicated to memecoins, tapping into a sector that has seen outsize...
As Chill Guy went viral on TikTok, someone used memecoin platform pump.fun to launch a Solana token named after the character on November 15.
Within days, Chill Guy soared to a $500 million market value as traders piled in, according to data from GeckoTerminal.
It has since dropped to around $347 million following Banks’ X posts.
Banks said on X that he doesn’t really care about brands or TikTok users using Chill Guy in posts, asking only that they credit him.
But he said he plans to take action against those profiting from Chill Guy in the form of “unauthorised merchandise and shitcoins.”
Copyright issuesWhile some attempts at copyright takedown in crypto have been successful, such as Pepe creator Furie’s action against OpenSea, others have failed.
Last October, supermarket chain Trader Joe’s sued a decentralised crypto exchange of the same name, claiming that its creators had infringed on its intellectual property and degraded its “wholesome and high-quality brand.”
In February, the judge presiding over the case agreed with the exchange’s request to dismiss it “for failure to state a claim upon which relief can be granted.”
Basically, Trader Joe’s couldn’t identify exactly who it was suing.
“These are decentralised crypto operators,” intellectual property lawyer Jonathon Hance told DL News at the time. “They use aliases, they don’t necessarily have a corporate headquarters, some of them are not even clear on who their employees or founders are, and they certainly don’t like to tell you where they keep their assets.”
Not so chill after all.
Tim Craig is DL News’ Edinburgh-based DeFi Correspondent. Reach out with tips at [email protected].
Phillip Banks, the artist behind the viral "Chill Guy" meme, has taken to Twitter to threaten legal action against meme coins using his art.
Solana meme coin CHILLGUY had peaked at a $500 million market cap. But in the two hours that followed Banks’ tweet, the price plummeted 54% to $220 million. It's now up to $375 million. CHILLGUY surged by over 400% on Wednesday; the token was created less than a week ago.
“Chill guy has been copyrighted. Like, legally. I'll be issuing takedowns on for-profit-related things over the next few days,” Banks posted on Twitter, after a brief hiatus from the platform.
As Chill Guy has become an internet sensation, big celebrities—from UFC heavyweight champion Jon Jones to rapper Sexyy Red—and brands like classic Xbox franchise Halo have reposted the meme. This kind of usage the artist doesn’t mind, he said, but the creation of crypto coins crosses the line.
Banks said that he won't pursue action against "brand accounts using him as a trend," adding that it's "kinda something I don't really care about (I do just ask for credit or Xboxes).” He explained on Twitter that the usage he doesn’t like includes “mainly unauthorized merchandise and shitcoins.”
As the CHILLGUY meme coin roared throughout the week, Banks put his Twitter account on private and slammed crypto projects using his art. He claimed that his DMs and notifications were being bombarded with “crypto shit,” and that’s why he needed to take a brief break from the site.
Although that happened on Tuesday, it didn’t stop the CHILLGUY ascension as it rose from $11.45 million at the start of the day to a Wednesday peak of $510 million. On top of this, countless other tokens launched using Banks’ artwork or adjusting it to fit their needs—i.e. CHILWIFHAT, Not a Chill Guy (PHILLIP), and CHILLGIRL.
Despite this formal denouncement and threat from the Chill Guy art creator, some crypto exchanges have continued to list the token for trading on their platform. Crypto.com and Gate.io have already listed the token, while Binance’s Twitter account hinted at the possibility.
This situation echoes meme coin-fueled copyright feuds of the past. Most notably, Solana token Shark Cat (SC) used the image of an internet-famous kitten called Nala without its owners permission. This led to threats of legal action, but the two sides eventually settled outside of court with the cat owner coming to an agreement with the token team.
The CHILLGUY meme coin has created a donation wallet earmarked for Banks. At the time of writing, the wallet has $59,000 worth of Solana and nearly $240,000 worth of tokens—including $177,000 of CHILLGUY, $44,700 of REALLYCHILLGUY, and $2,500 of FWOG.
We are just 100,000 chill guys who appreciate your art @PhillipBankss
Donation wallet is set up, if you don't want the money we will donate it to a charity of your choice.
— just a chill guy cto (@chillguycto) November 21, 2024
But despite this, Banks appears uninterested. Instead, the artist claimed that the meme coin backlash has led to him being doxxed—meaning his real identity has been leaked. Some traders apologized for the behavior of their compatriots, while others continued the volley of slams.
"Karen vibes," one trader replied, citing the pejorative term. Banks has since turned his Twitter back to private.
Edited by Andrew Hayward and Stacy Elliott
Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.
