Track market-moving stories before they get noisy

ENS dropped plans for Namechain, its own Layer-2 network, as the ENSv2 upgrade stays on Ethereum L1. The ENSv2 will remain fully compatible with Layer-2 networks. In a significant strategic shift, the Ethereum Name Service (ENS) has announced that its next-generation protocol, ENSv2, will stayon Ethereum’s Layer-1 mainchain, dropping previous plans of building its own Layer-2 network, Namechain, according to a blog post by ENS co-founder Nick Johnson on February 6.

ENSv2 is the Ethereum Name Service’s upcoming major upgrade,  intended to expand ENS capabilities to a Layer-2 network, providing users with lower fees and faster transactions than the Ethereum mainnet, as well as to provide structural modifications such as hierarchical registries, which give name owners more power and support for numerous chains.

Why ENS Dropped Its Layer-2 Plans Johnson wrote, “ Ethereum is scaling faster than almost anyone predicted two years ago; we’ve seen a 99% reduction in ENS registration gas costs over the past year, coinciding with Ethereum’s gas limit increases from 30M to 60M in 2025. By staying on L1, we’re aligning ENS with the strongest possible infrastructure guarantees, Ethereum itself.”

As Johnson mentioned, ENSv2 will still be released as planned, and halting work on Namechain will not affect the company’s broader roadmap. By having everything on one blockchain rather than two, he expects names to load faster and run more smoothly for users. Also, Johnson noted that the majority of the improvements made to make ENS easier to use over the last two years will stay in place.

Further, ENS Labs COO Katherine Wu shared a post via her X handle, “It is important to note that ENSv2 is ultimately an upgrade to ENS as it exists today — it’s still ENS! Regardless of where it ultimately gets deployed,” and highlighted new features such as individual registries for each ENS name and new apps currently in testing.

Vitalik Backs ENSv2’s Ethereum L1 Move Vitalik Buterin supported the ENS labs decision by saying, “It’s a good decision!” As he noted that ENS names and records represent a critical on-chain state for the Ethereum ecosystem, should remain easily accessible from anywhere.

Further, he added, “It’s also a semi-financial application, in the sense that buying and holding ENS names has a cost, and ENS names can become very valuable objects. With the expanded scaling roadmap, Ethereum L1 is the ideal place for these applications.”

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Writer with roots in journalism and international relations, actively exploring blockchain and crypto, with curiosity for the field and a passion for simplifying complex ideas.

Ripple has highlighted the growing utility of XRP, with Flare co-founder and CEO Hugo Philion explaining how Flare is giving XRP holders access to new use cases.

Speaking on Ripple’s Onchain Economy series, Philion said Flare aims to extend the XRP ecosystem by bringing XRP into a smart contract environment. This allows XRP holders to access decentralized finance (DeFi) applications and other blockchain-based services.

Flare Connects XRP to Smart Contracts Philion described Flare as a Layer-1 network focusing on interoperability and data protocols. One of its key products is FXRP, a bridge that connects the XRP Ledger to the Flare network.

Through FXRP, XRP can be used in smart contract applications. This opens the door to DeFi services that are not available directly on the XRP Ledger.

For example, users can use XRP as collateral, borrow against it, access stablecoins, and interact with tokenized assets. These assets can include commodities such as gold and other real-world assets.

According to Philion, these tools allow XRP holders to do more with their tokens instead of simply holding them.

Given this utility, FXRP has gained wide acceptance in the crypto community. The most recent data show that FXRP has a circulating supply of 155.76 million and a TVL of $186 million.

New Yield Opportunities for XRP Holders Philion also highlighted yield generation as an important use case. Through Flare, users can deposit XRP as collateral to borrow stablecoins. They can then deploy those stablecoins into other markets that offer returns.

This approach allows users to earn yield while still maintaining exposure to their XRP holdings.

Flare has also integrated wallet features that let users manage XRP on Flare directly from the XRP Ledger. Philion said this creates a smoother experience between the two networks.

Privacy May Drive Institutional Adoption Looking ahead, Philion discussed a new initiative called Flare Confidential Compute.

The system operates outside the blockchain and uses trusted execution environments to verify confidential computations. It is designed for applications that require significant computing power, such as AI models and continuous risk-monitoring systems.

Philion believes privacy will be an important requirement for institutional participation in blockchain networks. He previously noted that FXRP surpassed 100 million in supply solely through retail, without institutional participation.

Flare Sees Growth Potential in Tokenized Assets Philion said Flare’s technology significantly expands the capabilities of Ripple and the XRP Ledger, especially in the real-world asset (RWA) sector.

He noted that once RWAs are issued on blockchain networks, Flare’s interoperability and smart contract tools can unlock additional functionality for those assets.

According to Philion, this could become a major growth area for both Flare and the XRP ecosystem as demand for blockchain utility continues to increase.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

Ras Al-Khaimah, United Arab Emirates, December 18th, 2025, Chainwire

BDX is integrated with LayerZero and live on Stargate, enabling fast and secure value transfers across multiple chains. 

Beldex, a privacy-focused blockchain network, has announced the integration of its native token, BDX, with LayerZero’s Omnichain Fungible Token (OFT) standard. As part of this integration, BDX is now live on Stargate, a cross-chain liquidity protocol and one of the most widely used bridges in decentralized finance (DeFi) by transfer volume.

The integration enables BDX to be transferred seamlessly across multiple supported blockchains, including BNB Smart Chain, Ethereum, Solana, Base, and Arbitrum, at a 1:1 ratio with no slippage. This development enhances interoperability for BDX, allowing for broader accessibility across decentralized ecosystems while preserving its native privacy-focused attributes on the Beldex network.

The Challenge: Assets Need To Be Where Users Are

Crypto no longer operates on a single chain. Liquidity, applications, and users shift rapidly across ecosystems, and assets require the ability to follow. However, most assets remain anchored to their native chains.

This fragmentation can prevent assets from reaching wider markets, hinder integration, and create challenges for developers aiming to build unified experiences across chains.

While BDX has operated natively on the Beldex network, extending compatibility to Ethereum, BNB Smart Chain, Solana, Base, and Arbitrum allows for broader access and improved interoperability.

BDX Adopts LayerZero’s OFT Standard

BDX becomes one of the first privacy-focused assets issued on LayerZero’s OFT standard, enabling cross-chain compatibility while maintaining privacy on its native chain. The OFT representation of BDX operates transparently across supported networks.

This integration enables BDX to expand its cross-chain presence using LayerZero’s technology, with future potential to support up to 150+ blockchains.

With LayerZero and Stargate Finance, users can now:

Move BDX across chains in a unified 1:1 model For example: BDX (BNB Smart Chain) → BDX (Ethereum) BDX (Ethereum) → BDX (Solana) Connecting BDX to the broader crypto landscape via LayerZero provides greater interoperability and utility, supporting more use cases across ecosystems.

Privacy With Multi-Chain Access

The LayerZero integration aligns with Beldex’s mission to balance privacy with usability. Key benefits include:

Two Forms, One Token: Native BDX remains private on the Beldex blockchain, while its OFT representation operates across supported chains. Supported Across Blockchains: Users can access BDX in multiple blockchain environments to support liquidity movement and interoperability. Frictionless Cross-Chain Transfers: BDX is no longer siloed; users can move the tokenized asset across integrated networks. Future-Ready Infrastructure: LayerZero’s infrastructure positions Beldex to support modular, interconnected blockchain systems. This integration connects Beldex’s privacy-focused foundation with the expanding demand for multi-chain accessibility.

The Beldex Ecosystem: Built for Private Interactions

Beldex offers a decentralized suite of products designed to support private, secure communication and access within internet and blockchain environments:

BChat: A decentralized messaging app that secures private conversations through the Beldex network. BelNet: A decentralized VPN and onion-routing protocol for secure, anonymous connections. Beldex Browser: A privacy-focused web browser offering ad-free, secure browsing powered by the Beldex chain. BNS Domains: A decentralized identity system enabling human-readable blockchain addresses. Masternodes: A network infrastructure supporting transaction validation and network integrity. With LayerZero support, BDX extends beyond the Beldex ecosystem. The network also continues to advance its privacy and scalability technologies, including Bulletproof++ from the Obscura hardfork, along with ongoing research into Fully Homomorphic Encryption (FHE).

Expanding Across Every Chain

Multi-chain compatibility has become the default in DeFi. By integrating LayerZero and going live on Stargate, BDX can now be accessed across additional chains while retaining its native privacy model on Beldex.

This integration enhances BDX’s utility in cross-chain environments and contributes to Beldex’s continued development of privacy-enabled, interoperable blockchain infrastructure.

About Us

Beldex combines the decentralized power of blockchain with AI’s intelligence to build a confidentiality-centered ecosystem. Our solutions prioritize confidentiality, scalability, and usability, redefining how you interact with the digital world. At Beldex, we believe the future of the internet lies in secure, confidential communication and data usage. By leveraging confidential computing, we protect sensitive data even during processing, ensuring a secure and confidential digital experience. Our integration of Fully Homomorphic Encryption (FHE) enables encrypted data to be processed without decryption, providing unmatched confidentiality for decentralized applications.

Wemix Foundation CEO addressed the late announcement of Feb. 28 security breach and announced full services resumption on Mar. 21.

In a press conference held on Mar. 17, Wemix Foundation (WEMIX) CEO Kim Seok-hwan addressed the delayed announcement of the recent security breach and announced full services resumption on 21 March, as initially reported by Business Korea.

The incident in question occurred on Feb. 28 and involved a security breach of the Wemix Foundation’s “Play Bridge Vault” crypto wallet, which transfers WEMIX to other blockchains.

Around 8.6 million WEMIX tokens were withdrawn, worth around $6.04 million (8.75 billion won). Following the hack, the affected server was shut down immediately, and the company reported it to the Cyber Investigation Team of the Seoul National Police Agency.

Although the incident was noted on Feb. 28, Wemix Foundation didn’t report it until Mar. 4, sparking public backlash. In the press conference today, Wemix Foundation CEO Kim Seok-hwan addressed the late announcement, explaining that it had been delayed due to concerns about additional attacks and to avoid panic selling.

This is not the first time Wemix Foundation was criticized for issues with information disclosure. In October 2022, Digital Asset Exchange Joint Consultative Body has warned investors to exercise caution with WEMIX due issues with disclosing WEMIX circulation volume.

That being said, delaying the announcement appears justified, as the CEO explained that without identifying the infiltration method, the platform risked further attacks.

In addition to addressing the delayed announcement, Seok-hwan said that Wemix Foundation is investigating the cause of the infiltration and relocating all blockchain-related infrastructure. Complete service resumption is slated for Mar. 21.

In addition to these efforts, Wemix Foundation introduced a series of buyback initiatives to stabilize the market. On Mar. 13, they announced a 10 billion won buyback, followed by an additional acquisition of 20 million WEMIX.

Meanwhile, the WEMIX token has risen from the close of $0.45 on Mar. 4 (when the company disclosed the hack) to $0.57 at the time of writing, according to CoinGecko. However, it remains down 3% on the daily timeframe.

In a massive phishing scam, $12 million vanished from four victims within five days, exposing critical gaps in cryptocurrency security. The prevalent use of create2, a standard tool, empowers malicious actors to exploit temporary addresses and sidestep wallet defenses based on address blacklists. Moreover, the crypto scam drained millions worth of Chainlink (LINK), SatoshiVM (SAVM), Optimism (OP), Tether (USDT), USD Coin (USDC), Binance USD (BUSD) and SuperVerse (SUPER) tokens.

Details Of Recent Crypto Scam According to Scam Sniffer, a Web3 scam tracking platform, the ERC20 permit has become a standardized weapon. It intensifies the impact of wallet-draining attacks, with collateral tokens, including LP tokens and NFTs.

Moreover, the post highlighted that the calculated use of ERC20 permit signatures has become the primary mode of operation for such crypto scams. This is a significant peril to users who unsuspectingly fall prey to seemingly legitimate ERC721 signatures designed for gasless token approval.

In addition, the snapshots shared by Scam Sniffer on X reveal that apart from the above-mentioned digital currencies, collateral tokens, such as aEthWETH, aEthUNI, and aEthLink were also affected Furthermore, the most recent incident further underscores the severity of the threat.

The latest update underscores that a victim lost a staggering $2.34 million worth of SUPER to a crypto scam via phishing. This eventually caused an immediate 20% plummet in SUPER’s market cap within a mere 45 minutes.

Also Read: Bitcoin Price Jumps 5% In Catch-Up To Equities, $43,000 In Sight

Ripple CTO Unveils New OpenSea Scam Ripple Chief Technology Officer David Schwartz has recently revealed a phishing scam targeting users of OpenSea, a prominent NFT marketplace. He noted that the scam involves fraudulent emails that claim to be from OpenSea and notify users of bids on their NFTs.

Schwartz added that these emails contain a malicious link, disguised as a SurveyMonkey survey, redirecting users to a fake OpenSea page aiming to steal their credentials. The Ripple CTO’s revelation highlights the increasing sophistication of hackers in the digital asset space.

Furthermore, similar scams have been reported, suggesting a growing trend of fraudulent activities in the crypto community. Moreover, this displays the necessity for heightened vigilance and security measures among users and industry platforms.

Also Read: 7 Reasons To Buy Solana (SOL) This Year

Zug, Switzerland, October 17th, 2024, Chainwire

Most zero-knowledge proofs are generated server-side for scaling, but Aleph Zero’s zkOS does that directly on users’ devices, offering privacy in a fraction of second

Aleph Zero, the leading blockchain platform recognized for its focus on privacy and scalability, announces the launch of the first feature of zkOS (zero-knowledge operating system)—Shielding, on its EVM Testnet. This release marks the first opportunity for users to experience the shielding feature of zkOS in action, demonstrating the speed and privacy capabilities of Aleph Zero’s zero-knowledge proof (ZK) technology optimizations. 

Privacy at Lightning Speed Table of Contents

Privacy at Lightning SpeedHow the Shielding Demo WorksWhy zkOS Matters: A Glimpse Into the FutureUnlocking Privacy for New Use CaseNext Steps for Aleph ZeroContact The Shielding Demo release is a significant milestone for Aleph Zero, representing its commitment to developing practical privacy solutions for the blockchain industry. Aleph Zero’s zkOS enables zero-knowledge proofs to be generated client-side—meaning data is encrypted locally on the user’s device and never leaves unencrypted—providing high levels of privacy without compromising transaction speed. The Shielding Demo serves as the first practical interface for users to experience this privacy functionality, with zero-knowledge proofs generated within 0.5-3 seconds, ensuring that privacy has minimal impact on transaction performance.

“Privacy has long been a challenge in blockchain, often due to poor user experience,” said Adam Gagol, Co-Founder & CTO of Aleph Zero. “With today’s release, we’re delivering one of the fastest client-side ZK directly to users, combining privacy and performance. The release of the Shielding Demo offers a glimpse into how zkOS can bring privacy to DeFi without sacrificing speed or usability.”

How the Shielding Demo Works The Shielding Demo provides an intuitive interface for users to test Aleph Zero’s zkOS privacy layer. Here’s how it works:

Data Privacy: zkOS generates zero-knowledge proofs locally on the user’s device, ensuring that data remains private and secure. Transaction Flow: Users generate ZK proofs, send transactions to a relayer, and then they are executed on-chain—all while maintaining privacy. Fast Proving Times: The system delivers ZK proofs in 0.5-3 seconds on most devices, demonstrating zkOS’s speed and its minimal impact on transaction times. The Testnet version of zkOS allows users to interact with the system and witness its capabilities, though Aleph Zero notes that the privacy features will be built directly into the upcoming Common app.

Why zkOS Matters: A Glimpse Into the Future The launch of the Shielding Demo on Testnet is only the beginning. Aleph Zero’s roadmap for zkOS extends far beyond this initial release, with ongoing work on simplifying the user experience and the introduction of additional privacy features, such as ZK-ID and anonymity revokers, to ensure both privacy and protection against fraudulent use of the platform.

The system is designed to be easily integrated by developers, providing a privacy framework that requires minimal cryptographic knowledge. This simplicity, combined with Aleph Zero’s rapid client-side ZK proof generation, makes zkOS a critical tool for developers building privacy-centric applications across DeFi and other web3 sectors.

Unlocking Privacy for New Use Case The privacy space in blockchain has been facing increased challenges, such as regulatory scrutiny and delistings, often due to concerns over non-compliance. Aleph Zero’s zkOS offers a fresh approach by delivering privacy solutions that balance user confidentiality with regulatory requirements. Instead of focusing solely on anonymity, zkOS is designed to meet both the needs of users and the evolving demands of compliance.

zkOS enables users to manage their assets securely across multiple blockchains, ensuring their transactions remain private. Unlike traditional privacy methods that rely on centralized or hardware-based systems, zkOS operates directly on the client-side, safeguarding privacy without external dependencies.

Next Steps for Aleph Zero As the Testnet release progresses, Aleph Zero is focusing on refining Shielding and zkOS for its Mainnet deployment. Users who engage with the Shielding Demo will have the opportunity to be whitelisted for upcoming zkOS Beta testing on Aleph Zero’s EVM Mainnet.

About Aleph Zero

Aleph Zero is an ecosystem of blockchain solutions that are engineered for speed, data confidentiality, and ease of development. It achieves efficiencies akin to conventional web2 systems, upholds rigorous standards for data protection via zero-knowledge proofs (ZKP), and offers a comprehensive toolset for development across web3, ranging from WASM-based Rust to EVM-based Solidity environments. Aleph Zero’s versatility is highlighted by over 40 use cases being actively developed, showcasing its adaptability across various sectors and applications. These use cases are part of an engaged community and growing ecosystem of web3 applications supported by Aleph Zero programs.

For more information, visit https://alephzero.org/.

For any inquiries about this release, please contact [email protected] or [email protected].

Contact PR Manager
Josh Adams
Aleph Zero
[email protected]

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

The following is a guest article from Matthew Niemerg, co-founder of Aleph Zero.

The Fifth Circuit Court of Appeals handed down a landmark ruling yesterday that could fundamentally reshape how cryptocurrency protocols are regulated. In Van Loon v. Department of Treasury, the court found that the Treasury Department's Office of Foreign Assets Control (OFAC) exceeded its authority when it sanctioned Tornado Cash's immutable smart contracts.

The ruling hinges on a deceptively simple question: can computer code that cannot be modified or controlled be considered “property”? The appellate court's answer was an emphatic no.

Tornado Cash is a cryptocurrency anonymizing service that helps preserve privacy by pooling users' digital assets together, making transactions harder to trace. In 2022, OFAC sanctioned it after North Korean hackers allegedly used it to launder over $455 million in stolen funds. But the court found that since Tornado Cash's core protocols are “immutable” – meaning they cannot be changed or controlled by anyone – they don't qualify as property that can be sanctioned under existing law.

A Watershed Moment for Crypto“Because these immutable smart contracts are unchangeable and unremovable, they remain available for anyone to use,” wrote Judge Don Willett, noting that even under sanctions, “the targeted North Korean wrongdoers are not actually blocked from retrieving their assets.”

This represents a watershed moment for the cryptocurrency industry. For the first time, a federal appeals court has acknowledged that certain decentralized protocols operate entirely as something completely different from traditional property or businesses. Since no one “owns” the protocols underlying email or the web, these autonomous smart contracts exist independent of any controlling entity.

The implications are significant. The ruling effectively creates a safe harbor for truly decentralized protocols that cannot be modified or controlled. While OFAC can still sanction individuals and companies, it cannot sanction the underlying code itself – at least under current law.

Balancing Privacy and SecurityHowever, the court explicitly left the door open for Congress to update the 1977 International Emergency Economic Powers Act (IEEPA) to address modern technologies. “Perhaps Congress will update IEEPA, enacted during the Carter Administration, to target modern technologies like crypto-mixing software,” the ruling noted. “Until then, we hold that Tornado Cash's immutable smart contracts…cannot be blocked under IEEPA.”

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This highlights the broader challenge of regulating privacy-preserving technologies that can be used for both legitimate and illegitimate purposes. As the court record shows, Tornado Cash was used by individuals seeking to protect their privacy when donating to Ukrainian war efforts and avoid harassment. But it was also exploited by bad actors for money laundering.

The crypto industry still has work to do in preventing illicit use while preserving privacy rights. Some proposed approaches include allowing users to voluntarily prove the legitimacy of their funds, or implementing “anonymity revoking” systems that could unmask users only under specific circumstances with proper oversight.

The Path ForwardJudge Willett acknowledged the government's concerns about illicit finance as “undeniably legitimate.” But he emphasized that courts must apply the law as written, not “tinker with it.” The ruling concludes:

“Mending a statute's blind spots or smoothing its disruptive effects falls outside our lane.”

This balanced approach – recognizing both the importance of preventing criminal activity and the need to protect privacy-enhancing innovation – points the way forward. Rather than trying to force new technologies into old regulatory frameworks, legislators need to craft updated laws that understand the unique nature of decentralized systems while addressing legitimate security concerns.

For now though, this ruling represents a victory for technological innovation and a recognition that not everything in the digital age fits neatly into traditional legal categories of property and ownership. The challenge ahead is building a regulatory framework as sophisticated as the technology it aims to govern.

TLDR: Astar proposes capping total ASTR supply at 10 billion tokens through new emission decay mechanism.  Lower inflation rates address mismatch between current participation levels and token supply growth.  Emission decay creates predictable path for token issuance, ending unlimited supply expansion model.  Burndrop mechanisms may permanently reduce circulation below the proposed 10 billion token ceiling. Tokenomics 3.0 represents Astar Network’s proposal to restructure ASTR supply mechanics through two fundamental changes.

The network plans to introduce lower inflation rates alongside a defined maximum supply of 10 billion tokens. Astar announced the proposal through its official channels, outlining how emission decay will establish a fixed cap on total token circulation.

The updates aim to address current network conditions where participation levels do not align with existing inflation rates. This proposal marks a structural shift in how ASTR issuance operates.

Emission Decay Establishes Fixed Supply Limit The proposed emission decay mechanism will set a clear boundary for total ASTR supply. According to the network’s announcement, supply will converge toward 10 billion ASTR tokens.

This eliminates the previous model of unlimited supply expansion. The change introduces predictability into the token’s long-term economic structure.

Emission decay determines how issuance decreases progressively over time. The mechanism creates a mathematical path toward the defined supply cap.

Network participants will have clarity on future token availability. This structure differs from the current open-ended inflation model.

Supply-side mechanisms like Burndrop may reduce total circulation below the cap. These mechanisms permanently remove tokens from the available supply.

The combination of emission decay and burn functions could push actual supply lower. Therefore, 10 billion represents a ceiling rather than a guaranteed endpoint.

The proposal makes issuance rules more transparent for stakeholders. Token holders can calculate future supply expansion with greater accuracy.

This clarity supports informed decision-making across the ecosystem. Moreover, defined parameters reduce uncertainty in long-term planning.

Inflation Reduction Addresses Dilution Concerns Astar’s proposal reduces maximum inflation to slow supply growth rates. The network identified that current participation does not support existing inflation levels.

When supply expands faster than network activity, dilution accelerates. Lower inflation rates help control this dynamic.

The adjustment aligns supply growth with actual network engagement. Tokenomics 3.0 aims to maintain balance between issuance and participation.

This approach protects existing token holders from excessive dilution. Controlled supply growth supports value retention over time.

Current network conditions necessitate this recalibration of inflation parameters. The proposal responds to observable gaps between supply expansion and user activity.

By narrowing this gap, the network seeks to stabilize its economic foundation. This creates conditions for sustainable development.

The changes strengthen supply discipline within the ecosystem. Astar positions these updates as protective measures for ASTR value.

The network emphasizes that controlled issuance supports long-term stability. These modifications work together to establish a more measured approach to token economics as the ecosystem continues to develop.

Table of contents

Biconomy, a crypto exchange based in Canada, today announced the listing of XDC Network on its digital asset trading platform. According to the announcement made today, spot trading for the XDC/USDC is now available for customers to participate in various financial transactions.

Powered by its native (BIT) token, Biconomy exchange is an Ontario-based cryptocurrency trading and investment platform that allows people to seamlessly purchase, sell, swap, trade, and store crypto assets. Since its launch in 2019, the exchange has continued to expand its global presence and serves users across the international scene. Its decision to add the XDC token to its trading platform sends a powerful signal about the capability of this altcoin.

Biconomy Allows Users to Leverage XDC for Trading The listing of the XDC Network on Biconomy’s trading platform means that the cryptocurrency has passed Biconomy’s stringent due diligence process, which examines factors such as security, project capability, and regulatory compliance. The listing offers immediate legitimacy of the XDC token and its visibility to the public market.

By adding XDC Network, a Layer-1 blockchain designed for trade finance, RWA tokenization, and payments, into its trading platform, Biconomy allows crypto enthusiasts to engage with the XDC token through investing, trading, and staking activities. The listing on Biconomy further increases the token’s visibility and liquidity within crypto and DeFi ecosystems to drive the asset’s widespread utility.

The current price of XDC is $0.04994. XDC Listing Fuels Market Momentum Today, XDC surged its price by 5.9%, making it currently trading at $0.04994, potentially catalyzed by its token listing on Biconomy. The decision for Biconomy to list XDC comes after Bybit integrated XDC (yesterday, December 9, 2025) into its centralized cryptocurrency exchange to allowing its customers to enjoy low-cost transactions and fast payment settlements powered by the XDC Network.   

The XDC Network is recognized for its low-cost and rapid transactions. Its transaction fees are much lower than other blockchain platforms, making it more cost-efficient for customers. In late August, Circle, a stablecoin issuer, integrated its USDC payment rails into the XDC Network to improve trade finance, RWA settlements, and DeFi applications.

The latest three integrations above highlight XDC’s positioning itself as a prominent blockchain network for rapid, low-cost global financial trade, real-world asset tokenization, and cross-border payments.

The XDC Network’s TVL, which currently stands at $23.48 million, is proof of its rapidly growing Layer-1 blockchain. This points out a shift towards utility-driven infrastructure that thrives amid the stablecoin boom, rising tokenized real-world assets, and surging on-chain institutional inflows. 

AUTHOR

Nicholas Otieno is a fintech writer specializing in cryptocurrency markets. Since 2019, he has written articles to educate readers about cryptocurrency and its substantial positive impact on global prosperity. Nicholas is a Bitcoin holder, believing firmly in its fundamentals. His work has been featured in publications such as Finance Magnates, Blockchain.News, Bitcoin Magazine, Coincub, and among others. When he's not writing, Nicholas enjoys performing domestic tasks, spending time with friends, listening to music, and watching football.

May 13, 2026, 4:48 p.m.

6 min read

Summary

Welcome to The Protocol, CoinDesk's weekly wrap of the most important stories in cryptocurrency tech development. I’m Margaux Nijkerk, a reporter at CoinDesk.

In this issue:

The biggest consensus overhaul in Solana history is officially live for testingLayerZero says it "made a mistake" in $292 million Kelp exploitRonin set to transition to Ethereum layer 2 from independent sidechainThe Ethereum Foundation unveils new "Clear Signing" standard to stop users from approving malicious crypto transactionsNetwork News"ALPENGLOW" UPGRADE LIVE FOR TESTING ON SOLANA: Solana developer Anza said that Alpenglow, the network’s biggest proposed consensus overhaul to date, is live on a community test cluster, marking a major step toward a potential mainnet rollout. The update means validator operators can now test software designed to move Solana from its current consensus system, which combines Proof-of-Stake with TowerBFT and Proof-of-History, toward a new architecture intended to dramatically reduce finality times and improve network responsiveness. “Alpenglow is live on the community test cluster,” Anza wrote on X. “The biggest consensus change in Solana’s history, now running on validator infrastructure ahead of mainnet.” Today, Solana relies on Proof-of-History, a cryptographic clock that timestamps transactions, alongside TowerBFT, a voting mechanism validators use to agree on the state of the blockchain. While the design has helped Solana achieve high throughput and low fees, some have pointed to outages and network instability during periods of heavy demand. — Margaux Nijkerk Read more.

LAYERZERO APOLOGY FOR KELP DAO INCIDENT: LayerZero said that it “made a mistake” allowing its own verification infrastructure to secure high-value crypto assets in a vulnerable configuration, marking a notable shift in tone after weeks of blaming developer Kelp DAO for a $292 million hack tied to North Korean attackers. The admission marks a notable shift after weeks of public finger-pointing between LayerZero and Kelp over responsibility for the April hack, which LayerZero had initially framed as an application-level configuration failure by Kelp. “First things first: an overdue apology,” LayerZero wrote in a blog. LayerZero initially blamed Kelp, arguing the protocol had chosen a risky “1-of-1” configuration in which only a single decentralized verifier network, or DVN, needed to approve cross-chain transfers, creating a single point of failure. A DVN is part of the infrastructure that verifies whether a transaction moving assets between blockchains is legitimate. “We made a mistake by allowing our DVN to act as a 1/1 DVN for high-value transactions,” the company said. “We didn't police what our DVN was securing, which created a risk we simply didn't see. We own that.” — Sam Reynolds Read more.

RONIN TO TRANSITION TO LAYER-2: Ronin, the gaming-centric blockchain once synonymous with the industry’s infamous $625 million exploit in 2022, is officially shedding its sidechain skin on May 12 to become an Ethereum layer 2 to improve security while maintaining throughput. Ronin, which announced the migration in April, will execute a hard fork at block 55,577,490, a process that will result in about 10 hours of downtime for users, the network said Monday on X. According to onchain data, the migration is expected to begin on Tuesday around 15:16 UTC. “Four years ago, we launched Ronin because Axie Infinity needed a faster and more efficient network,” Ronin said when announcing the migration. “It worked. Axie Infinity onboarded millions of gamers to crypto, and Pixels proved that it was possible to do it again.” The time has come to plug "back into the mothership." While operating as an independent sidechain in mid-May 2022, Ronin suffered what is still today the largest DeFI bridge exploit in history. Layer 2 protocols benefit from tighter links to the underlying blockchain than sidechains, offering benefits that include greater security. — Olivier Acuna Read more.

ETHEREUM DEVELOPERS RELEASE “CLEAR SIGNING”: The Ethereum Foundation and a group of major crypto wallet developers are rolling out a new security standard designed to stop users from accidentally signing away their funds, a problem that has fueled some of the industry’s biggest hacks and scams. The initiative, called “Clear Signing,” aims to replace the confusing walls of code users currently see when approving Ethereum transactions with simple, human-readable explanations of what they’re actually agreeing to. The effort comes after years of phishing attacks and wallet drains that often boil down to the same issue: users unknowingly approving malicious transactions they don’t understand. The Ethereum Foundation pointed to incidents like the Bybit hack as examples of how attackers exploit “blind signing,” where users approve transactions filled with unreadable technical data. Right now, signing a crypto transaction can feel like clicking “accept” on a terms-of-service page written in another language. Wallets often display long strings of code that only highly technical users can decipher, leaving everyday traders vulnerable to fake apps, malicious links and compromised websites. — Margaux Nijkerk Read More.

In Other NewsCharles Schwab, the brokerage giant that manages around $12 trillion in client assets, began the rollout of its spot cryptocurrency trading service for retail customers in the U.S. An initial group of clients can now trade bitcoin and ether (ETH) on the Schwab Crypto platform, the company posted on X.In July last year, CEO Rick Wurster said the company planned to introduce crypto trading in the near future, with a timeframe of first-half 2026 confirmed last month. The Westlake, Texas-headquartered firm already offers crypto investments through exchange-traded funds (ETFs) and futures trading. — Jamie Crawley Read more.JPMorgan (JPM) is preparing to launch a tokenized money market fund, the latest sign that major financial institutions and Wall Street asset managers are speeding up efforts to move traditional assets onto blockchain rails. A filing with the U.S. Securities and Exchange Commission SEC) outlined plans for a blockchain-based money-market fund investing exclusively in short-term U.S. Treasuries, cash and overnight repo agreements backed by government securities. The fund, dubbed JPMorgan OnChain Liquidity-Token Money Market Fund (JLTXX), will maintain blockchain-based token balances tied to investors' ownership records, allowing approved users to submit purchase, redemption and transfer requests through Ethereum, the filing said. The underlying blockchain infrastructure will be operated by Kinexys Digital Assets, JPMorgan’s blockchain unit formerly known as Onyx. — Kristzian Sandor Read more.Regulatory and PolicyThe legislation that could fully insert the U.S. crypto industry into the regulated financial system has emerged in its latest form, with the Senate Banking Committee unveiling the market structure bill's text just after midnight on Tuesday in advance of this week's hearing that's set to push the effort forward. The latest version wasn't expected to offer many surprises for the crypto industry that's already had a chance to dig through it privately, but it includes still-contentious language on stablecoin yield and it maintains legal protections for decentralized finance (DeFi) developers, keeping that corner of the crypto sector happy (so far). Industry insiders waited for the release late into the night, and they'll still have to study the language to ensure their expectations were met. "This bill reflects serious, good-faith work across the committee and delivers the certainty, safeguards, and accountability Americans deserve," committee Chairman Tim Scott said in a statement. "It puts consumers first, combats illicit finance, cracks down on criminals and foreign adversaries and keeps the future of finance here in the United States." — Jesse Hamilton Read more.The Senate confirmed Kevin Warsh to the Federal Reserve Board of Governors on Tuesday, moving President Donald Trump’s pick one step closer to becoming the next chair of the U.S. central bank. Lawmakers approved Warsh in a 51-45 vote. Sen. John Fetterman (D-Pa.) was the only Democrat to support the nomination. Warsh still must win a separate Senate vote to become Fed chair, which is expected Wednesday. Governors serve 14-year terms while the chair serves a four-year term. If confirmed as chair, Warsh, 56, will replace Jerome Powell, whose eight-year term leading the Fed ends Friday. Powell, however, has said he plans to remain on the board until a federal probe into renovations at the Fed’s headquarters concludes. — Helene Braun Read more.Calendar

June 2-3, 2026: Proof of Talk, ParisJune 4, 2026: Stable Summit, New YorkJune 8-10, 2026: ETHConf, New YorkSept. 29-Oct.1, 2026: Korea Blockchain Week, SeoulOct. 7-8, 2026: Token2049, SingaporeNov. 3-6, 2026: Devcon, MumbaiNov. 15-17, 2026: Solana Breakpoint, LondonRelated Assets

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In a recent proposal, Lido introduced an automated buyback mechanism. It would use LDO and wstETH liquidity to form a Uniswap v2-style liquidity pool. It will be managed by the Aragon Agent. If approved, the plan could launch as early as Q1 2026. The goal is simple but powerful: remove LDO tokens from circulation through automated buybacks while improving on-chain liquidity. This would make LDO more useful across decentralized finance (DeFi) platforms, giving token holders more confidence and long-term value.

How the Buyback Mechanism Works In traditional finance, companies buy back their own stock to reduce supply and increase value. Lido’s proposal brings a similar idea on-chain. Instead of purchasing shares, the DAO would buy its own LDO tokens using revenue generated from staking rewards. The tokens would then be paired with wrapped staked ETH (wstETH) in a liquidity pool, improving trading depth while gradually removing LDO from the open market.

The system activates only under certain conditions. For instance, buybacks would occur when ETH trades above $3,000 and Lido’s annual revenue exceeds $40 million. The program would use up to 50% of staking inflows above that threshold, with a limit of $10 million per year to prevent excessive spending.

A proposal to implement an automated LDO buyback mechanism is now live on the Lido DAO Forum.

Opinions regarding mechanism, proposed parameters and more are welcome.https://t.co/Hve7cS405J

— Lido (@LidoFinance) November 11, 2025

This setup is anti-cyclical, meaning it responds to market performance. When ETH prices and revenues rise, buybacks increase, supporting token value. In bear markets, the system slows down or pauses, preserving DAO funds. This approach mirrors treasury strategies seen in protocols like MakerDAO’s Smart Burn Engine, which also automates buybacks based on market conditions.

More About Lido Lido DAO has unveiled stRATEGY, a new product that makes earning DeFi rewards easier and more automated. Built on Mellow Protocol’s Core Vaults, stRATEGY lets users deposit ETH, WETH, or wstETH just once and automatically distributes those funds across trusted platforms like Aave, Ethena, and Uniswap. The system continually rebalances to maximize rewards, simplifying what used to be a complex process.

Introducing stRATEGY

Curated DeFi rewards centered around stETH

Aave, Ethena, Uniswap & more

↓ pic.twitter.com/iXonyJCLhF

— Lido (@LidoFinance) November 6, 2025

In exchange, users receive strETH, a token that accrues both DeFi yields and Mellow points for added incentives. At any time, strETH can be swapped back into wstETH, giving users full flexibility. With stRATEGY, Lido DAO aims to make DeFi participation more accessible while focusing on reliable, battle-tested integrations that optimize returns.

Disclaimer The information provided by Altcoin Buzz is not financial advice. It is intended solely for educational, entertainment, and informational purposes. Any opinions or strategies shared are those of the writer/reviewers, and their risk tolerance may differ from yours. We are not liable for any losses you may incur from investments related to the information given. Bitcoin and other cryptocurrencies are high-risk assets; therefore, conduct thorough due diligence. Copyright Altcoin Buzz Pte Ltd.

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The Cartesi Foundation, known for bridging software stack and blockchain, is reportedly all set to spend $500,000 on $CTSI purchase. $CTSI is the native token of the Cartesi ecosystem and purchase will take place through a series of open-market purchases. This move is designed to underline the Foundation’s long-term commitment to the development and sustainability of its decentralized infrastructure.

The Cartesi Foundation is reaffirming its long-term commitment to the ecosystem through a strategic open market purchase of at least $500,000 worth of $CTSI ⬇️ pic.twitter.com/W0EzzmaDcc

— Cartesi (@cartesiproject) April 8, 2025 The acquisition is subject to prevailing market conditions and will take place over a period of time. The Foundation says the purchases will be gradual and with no advance public announcement of exactly when or how much will be bought. The team adds that the acquired tokens will be added to the treasury of the Foundation for future development purposes.

Cartesi Strives for Broader Blockchain Adoption According to a statement from the Cartesi Foundation, this initiative fits within the foundation’s wider goal of facilitating ecosystem growth and pushing for the uptake of its decentralized infrastructure. The Foundation has chosen to allocate treasury resources to buy $CTSI to increase confidence in its technological framework and indicate ongoing support for its development team.

The Foundation believes in having a strong treasury of $CTSI so that it has more flexibility in funding ongoing and future initiatives. For example, it provides support to developers building on the platform and helps to expand access to connected tools to bridge the gap between traditional software environments and blockchain applications.

Cartesi’s Role in Blockchain Development Cartesi acts as a Layer 2 platform that enables developers to develop scalable decentralized applications using familiar software tools and programming languages. By allowing development through Linux and popular coding languages, Cartesi aims to solve the challenges commonly encountered in blockchain programming.

The goal of the project’s infrastructure is to make it easier to develop faster and more broadly adopted by bringing in years of accumulated software advances. The underlying vision is to keep the ecosystem stable for the long term and to bring long-term decentralized computing to the masses in a safe and easy manner using scaling solutions.

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Crypto journalist with years of experience providing in-depth analysis and news on blockchain and decentralized finance. With a keen eye for detail, Shahzaib delivers insightful articles that explore the latest trends, market movements, and innovations within the crypto and blockchain ecosystem. His work focuses on educating readers while offering expert commentary on the evolving landscape of digital assets, DeFi protocols, and the broader impact of blockchain technology.

After the release of version 3.2.0 of the XRP Ledger core server software “xrpld,” the community has noted a number of issues. The update, which was released on June 15, added performance enhancements, memory optimizations, and security improvements. The most important update was that it renamed the server software as “xrpld” from “rippled.”

Developers Report Bugs On XRP Ledger v3.2.0 The XRP Ledger update was supposed to be a performance improvement and a memory reduction. However, it has already caused some problems for some developers and memory usage concerns for some operators in the project’s GitHub repository.

One of the most significant reports was an operator of nodes who reported that “xrpld” version 3.2.0 had failed to sync with the network. The software continues to be in a “connected” server state and would not have downloaded any ledger data even though the same machine was able to sync when using version 3.1.3, the issue report states. The issue was posted on June 18 and is still pending.

Another bug report came in shortly after release saying that configuration files with inline comments might cause the server to crash when it tries to parse them, which was determined to be a “BadLexicalCast” error. The report indicated that it was the legacy configuration parser that did not succeed in removing comments from some areas containing single value, which resulted in unexpected failures.

The GitHub issue tracker also lists some open bug reports on XRP Ledger that were reported within a few days of the release. These include peer communication issues, resource charging rules, message parsing policies, message compression, consensus-related routing rules, and amendment processing. Project maintainers classified many of the issues as bugs and triaged them.

Other Flaws On The Network In addition to the synchronization and configuration parser problems, node operators detected other bugs in the main server software. XRP Ledger developers reported a transaction relay calculation flaw that can cause transactions to be under-relayed to peers.

Moreover, they spotted a resource charging mechanism that only tracks the highest fee and discards previous fees. It also includes a validator list distribution issue, which sends validator information only to inbound peers, excluding outbound peers.

They also flagged risks of unsigned integer overflow during ledger sequence validation. The XRP Ledger members also saw potential inconsistencies in routing flags for transactions and broken nodes’ ID for proposals linked to ephemeral keys.

Further, they highlighted holes in the logic of ledger tracking that can leave nodes in an unknown state for an indefinite period of time. Some of these have been classified as bugs and are still to be reviewed by maintainers.

The reports have come despite hopes that the June 15 upgrade would actually bring some real improvements in performance. Prior to the launch, community conversations had resounded with the expected 30% to 40% memory usage reduction along with other general code optimizations and fixes.

The XRP Ledger Foundation and its contributors are ongoing with reviewing reported issues via the open source development process. There are no reported bugs that cause network-wide disruption as of this writing, and the issue or issues are still being investigated on their project’s GitHub repository. Currently, 26% nodes have been upgraded on the network.

For those looking for decentralized futures trading, visit our page on Perp DEXs.

A former Ethereum Foundation contributor has raised alarms about a possible shortfall in support for the network’s foundational development efforts, warning that it could materialize within the next three to nine months. Trent Van Epps, who spent five years at the Foundation until April 2026 coordinating core protocol activities and related funding initiatives, outlined these concerns in a detailed essay published on June 18, 2026.

Van Epps described the situation as a “slow-burning funding crisis” rather than an abrupt cliff.

He pointed to two primary pressures: the recent conclusion of a multi-year client support program and ongoing adjustments to the Foundation’s treasury management strategy.

The Client Incentive Program, which had channeled resources to teams maintaining Ethereum’s execution and consensus clients over four years, wrapped up in April 2026 without a designated successor mechanism in place.

At the same time, the Foundation has been reducing its annual spending rate.

A treasury plan announced in 2025 set a glide path toward lowering outflows from roughly 15 percent of assets per year down to a more sustainable 5 percent endowment-style baseline by 2030.

This shift aims to preserve long-term solvency after years of using treasury holdings to bootstrap the broader ecosystem.

Van Epps estimated that maintaining adequate capacity across more than ten client teams, research groups, and coordination roles requires consistent annual funding in the range of $30 million.

He noted that current and near-term sources for this level of support appear increasingly limited, based on conversations across the core development community.

Without steady resources, he warned of risks including the departure of experienced contributors who hold deep institutional knowledge, delays in tackling complex challenges such as scalability improvements and future-proofing measures, and potential impacts on the network’s track record of reliability.

The former contributor situated the warning within the Foundation’s long-standing “subtraction” philosophy.

This approach deliberately seeks to limit organizational growth inside the Foundation itself and instead encourage value creation and responsibility across the wider Ethereum ecosystem.

While intended to promote decentralization and maturity, Van Epps argued that executing this transition effectively requires proactive planning for new stewardship structures.

He referenced comments from Ethereum co-founder Vitalik Buterin, who has noted that the Foundation’s original scope—focused on early-stage software development through major upgrades—was largely completed years ago and was never designed as a permanent central authority.

Van Epps called for renewed discussion around updated social, political, and economic arrangements among stakeholders to support ongoing protocol maintenance through more scalable and neutral funding channels.

The concerns come amid reports of staff transitions at the Ethereum Foundation and broader debates about sustainable resourcing for public goods in the Ethereum ecosystem. Van Epps emphasized that underinvestment in continuity could prove costly to reverse if symptoms appear 12–18 months from now, and he urged collective attention to building durable mechanisms that match the project’s long-term goals and objectives.

Open Campus, a decentralized education initiative backed by Animoca Brands and Binance Labs, has launched EDU Chain, a layer 3 blockchain on Arbitrum Orbit, designed to power educational applications and cultivate a thriving dApp ecosystem, the team shared on Friday.

Introducing @educhain_xyz — the L3 for education.

Bringing the $5 trillion education industry and 1.4 billion students and educators worldwide onchain.

Our mainnet is now live❕

Learn how you can join the EDU Chain movement 👇 pic.twitter.com/U3Pl67TZU9

— Open Campus (@opencampus_xyz) January 17, 2025

As an EVM-compatible chain built on Orbit, the platform inherits Arbitrum One’s security and infrastructure, while also drawing on Ethereum’s security and liquidity, and operating as an independent network.

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EDU Chain features the Open Campus (OC) Achievement system (formerly Verifiable Credentials), enabling educational institutions and training centers to issue decentralized and tamper-proof academic records.

With OC Achievements, each learner has complete ownership and control over their own learning data, Yat Siu, co-founder and executive chairman of Animoca Brands, also a board member of the EDU Foundation, said in a statement to Cointelegraph.

More than 100 decentralized applications are currently being developed on EDU Chain, spanning trading, learning, gaming, and earning categories, the project stated.

The $EDU token serves as the utility token in the EDU Chain ecosystem. $EDU holders can bridge and stake their tokens on the mainnet to earn rewards, according to Open Campus. EDU Chain has allocated 150 million $EDU tokens, representing 15% of the total supply, for mainnet rewards distributed through EDULand NFTs over three years.

The debut follows a testnet campaign that saw impressive activity, with 86.2 million transactions and 358,684 active wallets. EDU Chain has achieved a total value locked (TVL) of $162 million, according to L2Beat.

To further expand its ecosystem, Open Campus is hosting a hackathon series with a $1 million prize pool and a 12-week OC Incubator program, offering mentorship, funding, and support to winning projects.

The platform also kicked off the “Yuzu: First Harvest” campaign, which enables mainnet users to earn rewards by interacting with EDU Chain dApps during the first season.

Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.

Post the fourth Bitcoin halving event last week, the mining rewards have reduced considerably by 50% putting a dent in miner revenues. However, payments giant PayPal has proposed a new incentive scheme for Bitcoin miners who are using low-carbon energy sources.

The goal is to make sustainable Bitcoin mining more economically attractive through this new rewards mechanism. In collaboration with Energy Web and DMG Blockchain Solutions, PayPal’s Blockchain Research Group proposed these “cryptoeconomic incentives” encouraging Bitcoin miners to use low-carbon energy sources.

PayPal believes that these experimental incentives would contribute to further discussion and innovation around Bitcoin. The proposal suggests granting “green keys” to the “green miners”, all linked to their public keys. All the Bitcoin transactions would later prioritize these miners providing lower fees and an extra locked BTC reward sent to a multisig payout address that will only be accessible to green miners.

“Green miners will be incentivized to mine these transactions since they will be the only ones eligible for the additional “locked” BTC reward,” it explained. As a result, profit-driven miners who operate with low-carbon sources will receive incentives in the form of extra BTC rewards.

Leveraging Energy Web’s “Green Proofs for Bitcoin” Platform As per PayPal’s proposed paper, the solution will leverage Energy Web’s “Green Proofs for Bitcoin” platform certifying miners based on their grid impact and clean energy source. The green miners can register to this platform by sharing their green keys, and thus participate in the incentives program.

Interestingly, PayPal BRG has successfully tested this proposed solution in partnership with Bitcoin miner, DMG Blockchain Solutions Inc. Throughout the test, it sent out numerous low-fee transactions to assess their performance across various levels of on-chain transaction activity. It noted that depending on the volume, these transactions could either face prolonged confirmation times or ultimately be discarded by the network. This scenario would heighten the likelihood of green miners processing these transactions.

Another approach here would be to involve private channels such as smart contracts or Lightning Network. However, the trade-off in this case is a more complex implementation. PayPal BRG concluded by stating:

“The solution outlined here aims to achieve a good degree of decentralization, ease of implementation and trust independence while distributing incentives.”

PayPal has been recently undertaking key initiatives in the crypto space such as releasing its PYUSD stablecoin as well as updating its NFT policy.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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Axelar has integrated Solana. The integration is now live on mainnet, enabling cross-chain message passing and asset transfers between Solana and Axelar-supported chains, including Ethereum, XRP Ledger, Sui, Stellar, Hedera, and 70+ more ecosystems.

Following recent integrations with Stellar and Hedera, Solana is the next major ecosystem connected to Axelar’s interoperability infrastructure. The integration expands Axelar’s support across different execution environments and gives developers, asset issuers, and protocols a secure and reliable way to connect Solana with the broader multichain world.

What the Integration EnablesSolana is one of the most vibrant blockchain ecosystems in Web3, with a growing application layer across DeFi, payments, tokenization, and consumer use cases. With Solana connected through Axelar, applications can combine Solana’s speed, low transaction costs, and active application ecosystem with Axelar’s interoperability infrastructure. The result is new optionality for applications that want to reach broader liquidity, expand user access across chains, and build multichain products that connect Solana with the wider ecosystems.

Ecosystem Partners Expanding to SolanaThe Solana integration launches with day-one ecosystem use cases that demonstrate how Axelar can help bring assets and applications into the Solana ecosystem.

Stronghold is a payments infrastructure platform that enables access to both legacy and next-generation financial services, with $SHx serving as its native utility token. Through Axelar's integration with Solana, Stronghold can now extend SHx reach to Solana and gain access to a broader ecosystem of users, builders, and liquidity opportunities beyond the Stellar ecosystem.

SaucerSwap is a leading decentralized exchange on Hedera, providing trading and liquidity infrastructure optimized for efficient execution and low fees. With Axelar connecting Solana, SaucerSwap can support assets from Solana and other connected blockchains and bring them into Hedera-based trading and liquidity pools. The integration also opens a new path for $SAUCE to extend beyond its native environment into the Solana ecosystem.

How to Access Solana Through AxelarSolana is now connected to Axelar and can be accessed through:

Axelar’s new bridging interface: Users can move assets to and from Solana directly through Axelar’s interface.Squid: Users and developers can access Solana through Squid, a cross-chain routing and liquidity layer built on Axelar that enables seamless asset transfers across ecosystems.Moreover, developers can now start building cross-chain applications with Solana: Send & receive messages across chains | Interchain Token Transfers | Full documentation

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PANews, June 20 — Cross-chain protocol Axelar Network issued a statement regarding a recent security incident, clarifying that there are misunderstandings within the community. The Axelar Network itself and the IBC protocol were not attacked or compromised, and the affected token smart contract was not developed, deployed, or maintained by Axelar Network. The exploited contract is a forked version based on the CW20-ICS20 implementation, but the developer removed two core security checks, resulting in an “infinite minting” vulnerability. By deleting the verification mechanisms originally designed to prevent such issues, the fork altered the contract’s original trust model and did not undergo a new security audit.

Axelar Network further explained that anyone can deploy contracts for cross-chain asset wrapping via IBC, and similar contracts are also used to wrap tokens from other chains onto Secret Network. This incident is not a unique logic flaw, nor is it a problem with the IBC protocol itself, but rather a security risk introduced by modifications to a third-party contract.

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January 7, 2025

Hyperliquid highlighted key milestones in 2024, including reaching $15 billion in daily trading volume and expanding its user base ninefold to 300,000 users.

According to a post by Hyper Foundation, the decentralized exchange attributed its rapid growth and ecosystem expansion to updates such as the HyperBFT consensus, HIP token standards, and staking features.

Hyperliquid’s Exponential Growth in 2024Hyperliquid experienced growth in 2024, with its 24-hour all-time high (ATH) trading volume climbing from $1 billion to $15 billion.

This major increase in trading activity was accompanied by growth in other metrics, highlighting Hyperliquid’s expanding market presence.

Hyperliquid started 2024 as a barely-known perp dex and ended the year as one of the largest decentralized financial hubs, processing billions in volume per day with a thriving ecosystem of builders, traders, and community members.

Thank you to everyone who came together for a… pic.twitter.com/GgmlsiW4mg

— Hyperliquid (@HyperliquidX) January 7, 2025 Open interest rose from $178 million to $4.3 billion, while total value locked (TVL) climbed from $56 million to $2.1 billion.

Additionally, the exchange’s user base expanded from 31,000 to 300,000, marking a ninefold rise.

Hyperliquid also supported 158 perpetual trading pairs and 128 native spot assets, generating over $3.5 million in daily revenue from trading fees and spot auctions.

These achievements were underpinned by the introduction of staking mechanisms and native token standards, including HIP-1 and HIP-2, which streamlined token usage across its platform.

Ecosystem Expansion Through New Features in 2024Throughout 2024, Hyperliquid launched new features and integrations that strengthened its ecosystem.

Third-party platforms, including Synapse, deBridge, and DEX Screener, bolstered interoperability and trading tools within Hyperliquid’s ecosystem.

Projects launched on Hyperliquid during the year included applications like HypurrScan, which allows users to analyze blockchain data, and HypurrFun, a platform for trading and creating meme coins.

Community-driven initiatives, such as Hyperliquid KR and HyperActive, further contributed to regional expansion and outreach efforts.

“All of this was achieved without taking any external funding and giving all trading fees to the community,” Hyper Foundation stated in its post. “Thank you to everyone who came together for a record-breaking 2024.”

Binance to support aelf network upgrade, temporarily halting deposits and withdrawals on Jan. 15, 2025.

In anticipation of a network update, Binance has announced that it will temporarily suspend token deposits and withdrawals on the aelf (ELF) network on Jan. 15, 2025, at 17:00 (UTC+8).

The purpose of this planned update is to enhance the overall user experience on the ELF blockchain. The upgrade is scheduled to occur at block height 252,256,057, and the process is expected to commence at approximately 18:00 UTC+8 on the same day. Block height refers to the position of a specific block within the blockchain, and the network upgrade will occur once the blockchain reaches this point.

Users will still be able to trade ELF tokens normally on the Binance platform during the network upgrade. However, deposit and withdrawal services will be temporarily unavailable while the upgrade is in progress.

To avoid any potential interruptions, Binance strongly advises users to deposit their ELF tokens in advance. Once the upgrade is complete and the network is stable, deposits and withdrawals will resume automatically without further notice.

ELF is a decentralized blockchain for cloud computing that aims to provide a scalable ecosystem. Its primary goal is to create a flexible blockchain capable of supporting various industries and applications.

At the time of writing, ELF is priced at $0.5016 with a market valuation of $369.18 million. The token’s $28.57 million in trading volume demonstrates a 34.36% drop in the past 24 hours.

Token upgrades refer to modifications made to a blockchain network’s core protocol or structure to improve its usability, security, or overall functionality. In this case, it is expected that the ELF network upgrade is expected to boost both performance and scalability, which are essential for the continued growth and success of the ecosystem.

Throughout 2024, Binance has actively supported network upgrades for several prominent tokens. In April 2024, Binance supported the Ethereum (ETH) Shanghai upgrade, a critical step in ETH’s transition to a more scalable and sustainable network, which allowed staked ETH to be withdrawn.

Binance also supported the Dash network upgrade and hard fork, which took place on January 7, 2025. This upgrade aimed to enhance the network’s security and performance. Additionally, Binance has announced its support for the Optimism network update, scheduled for January 10, 2025, which focuses on improving scalability and efficiency within the Optimism ecosystem.

As part of its ongoing commitment to enhancing the blockchain ecosystem and providing users with the best possible experience, Binance is dedicated to ensuring smooth transitions during these upgrades.

For more information about the ELF token upgrade, please refer to the official project announcement.

Updated Sep 11, 2025, 7:36 a.m. Published Sep 10, 2025, 6:09 p.m.

2 min read

Summary

Ethereum experienced a rare slashing event on Wednesday, with 39 validators penalized, according to blockchain explorer Beaconcha.in.The validators were tied to the SSV Network, a distributed validator technology (DVT) protocol that decentralizes staking infrastructure by splitting validator keys across multiple operators.Despite the scale of the incident, SSV founder Alon Muroch emphasized that the protocol itself was not compromised. Instead, the penalties stemmed from operator-side infrastructure issues involving third-party staking providers using SSV.Ethereum experienced a rare slashing event on Wednesday, with 39 validators penalized, according to blockchain explorer Beaconcha.in.

The validators were tied to the SSV Network, a distributed validator technology (DVT) protocol that decentralizes staking infrastructure by splitting validator keys across multiple operators.

Despite the scale of the incident, SSV founder Alon Muroch emphasized that the protocol itself was not compromised. Instead, the penalties stemmed from operator-side infrastructure issues involving third-party staking providers using SSV.

One cluster of slashed validators was tied to Ankr, a liquid staking provider. According to Muroch, routine maintenance on Ankr’s systems triggered the event. A second slashing involved a validator cluster that had migrated from Allnodes two months earlier. Investigators believe a secondary validator setup caused the duplicate signing that led to penalties.

In total, 39 validators were slashed, making this one of the largest correlated slashing events since Ethereum’s transition to proof-of-stake. Each validator slashed faces an immediate ETH penalty and could face inactivity leaks, compounded losses. One validator, backed by a 2,020 ETH stake, lost around 0.3 ETH, or about $1,300 at today’s prices, in the process.

While slashing is built into Ethereum’s design as a deterrent against malicious or negligent behavior, it remains exceedingly rare. Fewer than 500 validators out of more than 1.2 million active have been slashed since the Beacon Chain went live in 2020. Most incidents, including this one, have been traced to operator issues rather than deliberate attacks.

Mass slashings are particularly notable because correlated misbehavior increases the severity of penalties. Ethereum’s protocol enforces additional inactivity leaks when groups of validators are slashed together, amplifying the financial impact.

For Ethereum’s staking ecosystem, the latest wave underscores a familiar but critical lesson: validator safety hinges as much on infrastructure and operator diligence as on the protocol itself. Even when the underlying software is uncompromised, operational errors can have costly and very public consequences.

Read more: ‘Keep It Simple’: Prevent Your Eth 2.0 From Being Slashed

AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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 SSV Network, the leading distributed validator technology (DVT) provider on Ethereum, securing over 5.5M ETH, is set to undergo the biggest comprehensive upgrade in its history. The SSV DAO has unveiled a potential path for SSV Staking, a major upgrade that would fundamentally redesign how the network accounts for validator balances and collects fees. If approved, the proposal would introduce SSV Staking delegation and Effective Balance Oracles, integral to the network, and turn the SSV token into an ETH accrual token, allowing SSV stakers to receive ETH rewards accrued from network fees.

At the center of the proposal is a move away from SSV-denominated protocol fees toward a fully ETH-native accounting and reward model that reflects the reality of Ethereum’s validator economy. Validator rewards are earned in ETH, operator costs are priced in ETH, and post-Pectra validator balances can now scale up to 2,048 ETH per validator. SSV Staking is designed to align the protocol — and its token — with that reality. 

Introducing Effective Balance Oracles for post-Pectra accounting In parallel, supporting SSV staking and Ethereum’s post-Pectra validator model requires effective balance–aware accounting. Effective Balance Accounting ensures that fees, runway calculations, and liquidation logic scale with the actual stake secured by validators, rather than relying on “per-validator” accounting that has changed with validator consolidation – allowing a single validator to have a balance of 2048 ETH. 

Implementing this model natively requires the protocol to reflect validator effective balances on-chain throughout their lifecycle. To bridge the gap between Ethereum’s consensus layer and on-chain accounting, the protocol introduces Effective Balance Oracles that track validator balances and update the protocol state. 

Operating this oracle layer securely and resiliently is a core protocol function. Under SSV Staking, SSV holders would stake and delegate their tokens to support the selection and operation of oracle participants, aligning economic incentives with protocol security.

From Governance token to ETH accrual asset Under the proposal, SSV holders would be able to stake their tokens in a new staking contract and receive cSSV, a liquid ERC-20 token minted 1:1 to represent a staked position. While holding cSSV, participants would accrue a pro-rata share of ETH-denominated network fees, distributed through the protocol in proportion to staking participation.

Elad Gafni, SSV Foundation, said:

“cSSV is designed to represent more than a staked position; it represents participation.” Adding that: “SSV Staking is a mechanism for SSV holders to help operate and secure a core protocol function through delegation. This is a fundamental shift in how value flows through the network.”

Crucially, holding cSSV preserves full governance and voting rights, while enabling composability across DeFi as a liquid representation of staked SSV.

A new relationship between Ethereum infrastructure and SSV token holders SSV Staking goes beyond introducing yield. It is a full redesign of the network’s economic engine, connecting validator balances, ETH-denominated fees, oracle-backed accounting, and token incentives into a single system.

If approved by the DAO, SSV Staking would mark a shift from SSV as a governance and operator payment token toward an ETH accrual token, tightly coupled to the usage of one of Ethereum’s largest staking infrastructure providers.

About SSV Network SSV Network provides a distributed infrastructure designed to improve the fault tolerance, decentralization, and security of Ethereum validators through Distributed Validator Technology (DVT). SSV Network is the leading provider on Ethereum, securing over 5.5M ETH, worth an estimated ~$16 billion, across nearly 2,000 globally distributed node operators. 

Press contact:

Robert Drage [email protected] Disclaimer: TheNewsCrypto does not endorse any content on this page. The content depicted in this Press Release does not represent any investment advice. TheNewsCrypto recommends our readers to make decisions based on their own research. TheNewsCrypto is not accountable for any damage or loss related to content, products, or services stated in this Press Release.

Several states in the U.S. are already considering the idea of a strategic Bitcoin reserve as proponents await a push from Donald Trump on the federal level.

On the campaign trail for the November 2024 elections, now President-elect Donald Trump made several big promises to the crypto industry. Still, none has been as talked about following the election as his intention to launch a strategic U.S. Bitcoin reserve.

However, while pundits continue to debate the feasibility of such a move at the Federal level and its possible market impacts, some states may be looking to get in on the action.

U.S. States Consider the Orange Pill Following Donald Trump’s election victory, at least three U.S. states are considering building their own Bitcoin stockpile employing unique frameworks, as recently highlighted in a CNBC Crypto World report on Tuesday, December 24. Speaking with CNBC, Centrifuge General Counsel Eli Cohen asserted that the development was significantly positive for the crypto markets.

Pennsylvania  On November 12, barely a week after Trump’s announcement as the next U.S. president, Pennsylvania State Representative Mike Cabell proposed a bill to allow the state treasurer to invest state funds in Bitcoin.

House Bill 2664, or the Strategic Bitcoin Reserve Act, seeks to allow the treasurer to invest up to 10% of the State General Fund, the Rainy Day Fund, and the State Investment Fund in Bitcoin.

Cabell argues that implementing the bill would help protect state assets against inflation. He asserted that the state’s purchasing power had reduced by a staggering 20% in the past four years alone while Bitcoin continues to gain strength against the dollar.

So far, Pennsylvania’s Strategic Bitcoin Reserve Act has received only one co-sponsor, Representative Aaron Kaufer.

Texas On December 12, Texas State Representative Giovanni Capriglione proposed House Bill 1598, or the Texas Strategic Bitcoin Reserve Act, to allow the state to establish a Bitcoin reserve within its treasury.

Unlike Pennsylvania’s proposed bill allowing the treasurer to purchase Bitcoin with established state funds, the proposed Texas bill will establish the reserve by enabling residents to pay charges and taxes with Bitcoin. The stockpile will also be open to voluntary donations.

The Texas bill also details the establishment of cold storage and a holding period, noting that the state must not sell the reserve for at least five years.

Like Pennsylvania’s Cabell, Capriglione also argues that Bitcoin could act as an inflationary hedge preserving value for Texans.

On Tuesday, Centrifuge’s Eli Cohen told CNBC that Texas’ bill may face significant infrastructure hurdles and problems getting the crypto community to submit their wallet for taxes.

Ohio Ohio is the most recent to join the Bitcoin rush. On December 17, state Representative Derek Merrin submitted a proposal to allow the state to establish a Bitcoin stockpile.

House Bill 703, or Ohio’s Bitcoin Reserve Act, seeks to give the state treasurer the flexibility to invest in Bitcoin if they desire and build a reserve from seized assets.

Merrin hopes the bill will pave the way for quick legislation in 2025.

The recent state bills, like the proposed national effort, are all in their early stages, and it remains unclear if they can garner the needed support to become law. But till then, the ensuing speculation continues to drive excitement about Bitcoin and crypto.

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

The partnership, which also includes crypto asset manager Anemoy, aims to streamline the issuance and management of tokenized assets across blockchains.

Centrifuge, a top real-world asset (RWA) tokenization platform, announced a partnership with blockchain interoperability protocol Wormhole to launch a multichain platform that aims to improve how tokenized assets are issued and managed, according to a press release shared with The Defiant.

The collaboration also includes Anemoy, a web3-native asset manager built on Centrifuge. The new platform, Centrifuge V3, lets asset managers and investors handle tokenized assets across different blockchains.

“Wormhole's multichain interoperability platform plays a crucial role in supporting the scalability of Centrifuge V3 by enabling full chain abstraction, allowing seamless fund administration and investment across any blockchain network,” Jeroen Offerijns, the CTO of Centrifuge, told The Defiant.

Offerijns added that by integrating Wormhole, Centrifuge ensures liquidity flows smoothly across different blockchains, while assets can be easily used within both decentralized finance (DeFi) protocols and traditional institutional platforms.

Centrifuge currently boasts a total value locked (TVL) of around $136.6 million and a market capitalization of $5.7 million at press time, according to DeFiLlama data — making it the 15th largest RWA protocol by TVL.

The company has raised a total of $27 million across five funding rounds, raising $15 million in its most recent round, led by ParaFi and Greenfield.

Tackling tokenization challengesA major obstacle to the growth of tokenized assets is the fragmented infrastructure, Offerijns explained. He noted that asset managers often face a mix of tools and vendors, with no standardization, unclear legal structures, and high smart contract risks.

“Managing compliance, fund operations, issuance, and investor servicing onchain is still a daunting challenge,” Offerijns explained. “On top of that, chain fragmentation forces investors to navigate multiple networks, wallets, and interfaces — which adds unnecessary friction and risk to their experience.”

To address these issues, Centrifuge V3 offers customizable tokenization rails using a modular stack of pre-built, audited, and tested smart contracts. “These contracts cover everything from compliance to asset management, issuance, and day-to-day operations,” Offerijns said. “Managers can launch tokenized products quickly and confidently, without needing to build or audit new infrastructure.”

Moreover, all fund data and accounting will be managed on a single chain, offering unified and transparent data, which Offerijns called crucial for institutional reporting and governance, adding:

“Centrifuge V3 also integrates with liquidity providers in the ecosystem to offer instant and near-instant liquidity for tokenized products — addressing another key institutional concern: the ability to exit positions when needed."Jeroen OfferijnsThe future of RWAsTokenized assets are rapidly emerging as one of the fastest-growing sectors in DeFi. According to RWA.xyz, the total onchain value of tokenized RWAs has reached over $20 billion, an 11% increase in just the past month. Additionally, the number of asset holders has grown by almost 6%, bringing the total to 95,455 at press time.

“As the industry matures, we’re seeing a shift from purely crypto-native collateral to tokenized RWAs like U.S. Treasuries, private credit, and real estate — assets that provide stability, yield, and diversification,” Offerijns said, noting that stablecoins are also increasingly backed by RWAs.

He explained that RWA aggregators now function as onchain savings accounts, and lending protocols are facilitating borrowing and lending against these tokenized assets. “But for RWAs to truly power DeFi at scale, they must be accessible, high-quality, and ubiquitous,” Offerijns emphasized.

While Centrifuge V3 is currently building infrastructure that aims to make tokenized RWAs more accessible today, the company’s long-term vision extends beyond just putting funds on-chain.

“We believe blockchain won’t just serve as a distribution layer, it will become the foundation for global capital markets,” Offerijns said. “It will unlock cross-border capital flows, broaden access to investment opportunities, and improve end-to-end processes through automation and operational efficiencies.”

Toronto, Canada, December 15th, 2025, Chainwire

New capability enables confidential, audit-ready asset transfers on a public permissioned blockchain.

Polymesh, the public permissioned blockchain purpose-built for regulated assets, today announced the launch of Confidential Assets on the Polymesh DevNet. This new capability introduces private, fully auditable settlement flows for real-world assets (RWAs), enabling institutions to conduct onchain activity without exposing sensitive positions, transaction sizes, or counterparty information.

The launch of Confidential Assets allows institutional participants to move RWA workflows onchain while keeping participant identities, balances, and transfer amounts confidential, with controlled visibility for auditors and regulators.

Confidential Assets are powered by P-DART, a protocol developed by Polymesh Labs in collaboration with researchers at the University of Edinburgh. The system encrypts key elements of a transaction – including identity, amounts, and asset identifiers – while maintaining verifiability and settlement finality. The approach allows issuers to appoint auditors who can decrypt activity when required for regulatory, legal, or operational reasons.

Institutions have historically faced a trade-off between staying in private, siloed environments to preserve confidentiality or operating on public chains that introduce transparency incompatible with market workflows. Confidential Assets are designed to remove this tension by combining privacy with enforcement and oversight on a public permissioned network.

Key Capabilities

Encrypted balances, amounts, and identities, preserving confidentiality for market participants. Designated auditor access, enabling regulated entities to view transaction details for reporting or dispute resolution. Non-interactive confidential transfers, supporting asynchronous workflows used in institutional settings. Issuer-led force transfer support, allowing corrections related to errors, legal actions, or key loss within appropriate frameworks. Multi-asset atomic settlement, enabling confidential multi-leg transactions to settle simultaneously. The DevNet release provides a dedicated environment for developers and market operators to test confidential settlement workflows ahead of future testnet and mainnet deployments without impacting broader network stability. The environment is suited for prototyping confidential OTC workflows, private asset issuance, fund operations, block trades, and other regulated market structures.

Confidential Assets are available now on the Polymesh DevNet for developers, custodians, tokenisation platforms, and market operators evaluating confidential settlement workflows ahead of future network rollouts. To access the DevNet, users can go to https://devnet-confidential.polymesh.dev/.

About Polymesh Labs

Polymesh Labs is dedicated to the growth of the Polymesh ecosystem through Polymesh and Polymesh Private. Polymesh is a leading public permissioned blockchain purpose-built for real-world assets that streamlines capital markets and opens the door to new financial products. Polymesh Private is a private permissioned instance of Polymesh that can be deployed by enterprises.

Users can visit polymesh.network to learn more.