The crypto market structure bill hasn’t made much public movement in a month. Although it is difficult to make a forecast on the bill, it is not difficult to see that the time for passage is running out. You’re reading State of Crypto, a CoinDesk newsletter that looks at the intersection of cryptocurrency and government. […]
Run out of time on Clarity: State of Crypto Read More »
Lending platform Aave has raised about $160 million, which it needs to cover the $200 million in bad debt left behind by the year’s biggest decentralized finance (DeFi) exploit, Arkham wrote on X Saturday. “AAVE has so far raised $160 million to cover the bad debt of the Kelp DAO Exploit on defiunited.eth,” the blockchain
The easiest takeaway after $290 million in leverage and a roughly $13 billion drop in DeFi’s total value is that decentralized finance is broken again. It’s probably also the lazy thing. The KelpDAO exploit over the weekend was serious. It appears to have started with a targeted attack on infrastructure used in LayerZero’s verification stack,
Why DeFi isn’t dead after the KelpDAO exploit Read More »
Freezes dormant bitcoin BTC$78,115.45 would trigger an immediate repricing and mark one of the world’s oldest cryptocurrencies’ worst trading days since its launch in 2009, proponents told CoinDesk. Bitcoin developers and crypto industry participants have debated for weeks whether to freeze dormant tokens to protect them from the risk of theft by quantum computers when
The biggest traders on Hyperliquid have built a long bitcoin BTC$78,048.38 position for two months and the price chart starts to break their way. Glassnode data shows whale positioning on Hyperliquid, the onchain perpetual futures exchange, flipped from net short to net long in early March and has held long since, with the size of
What’s next as Bitcoin (BTC) whales go long despite bearish bets piling up Read More »
The Green Beret arrested for betting on a classified US raid looked like a one-off scandal for the prediction markets. A new study suggests he may be a more worrying data point: an extreme example of the small group of informed traders who, as the soldier is accused of doing, actually move prices on the
Only 3% of retailers drive Polymarket’s accuracy, not volume, survey shows Read More »
Getting a Markets in Crypto Assets (MiCA) license to operate in Europe is great, but alone it will not be enough to make money, according to Ben Zhou, CEO of Bybit, one of the largest cryptocurrency trading platforms. MiCA does not cover the full range of products, such as derivatives and tokenized assets, needed to
Bybit CEO says companies need MiFID, EMI licenses for European profits Read More »
Coinbase (COIN) has quietly crossed a threshold that Wall Street would recognize immediately: it has, by its own definition, become the only full-service prime brokerage in crypto. John D’Agostino, head of strategy at Coinbase Institutional, said the definition of a prime broker still follows a familiar Wall Street checklist: trading, custody, funding, derivatives and cross-margining.
Treasury Secretary Scott Bessent declared in mid-April that the United States would not extend a waiver allowing the sale of Russian oil. Two days later, on a Friday night, the Treasury Department quietly issued another 30-day reprieve. Ukrainian President Volodymyr Zelensky condemned the apostasy, saying: “Every dollar paid for Russian oil is money for the
US Sanctions Zigzag in the New World of Economic Warfare Read More »
A 13-block chain reorganization on LTC$56.29 late Friday and Saturday, about 32 minutes of network activity was rolled back after hackers exploited a vulnerability in their Mimblewimble Extension Block (MWEB) protocol. The flaw had enabled a denial-of-service attack against large mining pools, allowing the invalid MWEB transactions to slip through nodes that were not updated
Litecoin’s 13-block reorg was not a zero-day, GitHub commit history shows otherwise Read More »
