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The bounty offer to recover stolen funds from Sui-based decentralized exchange (DEX) Cetus closely resembles a successful strategy used by a Solana project three years ago. It turns out that Cetus shares the same development team as Crema Finance, a Solana-based DeFi project that suffered a $9-million hack in 2022 but recovered most of the …
Continue reading “Twice lucky? Cetus’ recovery plan on Sui mirrors a Solana blueprint”
In this week’s episode of Byte-Sized Insight, on Decentralize with Cointelegraph, we break down a pivotal moment for US crypto legislation. In a 66–32 procedural vote on May 19, the US Senate advanced the GENIUS Act, a landmark bill aimed at establishing a comprehensive regulatory framework for stablecoins. Meanwhile, across the Capitol, Representative Tom Emmer …
Digital asset lender Ledn is transitioning to fully collateralized Bitcoin lending and discontinuing support for Ethereum, in moves designed to consolidate its BTC-focused business and further safeguard client assets against credit risks. In adopting a full custody structure for Bitcoin (BTC) loans, Ledn will no longer lend out client assets to generate interest, the company …
Continue reading “Ledn ditches ETH, shifts to full custody model for Bitcoin loans”
Spot Bitcoin exchange-traded funds (ETFs) in the United States are heading for a record-breaking month, helping push Bitcoin to new all-time highs amid rising institutional demand. The US-listed spot Bitcoin (BTC) ETFs recorded more than $1.5 billion in combined inflows over a two-day period, with $608 million on May 21 and $934 million on May …
Continue reading “US Bitcoin ETFs near record month after $1.5B inflows in 2 days”
Singapore-based artificial intelligence firm Genius Group has added more Bitcoin to its corporate treasury after being temporarily banned from doing so. In a May 22 announcement, Genius Group explained that it has resumed accumulating Bitcoin (BTC) following a favorable ruling by the US Court of Appeals. It follows Genius Group being temporarily barred from expanding …
Continue reading “Genius Group resumes Bitcoin buying after US court ruling”
Binance co-founder and former CEO Changpeng “CZ” Zhao has pushed back against a report in The Wall Street Journal, calling it a “hit piece” filled with inaccuracies and negative assumptions. In an X post, Zhao criticized the publication’s portrayal of his alleged involvement with World Liberty Financial, the decentralized finance project backed by a business …
Continue reading “CZ refutes claims in latest WSJ article on Trump-linked crypto dealings”
Cetus is offering a $6 million white hat bounty in an effort to recover $220 million in stolen digital assets, while emergency responses from the Sui Network have raised concerns about decentralization. Sui-native decentralized exchange (DEX) Cetus was exploited for over $220 million worth of cryptocurrency on May 22. However, Cetus managed to freeze $162 …
Continue reading “Cetus offers $6M bounty after $220M hack as Sui faces decentralization debate”
Hyperliquid, a decentralized perpetuals exchange operating on its own layer-1 blockchain, has submitted formal comments on 24/7 derivatives trading to the United States Commodity Futures Trading Commission (CFTC). In a May 23 X post, Hyperliquid Labs announced that it has “submitted two comment letters to the [CFTC] in response to its recent Requests for Comment …
Continue reading “Hyperliquid backs 24/7 crypto trading in CFTC comments submission”
Decentralized finance (DeFi) platforms have a major cost advantage over traditional banks when it comes to onboarding new users, according to Anton Bukov, co-founder of decentralized exchange (DEX) 1inch. Speaking at a panel during Dutch Blockchain Week on May 22 in Amsterdam, Bukov said traditional banks spend between $100 and $300 per user to verify …
Continue reading “DeFi near-zero onboarding costs can help 1.4B unbanked: 1inch co-founder”
Key points: Bitcoin buyer interest remains strong at all-time highs, contrasting with the first touch of $100,000 in 2024. The BTC price uptrend “may continue” as a result, CryptoQuant analysis concludes. Bitcoin short-term holders are firmly in the black in a further potential bull market boost. Bitcoin (BTC) buyers remain dominant on exchanges as all-time …
Continue reading “Bitcoin buyer dominance at $111K suggests 'another wave' of gains”
