Author: John Smith

DxSale has suffered a $7.3 million exploit after an attacker allegedly used a hidden backdoor in a liquidity locker contract to withdraw BNB locked by more than 1,400 liquidity providers on the BNB Chain. Summary DxSale lost $7.3 million in a BNB Chain exploit affecting roughly 1,400 liquidity providers. Researchers linked the attack to a hidden contract backdoor and a previously undisclosed ownership transfer. The incident follows a wave of DeFi exploits, with protocols losing $52 million to hacks so far in May. According to blockchain security firm PeckShield, the attacker-controlled address “0xC457” moved approximately $1.87 million worth of BNB…

South Korea’s Digital Asset Exchange Alliance has introduced a new API key standard for local crypto exchanges. The move targets improper API key sharing and possible market abuse. Summary DAXA will now force suspicious API keys to expire after warnings, monitoring, and user checks. FSS said API-based trading accounts for around 30% of South Korea’s domestic crypto market turnover. Upbit, Bithumb, Coinone, Korbit, and Gopax will now add stricter monitoring and IP whitelist systems. The rule comes as regulators watch automated crypto trading more closely. The Financial Supervisory Service said API-based trading now makes up about 30% of domestic crypto…

U.S. Treasury Secretary Scott Bessent has reaffirmed that the Trump administration will not support a CBDC while urging lawmakers to advance legislation designed to bring digital asset activity under a clearer regulatory framework. Summary Treasury Secretary Scott Bessent said the Trump administration will not allow a U.S. central bank digital currency and wants digital asset activity brought onshore. Bessent urged Congress to pass the CLARITY Act, arguing that clear rules are needed as the digital asset industry continues to grow. Republican lawmakers are also pushing legislation and amendments that would permanently block the Federal Reserve from issuing a CBDC. According…

Trezor has launched a Morpho integration that lets users earn yield on USDC and USDT inside Trezor Suite. Summary Trezor Suite now offers native USDC and USDT yield through two Morpho vaults curated by Steakhouse Financial. Yield comes from borrowing demand on Morpho, not token incentive programs. Deposits, withdrawals and reward claims are signed directly on the Trezor hardware wallet. Hardware wallet maker Trezor has launched a native stablecoin yield feature inside Trezor Suite. The product runs through a Morpho integration that lets users earn on USDC and USDT without leaving the app. The move signals how custody providers are…

Kalshi has sued Minnesota to block the state’s prediction market ban set to take effect on August 1. Summary Kalshi filed a federal lawsuit against Minnesota over its new prediction market ban law. The company argues the Commodity Exchange Act gives the CFTC exclusive jurisdiction over event contracts. Minnesota’s law would make operating a prediction market a felony from August 1. Kalshi has filed a federal lawsuit against Minnesota to block the state’s new prediction market ban. The law would make running an event contract platform in the state a felony from August 1. The suit escalates a national fight…

The Digital Chamber is leading a coalition of crypto firms pressing the Senate to pass the CLARITY Act. Summary The Digital Chamber is leading more than 100 crypto firms urging Senate passage of the CLARITY Act. The coalition wants action before the Senate’s summer recess to lock in regulatory clarity. The Senate Banking Committee already advanced the bill in a bipartisan 15-9 vote on May 14. The Digital Chamber has escalated a coalition push urging the US Senate to pass the CLARITY Act. The trade group is framing the bill as crypto’s last realistic window for federal market structure rules…

UniCredit director Elena Carletti has warned Europe may struggle to contain a crypto bank crisis under MiCA rules. Summary UniCredit’s Elena Carletti warned Europe lacks tools to backstop crypto-linked deposits the way US regulators did after SVB. MiCA pushes stablecoin issuers closer to banks but EU deposit insurance is capped at €100,000. Carletti cited Circle’s $3.3 billion stuck at SVB in 2023 as the model risk Europe has not solved. UniCredit deputy vice chair Elena Carletti has warned that Europe may struggle to contain a crypto-linked banking shock under MiCA. The Italian bank executive said EU tools are weaker than…

Bitcoin has slipped out of the world’s top 10 assets by market capitalization, with its value down to about $1.09 trillion as U.S. tech giants in the “Magnificent Seven” power higher. Summary CoinDesk says bitcoin’s market cap has fallen to $1.09 trillion, knocking it out of the global top‑10 asset ranking. Gold, silver and every member of the Magnificent Seven now sit ahead of bitcoin on the league table of global assets. The drop follows a period when bitcoin had previously ranked as high as the fifth‑largest asset worldwide at over $2 trillion. Bitcoin’s (BTC) slide down the asset leaderboard…

Groq is raising up to $650 million from existing investors to fund a new “Groq2” entity, just months after inking a $20 billion licensing and asset deal with Nvidia that effectively rewired the AI chipmaker’s future. Summary Groq seeks up to $650m to build AI “neoclouds” after Nvidia tie-up. Nvidia’s $20b Groq agreement leaves cloud business and IP in Groq’s hands. New Groq2 unit will pivot away from chip manufacturing toward AI infrastructure services. Groq Inc. is raising as much as $650 million from its current backers to capitalize a new company that will focus on building AI “neoclouds,” following…

Prediction market Myriad has launched a World Cup contest with a $100,000 prize pool ahead of the 2026 tournament Summary Myriad opened a trading contest tied to the 2026 World Cup, with $100,000 split between top traders and makers. The platform launched with over 75 multi-binary markets covering every match in the tournament. President Farokh Sarmad says the event showcases how prediction markets work around global sports. Prediction market Myriad has opened a trading competition built around football’s 2026 World Cup, putting $100,000 on the line. The contest runs in collaboration with layer-1 blockchain D.Energy. The launch lands as prediction…