The attack on Drift Protocol was not a hack in the traditional sense. Nobody found a bug or cracked a private key. There wasn’t a flash loan exploit or manipulated oracle either. Instead, an attacker used a legitimate Solana feature, ‘durable nonces,’ to trick Drift’s security council into pre-approving transactions that would be executed weeks…
Social media platform X is preparing a new security measure aimed at shutting down a widespread form of crypto phishing that leverages hijacked accounts to promote scam tokens. The company will soon auto-lock any account that mentions cryptocurrency for the first time in its history, according to the company’s Head of Product Nikita Bier. Users…
President Donald Trump’s renewed aggressive posturing toward Iran has pushed bitcoin lower by roughly 2% over the past 24 hours to $67,000. While this price action is consistent with routine volatility, beneath the surface, market structure looks fragile. This is mainly due to flows in the Deribit-listed options market, specifically, a build-up of defensive positioning…
The U.S. Commodity Futures Trading Commission and Department of Justice filed lawsuit against Illinois, Arizona, Connecticut and various state officials on Thursday over the state’s efforts to shutter prediction market providers. Illinois, alongside numerous other states, sent cease-and-desist letters to some prediction market providers, arguing that the companies were offering sports gambling products that should…
Coinbase (COIN) said Thursday it had received initial approval for a national trust company charter from the U.S. Office of the Comptroller of the Currency, Bloomberg reported, marking a step toward it operating as a federally regulated crypto custodian. The approval is not final. It is a conditional green light that sets out requirements Coinbase…
The Nasdaq mostly erased an early 2% loss Thursday after reports that Iran is drafting a protocol with Oman to manage traffic through the Strait of Hormuz, easing concerns about disruptions to a key global oil route. WTI crude oil — which had surged to nearly $115 per barrel as President Trump vowed to continue…
The two things most cryptocurrency investors are pondering are how much lower can bitcoin BTC$65,984.09 go and how much longer this bear market could last. The price pain aspect has been discussed widely, but the time-based dimension is another question in itself. Price pain refers to sharp drawdowns or volatility that force participants out of…
SoFi said Thursday it is launching a new business banking platform designed to let companies handle both traditional money and crypto in one place, as it pushes deeper into digital assets. The service, called SoFi Big Business Banking, allows firms to hold U.S. dollars, convert them into stablecoins and move funds around the clock, all…
A U.S. enforcement case against alleged crypto market manipulation is once again putting the spotlight on wash trading and the blurry line between market makers and market manipulators. Federal prosecutors in California this week charged 10 individuals tied to firms including Gotbit, Vortex, Antier and Contrarian, accusing them of coordinating trades to inflate token prices…
Those who rushed into bitcoin BTC$66,459.24 over the past two years are now heading for the exits and it’s not a great sign for the market. Public companies, once seen as long-term holders, are increasingly selling bitcoin as prolonged price weakness weighs on balance sheets and strategic plans. Take Empery Digital (EMPD), which announced on…
