A crypto user lost roughly $50 million in a single transaction on Thursday after executing a large token swap that triggered massive slippage. Blockchain data shows that the wallet attempted to swap $50,432,688 aEthUSDT – an interest-bearing token representing Tether’s USDT stablecoin deposited into the Aave decentralized lending protocol on the Ethereum network – for…
Holders of the $TRUMP token will have another opportunity to dine with the U.S. President after the company behind the token announced a “gala luncheon” with Donald Trump set for late next month. The luncheon, scheduled for April 25, comes just under a year after token holders were invited to a previous dinner with Trump….
OP Labs, the main developer firm supporting the Optimism ecosystem, has laid off 20 employees as part of an internal restructuring aimed at sharpening the organization’s strategic focus, according to a message shared by the group’s leadership. In a post on X, CEO of OP Labs Jing Wang said the decision followed internal discussions with…
An initiative to ban the U.S. Federal Reserve from issuing a government-run digital dollar has been approved in an overwhelmingly bipartisan 89-10 vote in the Senate, but it’s tucked inside a housing bill that may run into headwinds in the U.S. House of Representatives. The effort to outlaw a central bank digital currency (CBDC) has…
For more than a decade, the cryptocurrency industry has promised to reinvent money. Permissionless. Trustless. Borderless. Immune to the recurring failures of traditional finance. Yet, commonly cited estimates of global ownership all languish below 10% — and the proportion actually using crypto for payments and other tangible uses is likely even less. After billions in…
As oil surges past $100 amid escalating Middle East tensions, the question for the Bitcoin network and miners is not whether their power bills will rise, but whether Bitcoin’s price will fall. According to research from bitcoin mining software and services company Luxor’s Hashrate Index, the direct effect of oil price shocks on mining costs…
On-chain data from Glassnode shows that bitcoin holders across nearly all wallet cohorts have shifted back to aggressive selling amid persistent geopolitical tensions in the Middle East. The distribution is being led primarily by retail investors, who appear to be the main source of selling pressure. Glassnode’s Accumulation Trend Score, which measures whether different wallet…
Tether, the crypto firm behind the most popular stablecoin USDT, said Thursday it has invested in Ark Labs to bring programmable payments to the Bitcoin network. The backing formed part of a $5.2 million funding round for the startup. Ark Labs develops Arkade, a system that aims to allow faster transactions and application building on…
After the first wave of spot ether (ETH) exchange-traded funds launched without staking, BlackRock’s iShares Staked Ethereum Trust ETF (ETHB), one of the industry’s most anticipated versions, begins trading on Nasdaq on Thursday. The fund marks the asset manager’s third crypto ETF and the first from BlackRock to incorporate staking. ETHB will hold spot ether…
Around 7,000 bitcoin are estimated to have been purchased this week through Strategy’s (MSTR) perpetual preferred stock Stretch (STRC), underscoring how quickly the high yield instrument has become a key engine behind the company’s bitcoin accumulation. But the structure carries risks, according to Alexander Blume, chief executive officer of Two Prime, an SEC registered investment…
