One of the most successful MEV bots in crypto, Jaredfromsubway.eth, has been drained for more than $7.5 million, with an attacker exploiting the bot’s automated systems, the same ones that have netted it hundreds of millions over the years. According to Blockaid, the incident on Saturday resulted from attacker-controlled contracts tricking Jaredfromsubway.eth’s automated MEV execution…
Digital asset company AllUnity is launching SEKAU, a Swedish krona-backed stablecoin issued under the European Union’s Markets in Crypto-Assets Regulation (MiCA). The new token operates as an e-money token under MiCA, according to a statement shared with Cointelegraph on Friday. It is backed by segregated Swedish krona reserves and targets institutional settlement and cross-border payments….
Goldman Sachs lowered its year-end gold forecast by $500 an ounce, citing expectations that the US Federal Reserve won’t cut interest rates this year. The revised target places gold at $4,900, down from earlier estimates of $5,400. It comes on the assumption that the next Fed cuts could be pushed to March 2027 and December…
Microtransactions below 0.01 Bitcoin (BTC) now account for roughly 80% of all daily transactions on the network, pushing transaction activity close to record highs despite weak price performance. The surge has pushed CryptoQuant’s Bitcoin “Network Activity Index” into positive territory for the first time since 2024, according to a Thursday report by the blockchain data…
Cryptocurrency traders are no longer using Bitcoin (BTC) profits to buy altcoins as they did in previous bull cycles, raising doubts about whether a broad “altseason” can return. Key takeaways: Bitcoin-to-altcoin rotation trend has collapsed to its weakest level since 2021. Altcoin capital is increasingly getting concentrated in fewer projects, delaying the altseason. Bitcoin-to-altcoin rotation…
Bitcoin (BTC) could reach its new “macro bottom” by September, as price action continues to surprise traders. Key points: Bitcoin may “front run” exchange order-book liquidity to produce a bear-market low between $50,000 and $60,000. A trader sees “complete disbelief” if price reverses with only a partial liquidity grab. “Aggressive” shorting from Binance traders returns…
Binance is allowed to provide crypto trading access to users in the Philippines through its arrangement with BlockShoals Technologies, but neither company is authorized to handle peso transfers or perform other activities regulated by the country’s central bank, according to legal adviser Marie Antonette Quiogue. Quiogue, head of legal at BlockShoals, told Cointelegraph in an…
In May, the European Commission opened a comment period, seeking feedback on regulations for the cryptocurrency and blockchain industries. The comment period will precede eventual revisions and additions to the Markets in Crypto Assets (MiCA) legislative framework. Some have already dubbed the expected new framework “MiCA 2.0.” Katie Harries, director and head of policy for…
Urbelis said he believes AI could eventually reshape the standard of care around smart contract development. Historically, teams could point to the cost and complexity of audits as a reason certain reviews were not performed. That argument becomes more difficult when sophisticated security analysis is available on demand. “A clean AI report will be seen…
May 26: The company confirmed it had used its cash reserve to finance the bond repurchase. The transaction had reduced the fund to $871 million. The buyback reduced that reserve to roughly six months of STRC dividend coverage. The company had previously said the plan was to maintain about 24 months of dividend coverage. STRC…
