Work on global standards for stablecoins has slowed over the past year, raising concern among central bankers that gaps in oversight could split markets and amplify risk. Bank of England Governor Andrew Bailey, who chairs the Financial Stability Board, said progress on international rules has stalled, Reuters reported last week. That’s a concern, Bank for…
The popular Spiderman meme showing three identical superheroes pointing fingers at each other is having its crypto moment today. Kelp DAO is set to push back on LayerZero’s post-mortem of Sunday’s $290 million exploit, which essentially blames Kelp, a L2 source familiar with the matter told CoinDesk. Kelp plans to dispute the cross-chain messaging firm’s…
Bitcoin BTC$75,848.78 held above $76,000 on Monday, rebounding from overnight lows as the broader crypto market remained steady despite Iran war risks. The largest cryptocurrency climbed about 2.4% over the past 24 hours, recovering from a dip below $74,000 earlier in the session. Ether (ETH), XRP, Solana (SOL) and other major altcoins also mirrored bitcoin’s…
The Kelp DAO and LayerZero bridge exploit that occurred over the weekend has left lending protocol Aave facing potential losses of up to $230 million, depending on how the situation is resolved. The incident, according to a report from Aave Labs and service provider LlamaRisk published on the Aave governance forum, centers on rsETH, a…
Less than three weeks after North Korea-linked hackers used social engineering to hit crypto trading firm Drift, hackers tied to the nation appear to have pulled off another major exploit with Kelp. The attack on Kelp, a restaking protocol tied into LayerZero’s cross-chain infrastructure, suggests an evolution in how North Korea-linked hackers operate, not just…
Crypto adoption in the U.S. has staged a comeback, even as sentiment around prices remains cautious, according to German lender Deutsche Bank (DB). In a new retail survey spanning 3,400 consumers across the U.S., U.K. and EU, the bank said U.S. participation rebounded to 12% in March from a February low of 7%, returning to…
Blockchain sleuth ZachXBT wrote on Sunday that the team behind RaveDAO is at least aware of who manipulated the price of its token, which saw an impossible 11,000% surge in price followed by a near immediate collapse. “I found suspicious CEX (centralized crypto exchanges) activity on April 26 tied to RaveDAO team addresses onchain, which…
Global liquidity is set to deteriorate sharply, according to Russell Thompson, chief investment officer at crypto asset manager Hilbert Group (HILB), who said even a quick geopolitical resolution in Iran is unlikely to sustain a rally in risk assets without policy support. Liquidity conditions have stabilized in parts of the financial sector following the rollout…
Bitcoin and other risk assets have become increasingly sensitive to statements from U.S. President Donald Trump, with markets often swinging upward or downward within minutes of his social media posts or policy announcements to the news media. This has drawn scrutiny from lawmakers, academics and market experts, as questions mount over whether those price movements…
Reabold Resources, an investment company focused on developing European gas projects, said it is considering establishing a gas-powered bitcoin BTC$75,664.09 mining station in northern England. The London-based company is exploring the potential to deploy a small power plant as a pilot for future data-center developments that are “crucial to the future U.K. economy,” it said…
