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…
Abu Dhabi-regulated tokenization firm KAIO said Monday it had raised $8 million in a strategic funding round backed by Tether and several other crypto and institutional investors, as it builds infrastructure to bring traditional funds onto blockchain rails. The round brings KAIO’s total funding to $19 million. New investors include Systemic Ventures, while Further Ventures…
BitMine Immersion Technologies (BMNR), the largest Ethereum-focused digital asset treasury firm, increased its crypto purchase pace as Chairman Tom Lee said he sees growing signs the crypto “mini-winter” is ending. The firm reported Monday it bought 101,627 ether (ETH) last week, the largest weekly haul since Dec. 15. The purchase, worth roughly over $230 million…
Crypto heads into the new week with its Friday rally on shakier ground. The announced reopening of the Strait of Hormuz sent oil lower and pushed risk assets higher, including bitcoin and the wider crypto market. The opening reversed on Saturday, with Iran firing at ships attempting to pass and the U.S. seizing an Iranian-flagged…
As bitcoin BTC$75,202.89 heads into this year’s flagship Bitcoin Conference in Las Vegas next week, traders will be watching for a familiar pattern, a potential “sell-the-news” event that has played out in previous years. The largest cryptocurrency is trading around $75,000, recovering from a local bottom of around $60,000 in early February after collapsing more…
The aftershocks of the Saturday’s KelpDAO hack are spreading through stablecoin markets in ways that were not immediately obvious. Int he first 24 hours post the attack, users on Aave borrowed approximately $300 million against their tether deposits of stablecoin tether USDT$1.0002 on the platform, according to Chaos Labs data. The borrowing spike isn’t a…
The decentralized finance (DeFi) ecosystem is experiencing a sharp capital outflow following the weekend exploit of the KelpDAO protocol. Leading DeFi lending platform Aave has lost $8.45 billion in deposits over the past 48 hours, driving a broader $13.21 billion decline in total value locked (TVL) across DeFi. TVL refers to the combined dollar value…
LayerZero has placed responsibility for the $290 million Kelp DAO exploit on Kelp’s own security configuration, saying the liquid restaking protocol ran a single-verifier setup that LayerZero had previously warned against. The attack used a novel vector targeting the infrastructure layer rather than any protocol code. Attackers, whom LayerZero attributed with preliminary confidence to North…
Bitcoin is absorbing the return of Middle East risk better than oil or equities. Bitcoin traded at $74,335 on Monday morning, down 1.6% over 24 hours but still up 4.8% on the week after the U.S. Navy seized an Iranian ship over the weekend and Tehran reimposed controls on the Strait of Hormuz. Ether slipped…
Total value locked on decentralized lending protocol Aave dropped by nearly $8 billion over the weekend after hackers behind the $293 million Kelp DAO exploit borrowed funds on Aave, leaving roughly $195 million in “bad debt” on the protocol and triggering withdrawals. Data from DeFiLlama shows that Aave’s TVL fell from about $26.4 billion to…
