Category: crypto

SharpLink is deploying $200 million in Ethereum tokens from its treasury to Linea, a zkEVM scaling network by Consensys. The move supports staking and restaking activities for services like verifiable AI. The partnership aims to build institutional capital markets tools, demonstrating a shift towards trustless infrastructure and efficient yield generation onchain.

Shares of American Bitcoin, linked to Trump, are up 20% for the week, nearing 4000 BTC. Despite Bitcoin’s high trading levels, treasury companies are accumulating. American Bitcoin recently acquired 1,414 BTC, totaling 3,865 BTC. The company’s market cap is $5.29 billion, but some traders are cautious about its valuation.

Polygon is teaming up with Manifold Trading, a quant firm, to enhance its DeFi ecosystem with data-driven liquidity and institutional-grade execution features. This partnership aims to attract institutional investors to the DeFi market by providing professional liquidity management and infrastructure upgrades to drive growth and efficiency across the Polygon ecosystem.

Trump Media is expanding into the prediction market sector with the launch of Truth Predict on Truth Social through a partnership with Crypto.com. This move comes as the Trump family’s crypto income surpasses $800 million in six months, signaling a shift away from traditional business ventures towards digital assets.

S&P has rated Michael Saylor’s Strategy Inc., a Bitcoin treasury company, with a B- junk credit rating. This marks the first-ever rating for a Bitcoin treasury-focused company. The rating reflects Strategy’s heavy concentration in Bitcoin, limited diversification, concerns about liquidity, and risk-adjusted capitalization. Despite vulnerabilities, S&P maintains a stable outlook.

dYdX proposes $462K compensation for users after Oct. 10 outage, with 27 verified claims paid from insurance fund due to rare technical bug. Incident caused chain halt during market volatility. Proposal aims to enhance confidence in DeFi governance. Incident underscores transparency and risks of decentralized systems compared to centralized exchanges.

Metaplanet plans to maximize its Bitcoin returns by implementing a large-scale share buyback program worth ¥75.4 billion (~$500 million). The program aims to raise BTC Yield and support valuation amid market volatility. It will be funded by a $500 million Bitcoin-backed credit facility for flexible execution.

The x402bridge protocol was hacked due to a leaked admin private key, resulting in over $17,000 worth of USDC being stolen from 200 users. The breach revealed vulnerabilities in the x402 mechanism, where excessive authorizations led to unauthorized transfers. GoPlus Security advised users to revoke authorizations and be cautious when approving transfers.

Streamex Corp. partners with Chainlink to ensure transparency and cross-chain functionality for its gold-backed stablecoin, GLDY. Chainlink’s Proof of Reserve guarantees the gold backing of GLDY can be verified on-chain. Similar integrations by Backed Finance and Crypto Finance show Chainlink’s role in verifying tokenization and bridging traditional finance with blockchain.

US Representative Ro Khanna plans to introduce a bill banning elected officials from owning cryptocurrencies after President Trump pardoned Binance founder Changpeng Zhao. Khanna called the pardon corrupt and illegal, alleging ties between the pardon and Zhao’s support of Trump’s crypto ventures. Lawmakers are criticizing Trump’s crypto connections and calling for restrictions.