Category: crypto

Crypto security concerns have risen as OpenZeppelin co-founder advised friends and family to exit all DeFi positions, including major lending protocols like Aave, MakerDAO, and Compound. DeFi hacks in April led to $630 million in losses, with vulnerabilities in protocols like Drift and Kelp DAO being exploited. The industry faces ongoing security risks.

China’s top court officials are looking into creating judicial rules for cryptocurrency-related disputes, focusing on virtual currencies and cross-border finance cases. While mainland China continues its crypto ban, Hong Kong is moving forward with stablecoin licensing and virtual asset regulations. Regulators have expanded restrictions on offshore yuan stablecoins and tokenized assets.

South Korea’s domestic crypto trading activity has fallen to 8% of the country’s stock market trading volume in May. This decline is a reversal from December 2024 when crypto trading exceeded stock trading. The decrease is attributed to weaker local demand and stricter regulations on crypto investors and exchanges.

THORChain is still working to bring the network back online after the May 15 incident. Nodes have approved ADR028 for a staged restart after the exploit, with a hacker bounty now active. Developers are preparing for v3.19.0 testing, while security audit is ongoing. The focus is on restoring the network safely.

Bubblemaps estimates that a Hyperliquid whale linked to former BitForex CEO Garrett Jin would have been up $70 million if he never traded Ethereum. However, after catastrophic ETH longs, the trader is now down $128 million overall. The trader made $100 million shorting BTC in a flash crash. The trader is now back on Hyperliquid…

Ripple co-founder Chris Larsen’s XRP wallets have shown renewed activity ahead of Tuesday’s Texas Democratic primary runoff election. Larsen holds approximately 2.58 billion XRP across eight wallets, making his holdings one of the largest individual XRP positions. This activity follows significant transfers to exchanges in January 2025, drawing attention from the XRP community.

Fairshake-affiliated crypto PAC Protect Progress spent $5 million supporting Christian Menefee and $2.8 million opposing Al Green in a Texas congressional runoff. Menefee has high odds of winning, while Green’s anti-crypto stance made him a target. Fairshake’s $193 million war chest aims to influence congressional seats in contested districts.

Y Combinator co-founder Paul Graham criticized Senator Elizabeth Warren’s anti-crypto campaign as a mistake that hurt Democrats without stopping the industry’s growth. Warren’s actions alienated voters and donors, leading to her decision not to seek reelection in 2026. Graham also criticized former SEC Chair Gary Gensler’s approach as ineffective.

Ondo Finance founder Nathan Allman has passed away, leading to Ian De Bode becoming the new CEO. De Bode has been with the company for over two years and will continue the company’s mission. Ondo has experienced growth in the tokenized real-world asset market, expanding its offerings and partnerships.

Strategy did not purchase any Bitcoin between May 18 and May 24, focusing instead on buying bonds. BitMine also did not buy any Ethereum during this period. Despite this, four public companies bought 612 Bitcoin worth $47.5 million. Stablecoin liquidity decreased by $687 million, and DEX volumes also declined.