Category DeFI

Bitcoin has recently surged to test the $76,000 mark, prompting a significant shift in funding rates that have reached their highest levels this year. Negative funding rates indicate that short sellers are increasingly paying long holders, reflecting a growing bearish sentiment among traders despite Bitcoin's price rally. This phenomenon suggests a potential market correction as investors react to the volatility and uncertainty surrounding crypto assets. Analysts are closely monitoring these trends, as they could signal a pivotal moment for Bitcoin and the broader cryptocurrency market. The interplay between rising prices and negative funding rates raises questions about the sustainability of this bullish momentum.

Circle, the issuer of the USDC stablecoin, is facing a class-action lawsuit following a significant hack of the Drift Protocol, which resulted in a loss of approximately $285 million. The lawsuit, filed by affected investors, alleges negligence and seeks accountability for the security failures that led to the breach. As the crypto industry grapples with increasing security challenges, this incident underscores the vulnerabilities inherent in decentralized finance platforms. Circle's response and the outcome of the lawsuit could have broader implications for regulatory scrutiny and investor trust in the rapidly evolving digital currency landscape.

Cardano founder Charles Hoskinson says “it’s not possible” to save all vulnerable Bitcoin from quantum computing under the current proposal. Source: Decrypt

The Ethereum Foundation reported that a six-month program helped expose around 100 DPRK IT workers across 53 crypto projects. Source: Decrypt

OpenAI’s Codex desktop app now controls your Mac, runs its own browser, and generates images. The update pushes Codex further into territory occupied by Claude Code and OpenClaw. Source: Decrypt

Russian crypto exchange Grinex paused trading services after a $13 million exploit it says was conducted by “foreign special services.” Source: Decrypt

The United States government has rapidly adopted AI tools in recent years, but skepticism towards both AI and agencies alike is only growing. Source: Decrypt

Two linked wallets flawlessly bet on several pardons made by former President Joe Biden during his final minutes in office. Source: Decrypt

Two months after a New York federal judge ruled AI conversations can be seized by prosecutors, more than a dozen major law firms have issued warnings to clients. Source: Decrypt

Reform UK leader Nigel Farage announced his backing of the company following its relaunch under the Stack BTC name in March. Source: Decrypt