BlackRock's cautious stance on expanding crypto ETFs beyond Bitcoin and Ethereum may slow broader market diversification and innovation.
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The team behind the DeFi protocol CrediX is suspected of an exit scam following a recent $4.5 million security breach. The team has reportedly “vanished” from the project’s official channels despite promising refunds, leaving customers empty-handed. Related Reading: Ethereum Breakout Is ‘Imminent’ Amid $3,850 Retest – Analyst Eyes $5,000 For This Quarter DeFi Protocol Suffers $4.5 Million Exploit On Friday, security firm CertiK reported that the DeFi lender CrediX’s team had disappeared following the platform’s recent exploit, leaving its website offline since the August 4 incident and suddenly deleting the official X account. For context, the Sonic-based DeFi lender suffered a security breach on Monday after a potential wallet compromise led to the theft of $4.5 million from the protocol’s liquidity pool. Blockchain security firm PeckShield explained that the alleged hack was due to a compromised admin account, which allowed the exploiter to abuse its BRIDGE role to mint unbacked acUSDC (Sonic USDC) tokens, borrow against them, and drain the pool, before bridging the assets from Sonic Network to Ethereum. Notably, SlowMist found that the CrediX multisig wallet added an attacker as an admin and bridge role via ACLManager six days before, which raised concerns among investors. The DeFi lender’s team acknowledged the incident on X, stating that they had disabled the website to prevent users from depositing. Later, the team informed its community that it had allegedly “reached successful parley with the exploiter, who agreed to return the funds within the next 24-48 hours.” According to the now-deleted post, posted on CrediX’s official Telegram account by a user, the attacker agreed to return the funds “in return for money fully paid by the credix treasury.” The team affirmed that they would airdrop the funds to the affected users’ addresses in “the respective timeframe.” CrediX Goes Dark The following day, the team addressed the exploit on Telegram, stating, “We are truly sorry for this devastating incident and the impact it may have on our community,” and affirmed that they would keep users updated on the next steps before disappearing and deactivating the official X account. On Thursday, the Sonic-based Stability DAO confirmed on its Discord server that CrediX had “gone dark and disappeared,” directly affecting the protocol’s users. The exploit affected Stability DAO’s Metavaults as the project had recently integrated with CrediX. In the message, the protocol announced that all the affected teams, including Sonic Labs, Euler, Beets, and Rines Protocol (Trevee), were in communication and actively working on “filing a formal legal report with the authorities in hopes of recovering lost funds.” Additionally, they have obtained information on two of the DeFi lender’s members, which would be added to the report alongside the rest of the evidence. “A full incident report will be shared with the community soon, outlining everything that happened and what steps are being taken,” the message vowed. Related Reading: Cardano (ADA) Targets $0.80 As Price Retests Key Level – Is An 85% Jump Ahead? This incident follows the alarming trend that has been developing this year. As reported by NewsBTC, crypto theft has surged this year, reaching a total loss of $2.7 billion in the first half of 2025. By the end of June, more value had been stolen year-to-date (YTD) than during the same period in 2022, suggesting that theft from crypto services and DeFi projects could potentially hit $4.3 billion by year’s end. Featured Image from Unsplash.com, Chart from TradingView.com
XRP surged more than 13% on Friday as the Ripple-SEC case came to a conclusive end.
Eric Trump warned to “stop betting” against Bitcoin and Ether as the price of Ether surpassed $4,000 for the first time in eight months.
The potential launch of a $1.5 billion crypto firm could significantly impact the DeFi landscape, attracting major tech and crypto investors.
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Coinbase has begun integrating DEX trading directly into its app via Base, expanding user access to millions of tokens compared to the current 300 listed assets, according to an Aug. 8 announcement. The feature allows select US customers, excluding those in New York State, to trade newly created Base-native assets within moments of their launch using […]
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NFT DApps drew slightly more active users than DeFi in July, even as DeFi liquidity hit a record $270B.
Though possibly not its first foray into crypto, Harvard’s reported stake in BlackRock's Bitcoin exchange-traded fund represented a significant investment.
The mainstream adoption of BlackRock’s iShares Bitcoin Trust (IBIT) has proliferated Ivy League Universities, led by Harvard and Brown, in the United States. According to a filing with the United States Securities and Exchange Commission (SEC), Harvard University doubled down on its IBIT holdings during the second quarter to around 1,906,000 shares of IBIT as …
Crypto projects captured $2.67 billion in investments last month and is equivalent to 85% of money raised during the entire second quarter. DefiLlama data shows that the funding amount in July is 6% larger than June, when crypto startups surpassed $2.5 billion by a small margin. Additionally, July was the second-largest month in funding, bested […]
The post Crypto attracts $2.67B in funding during July, bolstered by Pumpfun and stablecoin interest appeared first on CryptoSlate.
ChatGPT-5 users on social media platforms were critical of the update, and OpenAI CEO Sam Altman responded to the complaints, pledging improvements.
Court documents showed there was at least one 90-year-old, and some people had “set in stone” their opinions about the Tornado Cash co-founder’s criminal charges.
Harvard Management Co. (HMC) reported a position in BlackRock’s iShares Bitcoin Trust (IBIT) worth $116,666,260. According to a Form 13F filed with the US Securities and Exchange Commission (SEC) on August 8, HMC had 1,906,000 shares of IBIT as of June 30. Based on the values shown on the same page, the Bitcoin allocation represents […]
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On-chain analytics firm Santiment has pointed out how utility spikes on the XRP network tend to precede bullish price action in the asset’s price. XRP Network Activity Lit Up Before The Latest Price Surge In a new post on X, Santiment has discussed about some network activity-related indicators for XRP. The metrics in question are the Transaction Volume and Circulation. The first of these, the Transaction Volume, measures the total amount of the cryptocurrency that’s becoming involved in transfers on the blockchain every day. While this metric does provide a sense of overall activity occurring on the network, it may give a skewed picture of investor behavior. Related Reading: Dogecoin Is Right Where Past Bull Runs Have Taken Off: Analyst This is because of the fact that not all transfers being made on the chain represent true economic activity. Many of them involve the same part of the supply, constantly in motion due to repeat trades or internal shuffling. The second indicator, the Circulation, helps filter for these moves like these. This metric keeps track of the daily unique number of tokens being shifted on the XRP network. By ‘unique,’ what’s meant here is that no matter how many times a particular coin becomes involved in transfer activity on the blockchain, it still contributes just one unit toward the indicator’s value. Now, here is the chart shared by Santiment that shows the trends in both of these XRP metrics over the last few months: As displayed in the above graph, the XRP Transaction Volume saw a huge spike to $2.1 billion on August 1st. This 6-month high surge in the metric came as the asset’s price was going through a drawdown toward a low near $2.70. Alongside the rise in volume, the Circulation also registered a spike to 1.12 billion tokens, indicating that the transfer activity occurring on the network was organic. Since this burst of activity on the blockchain, the cryptocurrency has witnessed some recovery. From the chart, it’s visible that there have also been spikes in these indicators in the past that led into a price surge for the coin. “Utility spikes on the network consistently foreshadow price jumps,” notes the analytics firm. Related Reading: Bitcoin Short-Term Holders Are Capitulating—Will June Pattern Repeat? In some other news, XRP broke out of a triangular channel on Thursday, as analyst Ali Martinez explained in an X post. Generally, breakouts above a triangle’s upper level are considered to be bullish signals in technical analysis (TA). And indeed, as the pattern may have foreshadowed, the asset has ended up enjoying a surge since then. XRP Price At the time of writing, XRP is floating around $3.29, up more than 7% over the last 24 hours. Featured image from Dall-E, Santiment.net, charts from TradingView.com
Users say GPT-5 is slower, less engaging, and prone to errors despite OpenAI’s lofty promises.
Ripple’s stablecoin RLUSD grew 32.3% in supply between June and July, surpassing $600 million. This was the second most significant growth in supply among stablecoins with over $500 million in supply growth, lagging only Ethena Labs’ USDe, which grew 63.4% in the same period. RLUSD has been in a strong growth trend since May, nearly […]
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BlackRock Inc. (NYSE: BLK) has no immediate plans to file for a spot Solana (SOL) or XRP exchange-traded funds (ETFs). According to the company’s spokesperson, BlackRock is currently focused on growing its two crypto ETFs, including the iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA). Wall Street analysts believe that BlackRock could have already …
After failing to decisively break above the $120,000 level in mid-July, Bitcoin (BTC) could face further price corrections as whales continue to increase BTC inflows to the Binance crypto exchange. Is Bitcoin Losing Its Bullish Momentum? According to a recent CryptoQuant Quicktake post by contributor Arab Chain, fresh data from the Binance Whale-to-Exchange Flow indicator suggests that BTC may soon experience additional downside pressure. Related Reading: Bitcoin ETF Market Flashes Warning: IBIT Outflows Paired With Drop In Tron USDT Transfers The analyst noted that despite growing retail participation in the BTC market, persistently high whale inflows into Binance – combined with a declining Bitcoin price – signal that the market could be entering a technical correction phase. Arab Chain shared the following chart, where the purple zone shows that whale inflows to Binance remained consistently high throughout July and early August. At the same time, the drop in BTC price reflects a distribution pattern, where whales begin unloading BTC on exchanges following a sharp rally. Although there were no extreme spikes, whale inflows into Binance stayed elevated in the $4 billion to $5 billion range, indicating that these large holders are actively moving BTC onto the exchange – often a precursor to major sell-offs. The fact that these inflows remain high on Binance despite the drop in BTC price suggests that either whales are still selling their holdings on the exchange, or they are waiting for a price rebound to exit the market. Similarly, the light blue area in the chart shows a notable increase in retail inflows to Binance during late July and early August. Historically, such late-stage retail participation often marks the final phase of a bullish cycle, providing exit liquidity for whales. The analyst concluded: Despite the rise in retail participation, the market shows signs of internal weakness, with sustained whale inflows to Binance and loss of upward momentum. If this behavior continues, the market may be entering a medium-term correction phase. Investors Still Optimistic About BTC While signals suggest the current BTC rally may be overextended, some investors remain confident, employing strategies like Smart Dollar-Cost Averaging (DCA) to accumulate BTC in anticipation of further price gains. Related Reading: Bitcoin Holds Steady At $115,000, But Realized Price Data Warns Of Fragility Fellow CryptoQuant analyst Oinonen noted that while the recent pullback in BTC price may have raised concerns about further declines, the asset’s historical Q4 performance could propel it to a new all-time high of $200,000 by the end of 2025. After hitting a recent low around $111,800, BTC has recovered part of its losses and is now trading near $116,500. Still, some analysts caution investors against “excessive optimism.” At press time, BTC was trading at $116,501, up 0.2% over the past 24 hours. Featured image from Unsplash, charts from CryptoQuant and TradingView.com
A bullish regulatory tailwind is forming as the SEC clarifies its stance on crypto, liquid staking and tokenization — with institutional investors and IPOs responding in kind.
The position marks one of the largest known bitcoin allocations by a U.S. university endowment.
Over half of the 25 largest US banks are now weighing or rolling out crypto-related products. An Aug. 8 status chart shared by River that tracks the giants across two lanes, custody and trading. The snapshot shows multiple firms moving from “not yet” to “exploring,” “announced,” or restricted access for high-net-worth clients, indicating that digital […]
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A fresh debate in the crypto space has emerged over whether the cost of production significantly impacts the XRP price and the value of Bitcoin (BTC). Market expert CrediBULL Crypto has outlined how these costs influence XRP’s value compared to Bitcoin, concluding that both cryptocurrencies follow the same pricing formula. XRP Price Formula Mirrors That Of Bitcoin A recent discourse on X social media has reignited discussions on whether production costs play a decisive role in determining the prices of cryptocurrencies. CrediBULL Crypto weighed in, explaining that both Bitcoin and XRP follow the same fundamental pricing model, where the cost to produce, combined with speculative and utility value, determines the market price. Related Reading: XRP Price Crash Could Deepen As Bearish Formations Gather For Bitcoin, the analyst notes that the cost to mine, taking into account energy consumption and time, represents a significant portion of BTC’s market price. This production cost forms the “X” variable in the analyst’s pricing equation, with the remainder driven by speculative demand and utility. In contrast, CrediBULL Crypto highlights that XRP’s production cost is negligible, arguably near zero, meaning its market price is primarily driven by demand, adoption, and other speculative factors. Whether mined or premined, the analyst asserts that the market ultimately assigns a value above the production cost based on perceived utility and shifts in investor sentiment. CrediBULL Crypto’s statement comes in response to a recent clash between market expert BD and Robert Breedlove, a Bitcoin maximalist. In his post, Breedlove suggested that XRP’s “100% premined” status set it apart from Bitcoin, which he asserts is a 0% premined coin. The Bitcoin maximalist also warned investors of the potential consequences of this difference, subtly implying that XRP could be a scam token. BD countered, asserting that market demand, not production method, dictates price. He further emphasized that neither mining costs nor premined supply inherently determines a cryptocurrency’s long-term value. Demand Dictates Long-Term Survival Following CrediBULL Crypto’s statement, a community member argued that premined assets, like XRP, could carry higher risks, such as large-scale sell-offs or “rug pulls,” potentially driving their value to zero. They further suggested that BTC’s mined supply structure offers more protection against such scenarios. CrediBULL Crypto, however, pushed back, stating that production costs do not guarantee long-term survival or resilience. He noted that demand can disappear for any asset, regardless of whether it costs $5 or $100 to produce. He added that the same principle also applies to Bitcoin and XRP, which are respectively priced at $116,601 and $3.34, at the time of writing. Related Reading: Analyst Predicts Historical 90% XRP Crash Against Bitcoin, But This Will Happen First The analyst further pointed out that just because a commodity costs money to produce does not make it inherently valuable. Without sustained interest, even a high-cost-to-produce asset could collapse in value. To illustrate this point, the analyst compared it to investing substantial resources into digging a massive hole—a process requiring real effort but might hold no value if no one finds the hole useful. Featured image from Getty Images, chart from Tradingview.com
Ethereum (ETH) surged past the $4,000 mark on Aug. 8, hitting its highest level this year after a sustained market rally that saw it gain nearly 50% in the past month. Data from CryptoSlate shows the asset peaked at $4,047 during US trading hours. Notably, the last time ETH traded above $4,000 was in December […]
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Four state-level lawsuits against three celebrities and individuals tied to the EMAX token may proceed after a California judge’s ruling.
Sygnum and Amina banks have added SUI trading, custody and lending products for professional investors.
Coinbase Global Inc. (NASDAQ: COIN) users can now directly trade Base-native tokens with their balance. The new Coinbase feature was made possible through the strategic integration of the Coinbase App with decentralized exchanges (DEX) offering trading services for Base-native tokens. The strategic integration between the Coinbase App and DEX services will enable developers to get …
Donations to the embattled software developer increased after Wednesday’s partial verdict and the possibility of a retrial.
SharpLink Gaming has announced a $200 million capital raise aimed at expanding its Ethereum treasury. As ETH solidifies its role as programmable money and a yield-bearing asset through staking, SharpLink is betting big on its long-term potential. The raise positions the company among a rising class of corporates reshaping capital strategy around blockchain-native assets. Why SharpLink Is Going All-In On Ethereum In an X post, SharpLink Gaming shared an update stating that the company has secured $200 million capital raise through a direct offering priced at $19.50 per share, and has been backed by four global institutional investors. Related Reading: SharpLink Buys the Dip and Adds $100M-Worth of $ETH to its Treasury as $BEST Stands to Gain According to the company, the capital will be strategically deployed to expand its ETH treasury holdings. Upon full deployment, SharpLink expects its ETH reserves to exceed $2 billion, placing it among the most ETH-heavy corporate treasuries globally. The company focuses on accumulating ETH, staking ETH to earn sustainable on-chain yield, and consistently growing ETH-per-share for long-term shareholders. Ethereum is becoming the foundational layer of global finance infrastructure for tokenized assets, and SharpLink is built to capture that upside. According to the DuRtY_Crypto post, Vitalik Buterin recently pointed out that ETH treasuries are increasingly valuable, not just as a store of ETH, but as a different vehicle for people to have access to ETH. Instead of simply buying ETH and holding it, investors are turning to companies that hold and manage ETH treasuries. DuRtY_Crypto has outlined the irony that was unseen between the Bankless crew, who quickly celebrated the mainstream validation. The PulseChain Sacrifice Wallet has skyrocketed to become the 5th-largest ETH holder in crypto with 171,054 ETH. Before the funds rotated into ETH, the wallet was already commanding attention as the largest DAI holder across all chains. Thus, the expert has commended Richard Heart, the controversial figure behind PulseChain, for executing a strategic pivot that few saw coming. Ethereum Activity Heats Up As Transaction Volume Nears ATH While prominent figures are raising capital and increasing the ETH treasury’s value, CoinW has also revealed that Ethereum on-chain momentum is surging again. According to data from Etherscan, the network processed 1.87 million transactions on Aug 6th, nearing its all-time high of 1.96 million, which was set back in January 2024. Related Reading: Ethereum Bears Dominate Market Orders: -$418.8M Daily Net Taker Volume Signals Trouble Meanwhile, the validator queue data shows the ETH pOs exit queue has dropped significantly to 443,164 ETH, worth roughly $1.612 billion. Following the decline, the average exit wait time now sits at 7 days and 17 hours. With UK regulators officially lifting the ban on crypto exchange-traded notes (cETNs) for retail investors, as reported by CoinW, Ethereum’s performance may experience notable growth. This move signals a major policy shift toward embracing digital asset markets. Furthermore, it will allow individuals to engage in these risk-bearing financial products at their discretion, a move seen as aligning the UK more closely with the global crypto market. Featured image from Getty Images, chart from Tradingview.com
Nasdaq-listed Verb Technology has raised $558 million in a private placement to establish the first publicly listed company dedicated to holding Toncoin (TON) as a treasury reserve asset. The financing round, which was upsized and oversubscribed, was led by Kingsway Capital and drew participation from over 110 institutional and crypto-native investors. Notable backers include Vy […]
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The net gamma exposure of dealers in the Deribit-listed ether options market is negative between $4,000 and $4,400.