Author: James Wilson
A new proposal on Balancer’s governance forum sets the stage for how the protocol plans to handle the next phase of its recovery effort. Summary Balancer has proposed a framework to distribute $8M in rescued assets after the V2 exploit. Whitehats would receive 10% bounties, while LP repayments would be pro-rata and paid in-kind. The Nov. 3 attack drained over $128M, prompting coordinated recoveries and community-wide mitigation efforts. Balancer has outlined a reimbursement plan that would return roughly $8 million in rescued assets to liquidity providers affected during the v2 exploit. The Nov. 27 proposal is the protocol’s first concrete…
Swiss crypto exchange-traded product provider Bitcoin Capital has launched a regulated ETP for the Solana-based meme coin BONK on Switzerland’s SIX Swiss Exchange, the company announced. Summary Bitcoin Capital has launched the first regulated exchange-traded product (ETP) for the Solana-based meme coin BONK. The product operates under Switzerland’s robust regulatory oversight. Bitcoin Capital plans to expand its BONK offerings, with the ETP structure designed to lock tokens and reduce circulating supply. The product marks the first regulated ETP for BONK in Europe, providing institutional and retail investors access to the meme coin through a traditional financial market structure. The BONK…
Bitcoin has recovered above a key resistance level following several days of selling pressure, though institutional selling from U.S.-based investors continues, according to market data. Summary After days of selling pressure, Bitcoin has rebounded above a key resistance level. The Coinbase Premium Index remains negative, signaling that US institutional investors are selling more aggressively than retail traders. Ongoing outflows from Bitcoin spot ETFs have been identified as a key factor behind the sustained institutional selling. The Coinbase Premium Index, which compares Bitcoin’s (BTC) price on Coinbase with Binance, remains in negative territory, according to analyst Darkfost. The metric indicates that…
Tokenized real-world assets are projected to reach $60 billion in 2026, according to a report released by blockchain oracle platform RedStone. Summary RedStone’s report predicts substantial growth in tokenized assets. The trend is fueled by rising institutional interest in private credit, tokenized Treasuries, and equities. Private credit is projected to represent 45-50% of the tokenized asset market by 2026. The market has experienced substantial growth since late 2023, with institutional interest increasing in on-chain private credit, tokenized Treasuries, and tokenized equities, the report stated. Private credit currently represents the largest category within the tokenized asset sector and is expected to…
Mitchell Demeter, CEO of Sonic Labs, explains what layer 1 blockchains need to do today to stay competitive. Summary Layer 1 networks used to compete on speed and transaction costs alone However, with an increased number of chains, the key is user and developer retention Sonic is rolling out several upgrades to reward token holders As block space becomes increasingly commoditized, blockchain projects are under pressure to prove they can deliver sustainable business models instead of short-term speculative narratives. In an interview with crypto.news, Demeter describes how Sonic is shifting its strategy toward builder stickiness and long-term value capture. Crypto.news:…
Sentiment, not fundamentals, influences crypto, according to Sygnum CIO Fabian Dori. Summary Macro shocks, not fundamentals, drove the crypto market crash Crypto markets have been overleveraged for a while, making a correction healthy Indicators, including the CME open interest, funding rates, and RSI, indicate worsening sentiment Crypto’s fourth-quarter sell-off has erased Bitcoin’s year-to-date gains and pushed the broader market into negative territory. Crypto bank Sygnum says the latest drawdown does not mark the end of the current cycle. In his latest briefing, Dori explained that the sharp liquidation wave that hit the crypto markets was driven by macro shocks, not…
XRP price is stuck in a deep bear market, a trend that may persist as key metrics in the ecosystem pull back. Summary XRP price has plunged by ~40% from its highest level this year. Some key XRP Ledger network stats have continued dropping. The token continues to form a series of lower lows and lower highs. Ripple (XRP) token dropped to $2.17 today, Nov. 27, down by over 40% from the year-to-date high. Its retreat has cost investors billions of dollars as its market capitalization moved from nearly $200 billion earlier this year to $131 billion today. Top XRP…
Prominent YouTuber Nuseir (Nas) Yassin spoke with crypto.news about how social media is shaping real life, with a bias toward the controversial. Summary Content creators are increasingly rewarded for controversial and extreme content Social media is shaping how we see the war in Gaza, both in Israel and abroad As social platforms increasingly reward outrage and extremes, creators are increasingly being forced to lean into it to get attention. This same dynamic is increasingly impacting real life, from investing, including altcoins, memecoins, and memestocks, to politics. To unpack how social media shapes current narratives, including some of the most controversial…
Kyrgyzstan has officially launched USDKG, a gold-backed stablecoin pegged 1:1 to the USD, with an initial issuance of $50 million, according to PR shared with crypto.news. Summary USDKG is pegged 1:1 to the U.S. dollar and fully backed by gold reserves. State-owned issuer aims to expand reserves to $500 million and later $2 billion. The project marks Central Asia’s first state-supervised, gold-backed digital currency. USDKG is built on the Tron blockchain and audited by ConsenSys Diligence, with future support planned for Ethereum. Tokens are issued by a state-owned company under the Ministry of Finance, OJSC Virtual Asset Issuer. However, it’s…
A new initiative by Cronos opens x402 PayTech Hackathon to $42,000 in prizes for developers building AI-native payment applications on its recently upgraded blockchain network. Summary $42,000 prize pool for AI-directed on-chain payment innovation Cronos infrastructure upgraded with 10X lower gas fees and sub-second block times Registration open on DoraHacks with builds running December through January Cronos has kicked off registrations for its x402 PayTech Hackathon, putting up a $42,000 pool for developers experimenting with AI-native payment rails on its blockchain stack. The program is looking for teams working on automated settlement flows, intelligent wallet tooling, and real‑world asset payment…