Author: James Wilson

Drift Protocol, a major Solana-based DeFi exchange, has suffered a $285 million social engineering-driven exploit that weaponized a compromised administrator key rather than any code flaw. Summary Drift Protocol suffered a $285 million exploit on April 1, making it one of the largest DeFi hacks in Solana’s history, triggered by a compromised administrator key rather than a smart contract flaw. Solana Foundation Chair Lily Liu and CPO Vibhu Norby both confirmed via X that the attack vector was social engineering and operational security failures, not code-level vulnerabilities. SOL dropped 9% to an intraday low of $78.60 following the breach, with…

Solana price fell nearly 9% following a major exploit on its Drift Protocol DeFi platform that drained nearly $300 million in digital assets. Summary Solana price dropped about 9% after a $285 million exploit on Drift Protocol, one of the largest hacks in the network’s history. Broader market weakness tied to escalating U.S.–Iran tensions and rising oil prices added to selling pressure on SOL. Technical indicators signal continued downside risk, with key support at $75, while a move above $93 could invalidate the bearish setup. According to data from crypto.news, Solana (SOL) price fell 9% to an intraday low of…

AI-powered Genius Group has sold off its remaining Bitcoin holdings in the first quarter to pay down debt. Summary Genius Group sold its remaining Bitcoin in Q1 to repay debt, stepping back from its earlier commitment to hold the majority of reserves in BTC. The company reported a turnaround in performance, with revenue reaching $3.3 million and net profit at $2.7 million after a loss a year earlier. According to an April 1 press release, the company said it will “recommence building its Bitcoin Treasury when it believes market conditions are more favorable,” outlining that the exit is tied to…

A key figure allegedly behind the Huione network has been extradited to China, where he will face fraud and money laundering charges. Summary Li Xiong, linked to the Huione network, has been extradited from Cambodia to China to face fraud and money laundering charges. Authorities have tied Huione Group to a vast illicit marketplace that processed over $89 billion in crypto tied to scam operations across Asia. Despite U.S. enforcement actions, including FinCEN restrictions, the network has continued operating through new domains and active Telegram channels. A report from Hong Kong-based news outlet Ta Kung Wen Wei noted that Li…

The U.S. Treasury has proposed its first set of rules to implement the GENIUS Act and has opened a 60-day public comment period to define how stablecoin oversight can be handled at the state level. Summary U.S. Treasury has proposed initial rules under the GENIUS Act, opening a 60-day consultation to define when state oversight of stablecoins is permitted. Issuers with less than $10 billion in circulation may fall under state supervision if frameworks meet federal standards, with strict reserve, disclosure, and compliance requirements in place. Under the proposal, issuers with less than $10 billion in circulating stablecoins may operate…

Summary EthCC 2026 in Cannes has introduced a dedicated institutional forum, The Agora by Kaiko, drawing more than 60 speakers and around 600 participants from traditional finance and Web3. For the first time, firms like Bloomberg, S&P Global, BNP Paribas, Euroclear, Amundi, SG Forge and Tradeweb are on the official EthCC agenda to debate Ethereum’s market structure under Europe’s MiCA regime. With MiCA and new EU tax rules nearing full implementation, panellists argued that Ethereum’s future liquidity and depth will increasingly depend on institutional rails rather than purely on retail-driven DeFi. EthCC 2026 has shifted decisively from a builders’ retreat…

Paradigm is building a pro‑grade prediction market terminal, eyeing an internal MM unit and S&P‑style index product as Kalshi’s valuation jumps to $22B on surging volumes. Summary Paradigm is developing a professional-grade prediction market terminal targeting institutional traders and market makers. The firm is also exploring an internal market-making unit and an index product bundling multiple event markets, similar to the S&P 500. Paradigm, already a major backer of Kalshi, led a $1 billion round valuing the platform at $11 billion. Paradigm is building a dedicated prediction market trading terminal aimed squarely at professional traders and market makers, in one…

Ripple’s Digital Asset Accounts and Unified Treasury let corporates manage fiat, RLUSD, XRP and other tokens inside existing treasury systems, targeting on‑chain cash and stablecoin demand. Summary Ripple has launched Digital Asset Accounts and Unified Treasury, a crypto fund-management stack for corporate finance teams. The platform lets enterprises manage fiat, RLUSD and XRP alongside other digital assets within existing treasury workflows. The launch builds on Ripple’s acquisition of GTreasury and targets rising demand for on-chain cash and stablecoins in corporate treasury. Ripple has unveiled an enterprise-grade cryptocurrency fund-management system designed to let corporate finance teams manage fiat and digital assets…

SpaceX has reportedly filed confidential IPO papers with the SEC, eyeing a June 2026 listing at over $1.75T and up to $75B raised after its $1.25T xAI merger valuation. Summary Elon Musk’s SpaceX has reportedly submitted a confidential IPO registration to the SEC, targeting a valuation above $1.75 trillion and a June 2026 listing. The listing could raise as much as $75 billion, eclipsing Saudi Aramco’s $29.4 billion offering, the current record for funds raised in an IPO. SpaceX’s recent $1.25 trillion valuation following its acquisition of Musk’s AI venture xAI positions it as the world’s most valuable private company…

eToro has secured a New York BitLicense and money transmission license, reopening crypto trading to New Yorkers and extending its US coverage to 48 states after a 2024 SEC settlement. Summary eToro has secured both a New York BitLicense and a money transmission license, opening its crypto platform to residents of New York. The approvals mean eToro now offers cryptocurrency trading in 48 US states, following a $1.5 million settlement with the SEC in 2024. The company calls New York “the heart of the financial markets” and frames the move as a strategic milestone in its US expansion. Online brokerage…