PiggyBank has closed a hedge tied to LAB after sharp price swings and deeply negative funding rates made the trade too costly to maintain. Summary PiggyBank closed the LAB short after volatility and negative funding breached its internal risk limits. The USDC vault faces a 15% drawdown, while SPYx and JitoSOL show smaller reported declines….
Humanity Protocol’s $31 million exploit has been linked to a genuine private key compromise rather than an insider theft scheme, according to a new assessment from on-chain investigator ZachXBT. Summary ZachXBT said new evidence supports Humanity Protocol’s claim that a private key compromise caused the $31 million exploit. The investigator said suspicious market making activity…
Morpho Association has raised $175 million in one of decentralized finance’s largest funding rounds. Summary Morpho raised $175 million from investors as institutional demand for onchain credit infrastructure expands globally. Morpho’s official announcement highlighted plans to expand its open credit network through deeper institutional integrations. Coinbase, Kraken, Anchorage and Galaxy already use Morpho across lending,…
Token of Power suffered an exploit on Tuesday that drained more than $1.5 million from its liquidity pool. On-chain firms Blockaid, PeckShield, and Cyvers flagged the incident in posts on X. Token of Power lost 944.2 WETH, worth about $1.58 million, from its TOP/WETH Balancer V1 pool. Blockaid described the incident as a governance-takeover attack,…
BitGo has opened access to Aave, Spark and Tesseract for eligible institutional clients through its integration with Narval. Summary BitGo lets eligible institutions access Aave, Spark and Tesseract while assets remain in qualified custody. Narval checks transaction details, approved contracts and policy rules before BitGo authorizes wallet signing requests. The launch expands regulated DeFi access…
The Hyperliquid Policy Center and Paradigm have asked the U.S. Treasury to narrow parts of its proposed anti-money laundering rules for stablecoin issuers. Summary Hyperliquid and Paradigm want secondary-market duties narrowed because issuers cannot identify every DeFi transaction participant. Treasury’s proposal requires stablecoin issuers to maintain AML programs and block transactions violating U.S. law. The…
Botanix Labs has announced the shutdown of its Bitcoin Layer 2 network after reporting 25 million transactions and 200,000 wallets during its year-long mainnet operation. The team said user demand was not sufficient to sustain the network economically. Summary Botanix Labs is shutting down its Bitcoin Layer 2 network after concluding that user activity could…
Curve Finance has launched Llamalend v2 on Optimism with support for isolated lending markets and non-crvUSD borrowing pairs, opening the first phase of a lending system upgrade ahead of a planned Ethereum mainnet rollout later this year. Summary Curve has launched Llamalend v2 on Optimism, expanding lending beyond crvUSD-only borrowing markets. Users can now use…
The U.S. Securities and Exchange Commission proposed removing two key Regulation NMS rules, opening a new debate over tokenized U.S. stocks and DeFi trading. Summary SEC proposed removing Rules 611 and 610(e), changing long-standing trade protections for U.S. equities markets. Analysts say the move could help DeFi market makers support tokenized U.S. stock trading. Tokenized…
Pyth Network is drawing renewed attention after a recent thread from market commentator Whale Factor outlined the project’s push into institutional financial data. Summary Pyth is expanding beyond DeFi with institutional data products and enterprise revenue growth. PYTH has recovered from recent lows, though major token unlocks remain a concern. Traders are watching whether adoption…
