Everything web3, crypto, defi, degen
In brief A Circle executive said the company is considering whether to enable reversible USDC transactions. The move would potentially boost the usefulness of stablecoins by traditional finance players. However, it also goes against the crypto ethos of immutability. Publicly traded stablecoin issuer Circle is exploring the possibility of reversible transactions involving its dollar-backed stablecoin,…
Publicly traded cloud infrastructure firm Cloudflare—which powers a significant chunk of internet traffic—is launching a U.S. dollar-backed stablecoin, the NET Dollar, to help propel the future of AI-driven finance on the internet, the firm announced on Thursday. Like other stablecoins, Cloudflare’s version will offer near-instant transactions globally. The firm also highlighted its use in rewarding creators…
In brief GSR Digital Asset Treasury Companies ETF will invest at least 80% of its assets in firms that hold cryptocurrencies in their corporate treasuries. The market maker’s registration statement to the SEC included proposals for four other funds that would focus primarily on Ethereum and staking. London-based GSR recently opened a U.S. asset management…
In brief Ransomware group Rhysida reportedly stole sensitive data and personal information from the Maryland Department of Transportation. The collective is now auctioning off the contents for 30 BTC, or about $3.4 million worth. Ransomware payments were down 35% in 2024, but still amounted to $813 million in total. Sensitive data swiped during a cybersecurity…
In brief Researchers find that rollup fee models collapse costs, leaving small transfers over- or underpriced. A benchmark shows Polygon zkEVM, zkSync, Scroll, Optimism, and Arbitrum use divergent, potentially exploitable fee rules. The authors urge multidimensional pricing of execution, data, and proof to prevent systemic risks. Ethereum’s rollup networks are mispricing small transactions, creating risks…
In brief The Asia-Pacific region—led by India, Pakistan, and Vietnam—had the biggest increase in crypto transaction volume, a new Chainalysis report shows. Volume in the region shot up from $1.4 trillion to $2.36 trillion. Latin America wasn’t far behind in adoption. The Asia-Pacific is the fastest growing region for crypto adoption, research released Wednesday by…
In brief Acting CFTC Chairman Caroline Pham has unveiled an initiative to integrate tokenized collateral, including stablecoins, into U.S. derivatives markets. The move comes as Congress considers legislation that could shift more crypto oversight from the SEC to the CFTC. Industry leaders from Ripple, Circle and Crypto.com backed the effort as improving efficiency, trust and…
In brief Hyperliquid’s USDH stablecoin has debuted, after Native Markets won the high-profile bid for the ticker last week. It follows a swarm of crypto companies attempting to win the proposal, including the likes of Paxos, Agora, and Ethena. The launch comes as Hyperliquid faces notable competition from emerging perpetual futures decentralized exchange, Aster. Hyperliquid’s…
In brief Former California Assembly majority leader Ian Calderon has vowed to put Bitcoin on California’s balance sheet and back crypto payments for state programs as part of his bid for governor. Calderon previously pushed blockchain policy through AB 2658 and worked with the Satoshi Action Fund. Current bills, AB 1180 and AB 1052, stop…
In brief Tether is seeking to raise up to $20 billion, according to a report. The private raise could give the stablecoin issuer a valuation of $500 billion. AI giant OpenAI and Elon Musk’s SpaceX have received similar valuations. Stablecoin giant Tether Holdings is hoping to raise up to $20 billion in a private placement…
