Everything web3, crypto, defi, degen
In brief Decentralized exchange Bunni announced its permanent shutdown Wednesday, saying it lacks the capital for a secure relaunch requiring six to seven figures in audit expenses alone. The September 2 hack drained $8.4 million through flash loan manipulation and rounding errors, with stolen funds remaining unmoved in Tornado Cash-funded wallets. Users can still withdraw…
In brief Paxos mistakenly minted 300 trillion PYUSD tokens last week before burning them 24 minutes later in what the company on Wednesday called an “internal technical error” that never left its systems. The Paxos co-founder said “the mistake was entirely ours” and blamed rarely-used manual operational processes designed for “very secure cold minting processes”…
In brief Developer activity is rising again after a post-FTX slump, led by Ethereum, Solana, and zero-knowledge projects. Stablecoin transactions now top $9 trillion annually, showing steady real-world use. Andreessen Horowitz says U.S. regulation is “finally normalizing,” but warns volatility and fraud still threaten progress. The cryptocurrency industry is no longer a niche experiment, but…
In brief Stablecoins now account for 30% of all crypto transaction volume, over $4 trillion in total, according to a new report from TRM Labs. The stablecoin market has remained both highly consolidated and US-dollar-centric. TRM Labs told Decrypt that “interest will continue to surge” in stablecoins. The big winner in the crypto world over…
At Kraken, transparency isn’t a slogan – it’s a standard. Our latest Proof of Reserves (PoR), attested as of September 30, 2025, once again verifies that client assets held on our platform are backed 1:1 and beyond. The process covers major cryptoassets, including BTC, ETH, SOL, USDC, USDT, XRP and ADA. We don’t expect blind…
In brief Governments are balancing modernization against monetary control, testing how far private stablecoin infrastructure can integrate into national systems. The region is moving from policymaking to real-world rollouts, with Japan’s banks leading institutional pilots and Singapore setting a regulatory benchmark. Competing models are emerging: bank-issued domestic coins, open but regulated innovation hubs, and conservative…
In brief Stablecoin behemoth Tether donated $250,000 to OpenSats this week, prompting Jack Dorsey to criticize the amount of the gift. Dorsey highlighted his own $21 million donation and drew mixed reactions from the Bitcoin community. Udi Wertheimer later called out Dorsey over his investment in Ocean, a Bitcoin mining pool that has attracted controversy.…
In brief Visa reports stablecoins have originated $670 billion in lending over five years, with average loan sizes rising from $76,000 to $121,000. USDC and USDT dominate stablecoin lending, mirroring their share of the $307 billion total stablecoin market. The IMF warns that stablecoin growth could lead to excessive risk-taking and financial system vulnerabilities. Payments…
In brief Tether paid $299.5 million to settle Celsius Network bankruptcy claims, far less than the nearly $4.5 billion in Bitcoin originally sought. Celsius claimed that Tether improperly liquidated Bitcoin before its bankruptcy without proper notice; Tether said it acted lawfully. Former Celsius CEO Alex Mashinsky was sentenced to 12 years in prison for fraud…
October 9, 2025 | New Features We’re thrilled to announce that Kraken now supports deposits and withdrawals of Tether (USDT) on Aptos! Funding USDT funding via Aptos is already live. You can transfer USDT to your Kraken account by navigating to Funding, selecting USDT and choosing the desired deposit method (network) from the drop-down box:…
