Business – Page 200 – PK Press Club

Protecting the people building DeFi infrastructure

Welcome to our institutional newsletter, Crypto Long & Short. This week: Jennifer Rosenthal on the need to protect the people actually building DeFi infrastructure. Alexis Sirkia explains how Ethereum’s L2 strategy fails due to a fundamental design flaw. Institutions making headlines should pay attention, according to Francisco Rodrigues. Aave Market Share Falls After rsETH Mining […]

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Kelp DAO leveraged for $292 million

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Network News OPERATING VACHER DAO: A cross-chain bridge containing nearly a fifth of the circulating supply of a reinvested ether token has just been exhausted, and the fallout is spreading across DeFi faster than Kelp DAO can suspend contracts. An attacker drained 116,500 rsETH (reinvested ether) from Kelp DAO’s LayerZero-powered bridge at 5:35 p.m. UTC

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Banks Seek to Slow Implementation of GENIUS Stablecoin Oversight Act

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The crypto industry frequently finds bankers involved in its priority regulatory efforts, and this time, a coalition of banking trade associations has asked the U.S. Treasury Department to extend the window during which the public can weigh in on the implementation of last year’s Guiding and Establishing National Innovation for American Stablecoins (GENIUS) Act. In

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Crypto giant GSR launches its first ETF to give investors an easy way to bet on the big three

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Crypto trading firm GSR has launched its first exchange-traded fund (ETF), entering a rapidly growing segment of the digital assets market as investor demand for regulated exposure to crypto continues to rise. The GSR Crypto Core3 ETF, traded under the symbol BESO on Nasdaq, provides exposure to three major cryptocurrencies, including bitcoin. BTC$78,068.51ether (ETH) and

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Bitcoin Breaks Strategy’s STRC Ex-Dividend Date Cut for First Time in Six Months

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Strategy’s (MSTR) perpetual preferred stock, STRC, is now one week past its April 15 ex-dividend date. With Bitcoin BTC$79,331.16 Now at $79,000, this is the first time in six months that BTC has increased in the week following the payment event. At the time of the ex-dividend date, bitcoin was around $75,000, highlighting BTC’s continued

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UK FCA raids eight illegal peer-to-peer trading centers

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The UK’s Financial Conduct Authority (FCA) has carried out its first coordinated crackdown on illegal peer-to-peer cryptocurrency trading, targeting eight sites across London in a joint operation with His Majesty’s Revenue & Customs (HMRC) and the South West Regional Organized Crime Unit (SWROCU). Authorities issued cease and desist notices to each site and gathered evidence

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AI pivot accelerates as HIVE raises new capital and Keel reshapes its portfolio

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Mining companies HIVE Digital (HIVE) and Keel Infrastructure (KEEL) are doubling down on artificial intelligence (AI) infrastructure, continuing the theme of a broader shift in the sector away from bitcoin. BTC$79,066.03 exclusively mining. HIVE raised $115 million through a zero-interest convertible note offering, with proceeds intended to expand its global data center footprint and GPU

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Aptos (APT) Rises 5.5%, Rising Index Leader

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CoinDesk Indices presents its daily market update, highlighting the performance of the leaders and laggards of the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 2157.12, up 3.4% (+71.19) since 4 p.m. ET Tuesday. All 20 assets are trading higher. Leaders: APT (+5.5%) and ICP (+5.3%). Laggards: XLM (+0.9%) and CRO (+1.9%). The

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Kraken filed 56 million crypto tax forms for 2025. A third were below $1

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Crypto exchange Kraken claims to have filed 56 million crypto transaction forms with the United States Internal Revenue Service (IRS) for fiscal year 2025. About 18.5 million of them covered transactions worth less than $1, and more than half covered transactions worth $10 or less. Only 8.5% of newly introduced 1099-DA forms exceeded $600, the

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Polymarket traders don’t see Kelp socializing his losses after $292 million exploit

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A Polymarket contract on whether Kelp DAO will spread losses from the weekend’s $292 million exploit beyond those directly affected indicates a clear answer: probably not. Punters give a 14% chance that Kelp will “socialize losses” or implement a mechanism forcing rsETH holders on Ethereum, which was not affected, to share the pain of users

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