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Bitcoin Heads Toward $7.9 Billion Options Expiry With Big Positioning At $75,000

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Bitcoin BTC$75,363.49 options worth approximately $7.9 billion are set to expire on Deribit this Friday, with positioning data pointing to $62,000 and $75,000 as key levels to watch. According to data source Glassnode, the $75,000 level is where most call option trades, which represent bullish bets, took place. At the time of writing, approximately $395 […]

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$300M Borrowing Spike on Aave Signals Liquidity Crisis After Exploit

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Aftershocks from Saturday’s KelpDAO hack are spreading through stablecoin markets in ways that weren’t immediately obvious. In the 24 hours following the attack, Aave users borrowed approximately $300 million against their Tether stablecoin deposits. USDT$1.0002 on the platform, according to data from Chaos Labs. Rising borrowing is not a sign of demand; this is a

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LayerZero blames Kelp’s setup for a $290 million exploit and attributes it to North Korea’s Lazarus.

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LayerZero placed blame for the $290 million Kelp DAO exploit on Kelp’s own security setup, saying the Liquid Restoration Protocol was running a single-verifier setup that LayerZero had previously warned against. The attack used a new vector targeting the infrastructure layer rather than any protocol code. The attackers, which LayerZero attributed with preliminary confidence to

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Bitcoin, ether, solana slide and oil jumps on renewed war risks between the United States and Iran

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Bitcoin absorbs the return of risk in the Middle East better than oil or stocks. Bitcoin was trading at $74,335 Monday morning, down 1.6% over 24 hours, but still up 4.8% over the week after the U.S. Navy seized an Iranian ship over the weekend and Tehran reimposed controls on the Strait of Hormuz. Ether

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DeFi wiped out $13 billion in two days, and it started with the KelpDAO attack

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The decentralized finance (DeFi) ecosystem is experiencing heavy capital flight following the weekend exploit of the KelpDAO protocol. Aave, the leading DeFi lending platform, lost $8.45 billion in deposits over the past 48 hours, leading to a broader $13.21 billion drop in total value locked (TVL) in DeFi. TVL refers to the combined monetary value

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Hack at Vercel sends crypto developers scrambling to lock down API keys

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A flaw at web infrastructure provider Vercel is forcing crypto teams to rotate API keys and perform deep inspection of their underlying code. In a bulletin, Vercel said the hacker was able to scrape behind-the-scenes settings that weren’t locked down, potentially exposing API keys — the digital credentials used by apps to connect to other

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how it happened and what it means for DeFi

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A roughly $292 million exploit over the weekend shook the crypto industry, exposing vulnerabilities in decentralized finance (DeFi) infrastructure and raising concerns about ripple effects on lending protocols. Although investigations are still ongoing, initial analysis suggests the attack was centered on Kelp’s rsETH token – a profitable version of ether (ETH) – and the mechanism

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Here’s how the crypto community is reacting after a massive $292 million hack

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The $292 million Kelp DAO exploit has sparked a wave of reactions across the crypto industry, with developers and traders warning that the incident has exposed deeper flaws in the way decentralized finance (DeFi) is built. Data shared by market participants shows that the immediate consequences spread far beyond the hacked protocol. “The rsETH hack

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Consensus Policy Summit Preview: State of Crypto

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As readers of this newsletter may know, Congress has spent the last few months debating market structure legislation, but crypto policy discussions encompass many more issues than this: taxes, decentralized financial regulation, midterm elections, states and much more. CoinDesk’s Consensus Miami conference next month will examine each of these questions in depth. You’re reading State

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