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A $650 million wave of bridge hacks just triggered a $7 billion mass migration to Chainlink

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Chainlink drew more than $7 billion of token value onto its cross-chain infrastructure in the second quarter as institutional adoption accelerated, according to its second-quarter review. The migration came as crypto projects replaced older bridging systems and traditional-finance firms moved deeper into tokenized markets, expanding Chainlink’s role across both sides of the digital-asset economy. Chainlink … Read more

EU expands HTX crackdown as Russia-linked crypto network keeps shifting its financial rails

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The European Union has sanctioned HTX, widening a Russia crackdown that has already affected counterparties beyond the exchange. The bloc placed Huobi Global S.A., the entity behind HTX, under a transaction ban in its 21st sanctions package adopted July 23. From Aug. 23, EU operators will be prohibited from transacting with the exchange, though the … Read more

These 10 altcoins are still worth $12B after a 97% collapse – but do users pay enough to them keep running?

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Ten once-prominent cryptocurrency networks now carry a combined market value of $12.06 billion, trading an average of 97.13% below their all-time highs. A recent report by Taurex noted that recovery needs across the group range from roughly 21.5x for Avalanche, the largest of the ten at $2.91 billion, to roughly 323x for Internet Computer, which … Read more

Two Ethereum bridges lose $31.7M within hours as third protocol halts staking

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AFX and the Verus-Ethereum bridge suffered about $31.69 million in combined losses within hours of each other, while B² Network separately suspended token staking after unauthorized access to a contract upgrade authority. Blockaid said it detected the AFX exploit at about 21:30 UTC on July 22. An Arbitrum transaction recorded 24.15 million USDC leaving the … Read more

DeFi’s next institutional hurdle is deciding who can be trusted to price real-world assets

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DTCC now runs a tokenization trial with roughly 40 firms, including JPMorgan, Goldman Sachs, BlackRock, Vanguard and the NYSE, to represent shares and Treasuries on-chain, tokens that become usable collateral only when a lending market can answer who prices them and what happens once the venues behind that price go quiet. DefiLlama puts on-chain RWA … Read more

XRP’s $1.16 recovery gets support from whales and a $285 million ETF streak

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XRP’s recovery above $1.16 this week has coincided with a shift in the token’s supply picture, as large holders move fewer coins onto exchanges while US-listed exchange-traded funds continue to attract fresh capital. The retreat in exchange-bound supply follows weeks of consolidation around $1, when weaker prices and limited spot demand kept XRP from sustaining … Read more

SEC pays $150,000 as Coinbase-backed Freedom Of Information Act settlement releases two withheld documents

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The SEC will pay $150,000 in legal fees and review how it preserves records as part of a July 22 settlement ending a Coinbase-backed public-records lawsuit. History Associates, the company working with Coinbase, filed the lawsuit on June 27, 2024. The case closed with a deal before a judge ever weighed the SEC’s conduct. The … Read more

Hong Kong builds a gold and yuan network that sidesteps dollar stablecoins

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Stablecoins won over users by making money easier to move, long before the financial world agreed on what they meant. That helps explain the scale of USDT and USDC: they never had to replace the global reserve system to become powerful. They simply made dollars easier to move online, and crypto markets made the network effect impossible to … Read more