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Lending protocol Sonne Finance faces $20 million exploit, pauses markets on Optimism
Lending protocol Sonne Finance faces $20 million exploit, pauses markets on Optimism

The decentralized lending protocol said in a post-mortem report that it suffered an exploit that resulted in losses of $20 million. The team added it’s ready to offer a bounty to the attacker in exchange for return.

The Block·2024/05/15 06:04
Bitcoin Won’t Pump Again Until The Fed Cuts Rates, Says Mike Novogratz
Bitcoin Won’t Pump Again Until The Fed Cuts Rates, Says Mike Novogratz

Bitcoin will likely chop between $55,000 and $75,000 until the market gets a “new narrative,” Galaxy’s CEO believes.

Cryptopotato·2024/05/15 00:49
State of Wisconsin’s investment board discloses nearly $100M of BlackRock’s bitcoin ETF
State of Wisconsin’s investment board discloses nearly $100M of BlackRock’s bitcoin ETF

The holdings disclosure is the first from a state investment board

Blockworks·2024/05/15 00:07
Flash
01:34
Forbes: Stablecoin technology has matured, but compliance and localized infrastructure are the real bottlenecks for mass adoption
According to ChainCatcher, Forbes reports that although stablecoin trading volumes have exceeded $10 trillion over the past year, most activity remains concentrated in crypto-native sectors such as trading, arbitrage, and settlement between protocols, with limited application in everyday commercial payments. WasabiCard CEO Ray Yang pointed out that the transfer of funds itself is no longer the core issue; licenses, compliance, risk management, and banking capabilities are now the key foundations for achieving large-scale adoption. Forbes notes that while stablecoin settlements can significantly improve cross-border payment efficiency, each market has different compliance standards, licensing requirements, and banking relationships. Building localized compliance on a market-by-market basis is both slow and costly, creating a contradiction with the instant global settlement that stablecoins promote. The current stablecoin market now exceeds $320 billion, and industry discussion is shifting from whether stablecoins can replace existing networks to how they can be integrated into them. Forbes believes that the problem of the last decade was moving money, while the challenge of this decade is ensuring global payments can operate compliantly and at scale in a fragmented regulatory environment.
01:33
Bitcoin market capitalization shrinks by $235 billion, significant growth in tokenized assets observed
According to a Bloomberg report, Bitcoin's market value has decreased by about $23.5 billion this year, while the total altcoin market cap has fallen from $43.1 billion in November 2021 to approximately $17 billion. Despite this, annual stablecoin trading volume has reached $390 billion, and stablecoins are integrating into global payment systems. Wall Street companies are accelerating the tokenization of stocks, bonds, and money market funds. BlackRock's tokenized money market fund BUIDL now has assets valued at $2.4 billion. Nasdaq has partnered with an exchange to offer tokenized stocks, and currently, over $3 billion in assets have been tokenized.
01:31
Odaily Morning News
1. Serenity: Caution should be taken regarding Bank of America's bearish outlook; a wave of negative news often occurs because institutions need liquidity. 2. The U.S. stock market capitalization to GDP ratio has risen to 238%, reaching an all-time high. 3. "Set 10 Major Goals First" has closed half of their BTC positions, realizing a profit of 4.88 million USD. 4. Bitwise deposited 50,480 HYPE tokens worth 3.28 million USD into FalconX. 5. A whale increased their holdings by another 23.29 million USD, with a current total value of BTC and ETH positions exceeding 142 million USD. 6. Humanity Protocol related addresses continue to lose funds, with losses now over 31 million USD. 7. Arthur Hayes: Rising oil prices, AI-related IPOs, and anti-AI comments by Trump may burst the AI bubble and drag down the crypto market. 8. Suspected new Bitmine wallet received 25,000 ETH from an exchange, valued at 42.03 million USD. 9. Israeli media: Trump is pressuring Netanyahu to stop escalating strikes against Iran. 10. OpenAI revealed that it has secretly filed for an IPO.
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