Author: Yeek.io

Synthetix’s algorithmic stablecoin sUSD is continuing to drift from its $1 peg, currently trading at $0.90. The depeging began in March, with sUSD briefly slipping below $1, but the situation worsened after the implementation of SIP-420—a governance proposal aimed at improving capital efficiency and simplifying the user experience within the Synthetix (SNX) ecosystem. According to Parsec research, the implementation of SIP-420 has inadvertently caused a large increase in the supply of sUSD, which triggered the current depeg. Source: CoinMarketCap Specifically, SIP-420 introduced a protocol-owned staking pool, allowing SNX holders to delegate their staking to a shared pool rather than managing…

A known maximal extractable value (MEV) white hat actor intercepted about $2.6 million in crypto assets stolen from Morpho Labs’ decentralized finance (DeFi) protocol. On April 10, Morpho Labs implemented a front-end update on its Morpho Blue application. A day later, a hacker breached an address through a vulnerability caused by the update. Blockchain security firm PeckShield reported that an address lost $2.6 million due to the vulnerability. However, the security firm noted that “c0ffeebabe.eth,” a known white hat MEV operator, had front-run the transaction, effectively intercepting the stolen funds.At the time of writing, the funds had been transferred to a different…

Democratic lawmakers have slammed the Department of Justice’s move to dismantle the National Cryptocurrency Enforcement Team, calling the decision “nonsensical” and a gift to bad actors. United States Senator Elizabeth Warren, along with six other Senate Democrats, sent a strongly worded letter to Deputy Attorney General Todd Blanche on April 10, urging the DOJ to reverse what they described as a dangerous and misguided shift in enforcement policy. The backlash follows Blanche’s April 7 memo, which formally disbanded the DOJ’s National Cryptocurrency Enforcement Team.  In the memo, Blanche defended the move by claiming the DOJ is “not a digital assets…

Ethereum co-founder Vitalik Buterin reminds users to rely on contracts that have been reviewed by trusted wallet teams amidst security concerns about the latest upgrade. In a recent post shared on the decentralized social media platform Warpcast, Buterin responded to the Ethereum (ETH) community’s concerns regarding the protocol’s latest upgrade, EIP-7702. One user shared a statement from X user @nftchance, who pointed out the “non-viability” of EIP-7702. The user pointed out that the wallet blocks websites that are not suspicious. However, it still allows delegations for potentially fraudulent contracts to pass through, which could leave users vulnerable to potential security…

Key Takeaways: Senator Chris Murphy claims President Donald Trump uses his meme coin to move undisclosed funds. The use of blockchain for this purpose raises questions about transaction visibility. The controversy adds fuel to discussions on digital asset regulation and political finance oversight. Senator Chris Murphy (D-CT) reignited controversy on April 9 by accusing Donald Trump of running a covert bribery operation tied to his personal cryptocurrency, $TRUMP.“Today is the 80th day that the U.S. President is running a backdoor bribery scheme in which any CEO or foreign oligarch can send him money secretly through his crypto coin scam in…

Bitcoin could keep sliding as cooler-than-expected U.S. inflation data has sparked fears that President Trump might go harder on tariffs, a move that could actually bring inflation back up in the long run. On Friday, Bitcoin (BTC) dropped below $80,000 and was still down about 1.6% over the last 24 hours at press time. This came even as the U.S. Consumer Price Index (CPI) for March showed inflation falling to 2.4%, down from 2.8% in February and slightly better than the 2.5% forecasted by analysts. The CPI, released monthly by the U.S. Bureau of Labor Statistics, is a key inflation…

On Friday, April 11, 2025, the cryptocurrency market experienced notable declines as escalating trade tensions between the United States and China impacted investor sentiment. Bitcoin (BTC) fell below the $81,000 mark, while Ethereum (ETH) saw a significant drop of nearly 4%.​ As of 11:58 AM IST, Bitcoin was trading at approximately $80,955, reflecting a 1.5% decrease over the past 24 hours. Ethereum’s price stood at around $1,552, marking a 3.8% decline in the same period. The global cryptocurrency market capitalization decreased by 1.09% to $2.58 trillion.​ The downturn in the crypto market coincided with renewed trade frictions between the US…

Vitalik Buterin has shared a new proposal aimed at improving user privacy on Ethereum without making big changes to the network itself. In an Apr.11 post on the Ethereum Magicians forum, the Ethereum (ETH) co-founder explained how wallets and developers could take small but meaningful steps to protect users without waiting for long-term upgrades to the core protocol. Buterin’s post stresses the need to integrate privacy tools, like Railgun and privacy pools, directly into existing wallets.  Instead of building separate apps, the goal is to make privacy a natural part of how users send and receive funds. Wallets could include…

Homepage > News > Business > Binance founder and felon CZ helping governments make choices Binance’s founder Changpeng ‘CZ’ Zhao is becoming a global adviser for governments looking to boost their digital asset understanding, despite his criminal conviction for ignoring the rules of other governments. On April 7, Pakistan media reported that Binance’s former CEO CZ had been named a strategic advisor to the Pakistan Crypto Council (PKK). The PKK was recently established to explore a number of digital asset efforts, including boosting blockchain-based remittances by Pakistani nationals working abroad. The appointment followed CZ’s meeting with Pakistan’s Prime Minister and Deputy Prime Minister,…

Solid, a fintech startup that once branded itself as “the AWS of fintech,” has officially filed for Chapter 11 bankruptcy protection. The filing was submitted on April 7 in the U.S. Bankruptcy Court for the District of Delaware. Founded in 2018 and formerly known as Wise, Solid had raised approximately $81 million from prominent investors, including FTV Capital and Headline. At the peak of its momentum in August 2022, the Palo Alto-based startup announced a $63 million Series B funding round led by FTV Capital, bringing its total valuation to $330 million, according to PitchBook. Solid operated as a banking-as-a-service…