THORChain processed nearly three-quarters of the $1.4 billion Bybit hack, even though it could easily have prevented the stolen ether from passing through. This has spurred a debate about cypherpunk values. When it became clear that the Lazarus Group hackers were swapping their stolen ETH for bitcoins on THORChain, an immediate vote to halt ETH to BTC swaps was passed, and then almost immediately reverted by other voters. THORChain made $5.5 million from its role as the main conduit for North Korean hackers laundering their ill-gotten gains, according to THORChain Explorer. The protocol saw $5.9 billion in swap volume in the 10 days from Feb. 22 through March 3. After 10 days, the hackers managed to launder all of the nearly 500,000 ether they stole into bitcoin. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-03-08 01:50

Crypto-based prediction platform Polymarket's market on whether President Donald Trump would establish a US Bitcoin reserve within his first 100 days in office remains unresolved, frustrating traders. Earlier this week, the probability of Trump establishing a US Bitcoin reserve surged to 49% on Polymarket after he reiterated support for the idea. Yesterday, the president signed an executive order officially establishing the reserve. Despite this, the market remains unresolved, even as other platforms have already settled similar markets. This delay has left approximately $10.5 million in limbo . Adding to the confusion, the probability of a "yes" outcome has dropped to 32% at the time of publishing, despite the executive order confirming the reserve’s creation. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-03-08 01:11

Coinbase, the largest U.S.-based centralized cryptocurrency exchange, has acquired the team behind the privacy-focused Iron Fish blockchain to accelerate privacy efforts on Base, its Ethereum Layer 2 blockchain. Saying that privacy is a right not a feature, Coinbase said it is “critical for unlocking the full potential of crypto” the company said in a blog post . By bringing the Iron Fish team aboard, Base is making “a long-term investment in privacy as a core pillar of the onchain economy,” it added. “This team brings a strong track record of helping builders by developing privacy-preserving tools and technology that are safe, accessible, and compliance-friendly.” To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-03-08 00:52

The NFT market’s woes continue as marketplaces struggle to regain their post-election volume levels, with a noticeable drop off after OpenSea temporarily removed bidding and listing points on its platform. The cumulative Ethereum NFT market processed just $5.7 million on March 5, despite recording between $20 million and $30 million per day while volume incentives were live, and regularly trading between $15 million and $50 million per day in December. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-03-07 23:57

Activity on memecoin launchpad PumpFun is slowing tremendously as the market grapples with tumultuous price action and massive rug pulls. On March 3, PumpFun launched 11,000 tokens, which is a far cry from the all-time high of 70,000 launched on Jan 23. However, the figure is still up significantly from Summer 2024, when between 4000 and 7000 tokens launched daily. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-03-07 23:47

Coinbase CFO Alesia Haas spoke at Coinbase's fireside chat with Morgan Stanley, where she shared that the company’s first F1 filing in 2020 involved a public security token, but was shot down by regulators. “We may be able to bring forward security tokens…and I’m just excited to see innovation in the U.S. and bring more and more assets onchain,” she said. The case for tokenized securities is bolstered by the Securities and Exchange Commission's (SEC) new crypto-friendly stance, with the agency dropping enforcement actions against major crypto entities like Consensys, Uniswap, and Yuga Labs within a matter of weeks. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-03-07 22:31

A forfeiture complaint filed on March 7, 2025, revealed that Ripple co-founder Chris Larsen lost approximately $150 million, equivalent to 283 million XRP, due to a hack in January 2024. The breach occurred because Larsen's private keys were stored in LastPass, a password manager that was compromised in 2022. The information was disclosed by the U.S. law enforcement agency and reported by investigator ZachXBT. This incident highlights the vulnerabilities associated with storing sensitive information in password managers, especially those that have previously suffered data breaches. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-03-07 21:00

The White House Crypto Summit is not expected to include any announcements regarding capital gains tax exemptions, according to multiple reports. This news comes amidst speculation and follows reports of no Bitcoin purchases by the administration, including a failed surprise announcement by Trump. The absence of anticipated tax relief measures has led to a drop in cryptocurrency prices, as the market reacts to the lack of favorable policy changes. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-03-07 20:30

The cryptocurrency market posted mild losses on Friday, just hours before President Donald Trump’s White House Crypto Summit, as today’s macroeconomic data rekindled concerns about rising inflation. Bitcoin (BTC) dropped 1% in the past 24 hours, trading at $87,500, while Ethereum (ETH) fell 1.1% to $2,164. XRP plunged 4.2% to $2.45, and Solana (SOL) was flat at $144, according to CoinGecko. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

2025-03-07 20:22