New Clarity Act text tweaks DeFi, credit union provisions, but road ahead for bill remains murky
The Clarity Act needs 60 votes when the Senate returns from its recess next week. Republicans circulated a fresh draft on Thursday ahead of the vote.
DeFi
A 3% token move just triggered $36 million in Ethereum DeFi liquidations
One wallet bought heavily into a yield token, which pushed the price of its paired principal token down just enough to trigger liquidations across borrowers using it as collateral.
Smart-contract and DeFi coins lead losses as BTC price wilts for 4th straight day
The largest cryptocurrencies remained under pressure for a fourth straight day, with bitcoin falling 2.5% in 24 hours to just below $62,400. It’s not alone. The CoinDesk 20 Index (CD20) has dropped 3.3%, with ether (ETH), XRP (XRP) and solana (SOL) all weaker. The CoinDesk… Read More
Here’s what Claude Fable 5 means for crypto and DeFi
However, the two largest incidents were not simple smart-contract exploits of the type AI could engineer. In one, a North Korea-linked group drained about $285 million from Drift Protocol after a six-month social-engineering campaign that won it admin access. For the other, the attacker exploited… Read More
XRP Ledger’s design blocks the flash loan attacks costing DeFi hundreds of millions
The two biggest DeFi exploits of the past two months have one thing in common. They used a tool that does not exist on the XRP Ledger. Thorchain lost roughly $10.8 million on May 15 to a cross-chain attack that drained funds across Bitcoin, Ethereum,… Read More
VanEck’s tokenized fund lands on Euler as DeFi courts Wall Street institutions
Decentralized finance (DeFi) protocols built for crypto assets are increasingly retooling themselves for Wall Street, and VanEck’s tokenized Treasury fund arriving on lending platform Euler is the latest example of that shift. Securitize (CEPT), issuer and tokenization specialist behind VanEck’s VBILL Treasury fund, said Thursday… Read More