Adam Aron said synthetic AMC shares could divert demand from the actual stock and strip investors of shareholder rights, drawing support from some tokenization executives.
The exploit caused the neobank’s AVICI token to drop 49% from a 24-hour high, hitting a record low before paring some of the losses.
The changes aim to cut investor selling pressure and channel protocol revenue to ENA as Ethena looks to revive USDe growth.
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.
ENA is rallying on a $1 billion FalconX deal, while HYPE tests its record, though flat dominance shows this is no broad alt season.
Trump Media (DJT) is unwinding parts of its crypto push, including scrapping plans to establish a publicly traded CRO token accumulation company, which it unveiled near the height of last year’s digital asset treasury boom. Trump Media, Crypto.com and special purpose acquisition company Yorkville Acquisition… Read More
