This exploit, a stark reminder of the vulnerabilities that lurk within the very heart of DeFi infrastructure, comes despite the ever-watchful eye of regulators and the tireless efforts of those who seek to fortify its walls. Yet, like a stubborn weed that breaks through the cracks of a stone path, the flaws endure, mocking the hubris of those who dare to claim mastery over this digital realm.
In those bygone eras, the market value took a tumble from $1,100 to $200, then from $19,700 to $3,200, and once more from $69,000 to a sobering $15,500. Each subsequent reset ticked off like clockwork with the mighty Bitcoin halving, that fabled event that halves the new supply every four years and repeats this drama like a well-rehearsed show by the Mississippi River.
According to CoinMarketCap, Bitcoin’s price took a 3% nosedive from an impressive peak of $110,764 to a humbler $107,000. This thrilling circus of price fluctuations sent altcoins into a free fall, with ETH shuddering 5.8% to $3,680, XRP stumbled 5% to $2.38, BNB wobbled 5.70% to $1,029, and Solana (SOL) making a cringe-worthy 6.5% dive to $174 by 6:50 AM UTC.
In the peculiar way only politicians and crypto gurus seem to manage, US Senator Elizabeth Warren and Binance’s head honcho Changpeng “CZ” Zhao find themselves in the midst of a rather delightful tug-of-war. It all started, rather unsurprisingly, with a volley of accusations and counter-accusations. CZ’s legal team, notably full of zest, labeled Warren’s comments as defamatory, only for her rebuttal to come swift and firm, claiming every word was grounded in cold, hard, verified facts.
Maybe! But SOL’s ETF debut was about as exciting as watching paint dry. 🎨
Yestreen, as though guided by the muse of fortune, Solana danced through $180 and $182, a nimble ballet that rivaled the grace of Bitcoin and Ethereum. But alas, returning simplicity of action, Solana ascended past $188 – reached for the stars! Only to tumble with the weary yawn of gravity and form a high near $189. And there, SOL stumbled, with a low at $176, now snoozing amidst the corpses of gains under the watchful eye of a bearish cannon, outlined with the 23.6% Fib retracement.
Earlier this month, the crypto market experienced one of its most brutal shakeouts on record: over $19 billion in leveraged positions were liquidated overnight, the largest single-day wipeout in the industry’s history. Bitcoin, which had set a new all‑time high of $125,835 just days earlier, plunged in the aftermath of the event, hovering around the $110,000 level. 🤯💸
The U.S. Federal Reserve (Fed) pumped $29.4 billion into the banking system on Friday, sparking optimism on crypto social media. While the move aimed at easing liquidity concerns and is supportive of risk assets, including bitcoin, it’s nothing out of the ordinary. 🙃
Kyrgyzstan’s President Sadyr Japarov, with a flourish worthy of a Lancre mayor, announced the launch of Bereket Bank. This shiny new institution is all about digital dosh, thanks to a nudge from Changpeng Zhao, the wizard behind Binance. The goal? To hoover up foreign investments like a goblin with a gold fetish. Japarov was quick to clarify: “It’s private, no government meddling here. We’re not running a state-sponsored piggy bank!” 🐷💰
The OI-Weighted Funding Rate, that most fickle of courtiers, is positive, showing derivatives traders are predominantly betting on the upside. 🧠
