Upbit parent company Dunamu CEO Lee Sirgoo apologized for the recent security breach, admitting internal security lapses and pledging zero user losses. Upbit estimates about 44.5 billion KRW in affected assets (38.6B KRW user funds, 2.3B KRW frozen, and 5.9B KRW company loss). https://t.co/rGVjwUdnB2Wu Blockchain (@WuBlockchain):Yonhap News reports that South Korea’s largest crypto exchange, Upbit, suffered a hack worth about 44.5 billion KRW ($32 million). Authorities are investigating whether North Korea’ ...

Former FTX CEO SBF's Ponzi SchemeTutorialOn April 25, 2022, SBF explained "yield farming" on the Odd Lots podcast but unintentionally described a full-blown Ponzi scheme. He used an example of a "box" (a project) created with nothing more than an internet connection and a token issued out of thin air. With enough hype and influence, it could attract $200 million in investment. Prices rise because money flows in, and money flows in because prices rise. By the end of it, you realize — this isn’t innovation, i ...

Aishwary Gupta, Polygon’s Global Head of Payments and RWA, said stablecoins are entering a “super cycle,” with over 100,000 issuers expected in the next five years. He noted that traditional banks will need to restructure their capital management models to stay competitive, likely by issuing “deposit tokens” to retain liquidity. Future payment systems, he added, will enable seamless conversion between different stablecoins through neutral settlement layers.https://t.co/QMHRkn7PvC ...

According to Reuters, CME Group halted trading in currencies, stock futures, and commodities due to a cooling system failure at its data centers, also affecting the EBS forex platform. The outage impacted all futures and options contracts on the Globex platform. LSEG data showed that after the halt, quotes for S&P 500 and Nasdaq 100 futures, as well as major currency pairs, were no longer updating. https://t.co/cHznC1Gu81 ...

Animoca Brands Chief Strategy Officer Keyvan Peymani said the company will expand its focus in 2026 beyond gaming to include stablecoins, AI, DePIN, and DeFi. Founder Yat Siu noted that institutional participation will drive the next phase of crypto growth, shifting from Bitcoin investment to utility-based adoption. Animoca also plans to go public on Nasdaq in 2026 via a reverse merger with AI fintech firm Currenc Group.https://t.co/n2MgO7Gvz1 ...

Yonhap News reports that South Korea’s largest crypto exchange, Upbit, suffered a hack worth about 44.5 billion KRW ($32 million). Authorities are investigating whether North Korea’s Lazarus Group was behind the attack. The group was also linked to Upbit’s 2019 theft of 58 billion KRW in Ethereum. The recent hack targeted a hot wallet, with hackers using “hopping” and “mixing” methods typical of Lazarus.https://t.co/Lp53TknRK7 ...

Alliance DAO partner QW tweeted that he questions the long-term value of holding L1 tokens. He said high P/E ratios aren’t the issue—the key problem is that L1s lack a moat: users can easily bridge assets, developers can migrate quickly, and new chains are easy to launch, making switching costs much lower than AWS. He suggested that chains should vertically integrate the application layer, as seen with Solana, Base, and Hyperliquid, or focus on the app layer instead of infrastructure to capture exponential ...

A major fire recently broke out in Tai Po, Hong Kong, causing significant losses. Binance, HashKey Group and Avenir Group announced a donation of HK$10 million each in emergency relief to support relief and reconstruction efforts. KuCoin also donated HK$2 million. https://t.co/pI09LyJPf7 ...

Multiple high-inflation countries are accelerating the use of crypto assets as an alternative store of value. Chainalysis data shows that from July 2024 to June 2025, Turkey recorded $200 billion in crypto transaction volume (local inflation around 32%), Argentina $93.9 billion (inflation around 31%), Nigeria $92.1 billion (inflation around 16%), Venezuela $44.6 billion (inflation over 170%), and Bolivia $14.8 billion (inflation around 22%). https://t.co/xSblFPz1Xu ...

Tom Lee: October Liquidations Crippled Market Makers, Pushing Crypto Into a Weak-Liquidity PhaseIn a CNBC interview on November 21, Bitmine Chairman Tom Lee explained that the crypto market has been "limping" since October 10, following an unusually large wave of liquidations that severely damaged market makers' balance sheets and significantly weakened liquidity. He noted that market makers function as the "central banks" of the crypto ecosystem, and once they are forced to shrink their balance sheets, it ...