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Hyperliquid (HYPE), a decentralized perpetual exchange, is facing serious security threats from North Korean hacker groups, with over $700,000 lost in suspicious trading activities. Experts warn that these transactions may be tests of the platform's defenses, highlighting operational risks due to its reliance on only four validators and potential regulatory challenges from the US Office of Foreign Assets Control (OFAC) and the SEC. The platform's centralized liquidity approach raises concerns about significant financial losses in the event of an exploit, despite its strong user experience. HYPE is currently trading at $28.
USUAL token surged 15% to $1.21 following Binance Labs' investment, boosting its market cap to over $570 million. The Usual protocol, which aims to create decentralized stablecoins backed by real-world assets, secured $10 million in Series A funding co-led by Binance Labs and Kraken Ventures. This investment supports Usual's mission to innovate the stablecoin market and enhance decentralized finance solutions.
Usual, a decentralized stablecoin protocol, has secured $10M in a Series A funding round led by Binance Labs and Kraken Ventures, with participation from various notable investors. The protocol has surpassed $1.4B in Total Value Locked and ranks among the top 5 stablecoins, pioneering a new era for fiat-backed stablecoins by blending real-world asset security with DeFi's liquidity. With a community-first approach, Usual aims to expand its influence in both DeFi and CeFi, committing 90% of its token allocation to users.
The crypto industry faced significant challenges in 2023, highlighted by Binance executive Tigran Gambaryan's eight-month imprisonment in Nigeria and the conviction of Tornado Cash developer Alexey Pertsev for money laundering. As regulatory scrutiny intensified under SEC Chair Gary Gensler, the crypto lobby mobilized substantial funds for the 2024 elections, anticipating a shift in regulatory dynamics with the incoming Trump administration. The focus is expected to shift towards international regulations, particularly in the EU, while the US may become a more favorable environment for crypto entrepreneurship.
The cryptocurrency market experienced a significant downturn, with Bitcoin (BTC) plummeting from over $108,000 to around $95,000, marking its first weekly decline since Trump's election. Ethereum (ETH) and Solana (SOL) also faced substantial losses, with ETH dropping below $3,500. The Federal Reserve's hawkish stance on interest rates contributed to the selloff, resulting in $1.2 billion in liquidations across the market.
XRP price is facing challenges after a decline from the $2.38 zone, currently trading below $2.30 and the 100-hourly Simple Moving Average. Resistance levels are at $2.25 and $2.30, while major support is found near $2.12 and $2.05. A failure to break above $2.25 could lead to further declines towards $2.00.
Ethereum's price has fallen below the $3,550 mark, showing bearish momentum and trading under the 100-hourly Simple Moving Average. Key resistance is at $3,420, while initial support is near $3,200, with further declines possible if the price drops below $3,120.
Ethereum's price has fallen below the $3,550 mark, showing bearish momentum as it trades under $3,500 and the 100-hourly Simple Moving Average. A key resistance level is forming at $3,420, and failure to break above this could lead to further declines, with initial support near $3,200 and major support at $3,120. If the price drops below $3,120, it may test the $3,050 and $3,000 support levels.
Bitcoin has extended its losses, trading below the $100,000 mark and showing bearish momentum, with potential declines toward the $91,200 support zone. Key resistance is at $95,850, and failure to surpass this level may lead to further downward movement, with immediate support near $93,800. Technical indicators suggest a bearish trend, as the price struggles to recover above critical levels.
BVNK has raised $50 million in a Series B funding round to expand its stablecoin operations into the US, targeting San Francisco and New York City. Meanwhile, Coinbase faces a $1 billion lawsuit from BiT Global over its delisting of Wrapped Bitcoin, which BiT alleges is an anticompetitive move. Additionally, Deutsche Bank is developing a layer-2 blockchain on Ethereum to enhance compliance in regulated finance, while Tether's USDT continues to be traded across European exchanges despite Coinbase's delisting.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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