Coindesk

Crypto exchange BigONE has confirmed a $27 million breach stemming from a hot wallet exploit on July 16 and states that all user funds will be fully reimbursed.In an official statement, the exchange said it detected “abnormal movements” tied to a third-party attack and has since identified and contained the vector. All private keys remain secure, and no additional losses are expected.BigONE is working with blockchain security firm SlowMist to track the stolen assets, with fund tracing already underway across Bitcoin, ethereum, Tron, Solana, and BNB Chain, per a release.What Was Stolen?The stolen tokens span across major and minor assets, including:120 BTC350 ETH9.5B SHIB7.1M USDT (multi-chain)538,000 DOGE1,800 SOL1 WBTC20,730 XIN15.7M CELR25,487 UNI16,071 LEOBigONE said user balances are safe, and all...

Ethereum's native token ether (ETH), is gaining ground against bitcoin (BTC), as the impending GENUIS Act is likely to ban yield-bearing stablecoins that promise interest-like returns, according to Markus Thielen, founder of 10x Research.The Binance-listed ether-bitcoin ratio, representing ether's BTC-denominated price, rose over 5.96% to 0.02670 on Tuesday, registering its best performance since May 13, according to data source TradingView.The upswing marked a bullish resolution to the multi-week range play and suggests continued ether outperformance ahead. Ether's dollar-denominated price rose over 4%, topping $3,100 for the first time since February.According to Markus Thielen, founder of 10x Research, the key driver for ether's price surge is seemingly the growing anticipation that the GENUIS Act, or the U.S. stablecoin bill, will pass,...

What to know:DOGE rose 5.05% from $0.190 to $0.200 between July 15 05:00 and July 16 04:00, trading in a $0.011 range with 5.48% volatility.Volume spiked to 464.28 million during the 23:00–00:00 window, crushing the 24-hour average of 287.95 million.Breakouts occurred at 12:00 and again in the evening session, lifting DOGE past $0.195 resistance.Final hour showed rejection at $0.200, with short-term pullback forming a descending micro-channel into $0.196.News BackgroundDOGE’s breakout follows a broader return of meme coin flows as traders rotate into volatility ahead of key macro events later this week.Institutional footprints were visible in volume surges above $0.195, with market makers defending support levels near $0.190 during the early session.Technical setups are now aligned with Fibonacci retracement targets around...

A Florida Congresswoman's post on X has moved the market for bettors looking to speculate on the firing of Federal Reserve chair Jerome Powell.Anna Paulina Luna (R- Florida) claimed on the social media site that Powell's firing was 'imminent', but provided no further details, moving the 'yes' side of a related contract on Polymarket by 4% up to 27%.Luna does not serve on the House Financial Services Committee, which oversees the Federal Reserve. The Florida 13th district representative serves on the House Oversight and Accountability Committee and Natural Resources Committee, and is a member of the House Freedom Caucus and Congressional Second Amendment Caucus.President Trump has long wished to remove Jerome Powell, dating back to his first administration, but there...

The governor of the Bank of England, Andrew Bailey, wrote a letter to the G20 yesterday stating that the Financial Stability Board (FSB) — the forum’s financial overseer, which Bailey was appointed to head in April — is assessing the role of stablecoins in payments and settlements as a top priority.To the point: an analyst at Standard Chartered says that, once stablecoins hit the $750 billion mark, they may begin to influence the structure of U.S. Treasury markets. (Their market cap is currently at roughly $258 billion according to DefiLlama.)We also have Deribit making it possible for USDC holders to earn 4% yield, a crypto startup called Dakota raising $12.5 million to make it easier for businesses to move funds...