Coindesk

Solana-based decentralized exchange (DEX) Jupiter has announced that it will pause DAO votes until the end of 2025, stating that the structure is not "working as intended."Jupiter executive Kash Dhanda explained in an X post that the protocol is in a "critical period" and that the "window to define the future of DeFi is open."In order to capitalize on that window, Dhanda said that all DAO votes will be paused and in 2026 governance will return "with a fresh approach that unifies, rather than divides.""The current DAO structure isn’t working as intended," he added. "We hear the complaints. We see the breakdown in trust. We feel the perpetual FUD cycle that grows with every vote. Instead of the DAO, holders,...

Arizona moved closer to establishing a bitcoin BTC reserve fund after the state's Senate voted in favor of the bill at its third reading.Arizona's Senate passed House Bill 2324 (HB2324) in a 16-14 vote on Thursday, sending it back to House for a final decision. The legislation would update Arizona's laws on forfeiture, allowing the state to hold abandoned digital assets as unclaimed property. It also creates a "Bitcoin and digital assets reserve fund" to manage the forfeited assets.It follows House Bill 2749 (HB2749), enacted in April, which amended unclaimed property frameworks to integrate digital assets. The bill is distinct from Senate Bill 1025 (SB1025), which proposed using seized funds to invest in BTC. That passed the House 31-25 before...

A North Korean hacking group is targeting crypto workers with a Python-based malware disguised as part of a fake job application process, researchers at Cisco Talos said earlier this week.Most victims appear to be based in India, according to open-source signals, and seem to be individuals with prior experience in blockchain and cryptocurrency startups.While Cisco reports no evidence of internal compromise, the broader risk remains clear: That these efforts are trying to gain access to the companies these individuals might eventually join.The malware, called PylangGhost, is a new variant of the previously documented GolangGhost remote access trojan (RAT), and shares most of the same features — just rewritten in Python to better target Windows systems.Mac users continue to be affected...

XRP XRP has staged one of the strongest rallies among crypto majors this cycle, but early retail holders are heading for the exit under the surface.Now trading above $2 — more than thrice its pre-rally base from October 2024 — XRP has become one of the best-performing large-cap tokens over the past 8 months. Investors who bought below 60 cents are sitting on gains upward of 300%, prompting a sharp pickup in profit-taking.According to on-chain data from Glassnode, the 7-day simple moving average (SMA) of realized profits from XRP wallets hit $68.8 million earlier this month, the highest in over a year. That’s a clear sign of distribution pressure, with early accumulators cashing out into strength as the token tests...

Crypto markets drifted lower on Thursday, caught between hawkish macro guidance, looming global trade deadlines, and fading volatility. Bitcoin BTC hovered near $104,700 during Asia hours, slipping 1.2% over 24 hours, while ether ETH traded just below $2,860, down 1.8% on the day.The soft price action tracks with broader macro unease following Wednesday’s FOMC hold, where the Fed kept rates unchanged but reiterated a cautious, inflation-sensitive stance.Seasonality is starting to showHistorically subdued during the June-July stretch, crypto markets have entered a lull with BTC front-end implied volumes slipping under 40%, erasing the risk premium from recent geopolitical tension, Singapore-based QCP Capital noted in a Thursday market broadcast.Open interest across BTC and ETH perps remains flat, and option markets skew negative,...