Coindesk

The launch of Bitcoin in 2009 created a resilient and decentralized monetary asset. Early adherents rallied around it as a singular innovation — immutable, fixed-supply, and leaderless. Over time, this coalesced into a belief system: Bitcoin maximalism. The argument was simple. Bitcoin came first. It had the most Proof-of-Work security. The most conservative monetary policy. All other assets were distractions or regressions.But that framing increasingly diverges from how Bitcoin is now being applied in practice.Interoperability Becomes the New NormToday, the crypto ecosystem is no longer a collection of isolated silos or, at least, it needn’t be. Interoperability is the backbone of Web3. The same technologies that maximalists once dismissed, like wrapped bitcoin and cross-chain bridges, are now exposing the limitations...

Crypto wallet infrastructure company Turnkey has raised $30 million in Series B funding led by Bain Capital Crypto, Fortune reported on Monday.Turnkey, which was co-founded by former Coinbase employees Bryce Ferguson and Jack Kearney, aims to help developers build user-friendly wallets using application programming interfaces (APIs).This can help wallets become more streamlined and easy to use, Ferguson said.“We’re moving from this world of these slow, clunky systems that were designed for buying and holding crypto to very high throughput, machine-based transactions,” he said, according to Fortune's report. The company counts prediction market platform Polymarket, non-fungible token (NFT) marketplace Magic Eden and Stripe-owned stablecoin firm Bridge among its clients. The funding also included contributions from Lightsped Faction and Galaxy Ventures, who...

Sui-based decentralized exchange (DEX) Cetus Protocol is back online following a 17-day outage spurred by last month's $223 million exploit.The protocol recovered around $162 million worth of stolen funds and is continuing legal action against the attacker, who did not respond to the DEX's requests to negotiate.Sui stepped in to compensate Cetus for the initial losses, issuing a loan to reimburse impacted users on May 28. DefiLlama data shows that Cetus' total value locked (TVL) was $284 million before the exploit and is now down to $124 million.The attacker exploited a flaw in Cetus' shared math library contract, tricking the protocol into believing that one token was worth millions of dollars.Despite attempts to negotiate and come to a settlement, the...

Solana’s SOL SOL posted a solid recovery over the past 24 hours, rising as much as 4.83% before retreating to trade around $152.16. While volatility remains elevated, the cryptocurrency has formed a pattern of higher lows, suggesting underlying strength amid a fragile macro backdrop.The broader market remains focused on renewed trade talks between the United States and China, which kicked off Monday in London. The meetings bring together top officials, including U.S. Commerce Secretary Howard Lutnick and Chinese Vice Premier He Lifeng, to address longstanding tensions over tariffs and tech restrictions. While the two sides struck a temporary truce last month, both have since accused each other of backsliding. Analysts say the rare earth export curbs and AI chip controls...

Shiba inu (SHIB) remains locked in a downtrend despite recovering from overnight lows, as the sharp drop in the "daily burn" rate has dented deflation prospects.The token has recovered to trade near $0.000012650 at the time of writing, having reached a low of $0.00001234 during the Asian hours. Still, the downtrend identified by trendlines connecting May 12 and May 23 highs and the low reached on May 17 remains intact.SHIB's daily burn rate dropped by 63%, threatening to derail the progress toward deflationary tokenomics, while trading volume surged by 78%. The daily burn rate refers to the number of SHIB tokens permanently destroyed or removed from circulation each day.Token burns are widely used to introduce a deflationary appeal to cryptocurrencies....