Coindesk

Just two months ago, the total value of funds locked (TVL) on HyperLiquid, a decentralized derivatives exchange (DEX) that allows traders to generate returns by staking to a shared vault, sat at a record $540 million. Now, users are fleeing, TVL has slumped to $150 million and the yield has dropped to a measly 1%, in many cases, less than they'd get if they stashed their cash in a bank account.At issue is an exploit that saw one user manipulate the price of a token called JELLY and force the vault, known as Hyperliquidity Provider, into a loss. But the negative PNL wasn't the reason for the exodus. Rather it was HyperLiquid's response, which led to concerns about...

After U.S. markets enjoyed a brief gasp of relief on Wednesday, charts got ugly again on Thursday as focus shifted to a potential bigger conflict between the U.S. and China.Bitcoin (BTC), which rose more than 8% the day prior, dipped about 4% below $80,000 again on Thursday. The decline in bitcoin came alongside a renewed plunge in the Nasdaq, which was lower by 5.5% following yesterday's 12% rally as traders are assessing U.S. President Donald Trump’s next steps in his tariff policy.Crypto stocks also took a hit. MicroStrategy (MSTR) was down 11.2%, and Coinbase (COIN) and Marathon Digital (MARA) fell 8.1% and 9.3%, respectively.Already sharply lower on the session, the stock sell-off escalated after a tweet circulated saying that a...

In the Ancient Greek tale of Oedipus, great rewards awaited travelers able to solve difficult riddles, but a powerful sphinx posed the riddles and devoured those who failed to solve them. Similarly, in ancient crypto times, circa 2017, blockchain technology stood to revolutionize finance and other fields. But two challenges stood in the way of this technology enjoying its full potential: (1) securities laws that don’t easily map onto decentralized systems, and (2) a securities regulator hostile to digital assets, which often posed grave risks to those who tried to solve the first challenge.Today, the sphinx has resolved to be more helpful, but the riddles remain. The Securities and Exchange Commission’s (“SEC”) Crypto Task Force has stated that the agency’s...

Bitcoin (BTC), currently around $81,000, could soar as high as $250,000 as early as this year with tech giants like Microsoft (MSFT) and Apple(AAPL) entering the crypto arena, according to Charles Hoskinson, the founder of the Cardano blockchain.Hoskinson's comment echoes the sentiments of investors including Fundstrat’s Tom Lee and venture capitalist Tim Draper as well as financial giant Standard Chartered, who have mentioned that level as a target for the world’s biggest cryptocurrency in past years.In an interview with CNBC, Hoskinson expressed optimism about bitcoin’s future despite recent market turbulence triggered by President Donald Trump’s reciprocal tariffs policy, saying he believed the asset could rise that high “by the end of this year or next year” as tariff concerns...

After three years on mainnet, Aptos still occupies an unusual position in the blockchain ecosystem. Born from Meta's abandoned Libra project with backing from top-tier VCs, it entered the market with high expectations and even higher valuations. Aptos is known as a high-throughput, relatively cheap chain, built on the Move programming language for enhanced security. Yet while its technical capabilities are undeniable, the project's path to widespread adoption remains less certain in an industry where the gap between technical superiority and actual usage often seems unbridgeable.Ash Pampati is a speaker at Consensus 2025, taking place in Toronto May 14-16.I sat down with Ash Pampati, the head of ecosystem in Aptos, to discuss how the project is navigating these challenges, what...