Coindesk

Solana's dominant automated market maker (AMM) Raydium hit back Monday on rumors that major volume driver Pump.Fun was preparing to launch its own AMM.Abandoning Raydium whole hog would be a "strategic miscalculation" for the massively popular — and profitable — memecoin factory, core contributor InfraRAY said in a post on X. He cast doubt on the notion that Pump.Fun could replicate its success if it swaps Raydium out for in-house trading infrastructure.Token investors dumped RAY en-masse this weekend after hawkeyed observers noticed Pump.Fun was apparently testing its own AMM, presumably with the intent to replace Raydium's longstanding liquidity pools as its platform of choice. Such a move would shake up the economics of decentralized token trading on Solana.Right now, Raydium,...

U.S. authorities have seized about $31 million in crypto tied to the 2021 hack of Uranium Finance, according to a Monday X post from the Southern District of New York (SDNY).According to the post, the seizure was the result of a joint effort between SDNY and Homeland Security Investigations (HSI) in San Diego. A spokesperson for SDNY did not return CoinDesk’s request for comment before press time, and no further details about the seizure or any related investigation were immediately available.Uranium Finance was essentially a clone of automated market maker (AMM) Uniswap deployed on Binance’s BNB chain (then called Binance Smart Chain). In April 2021, a hacker exploited a bug in Uranium’s pair contracts to steal $50 million in various...

Bitcoin (BTC) continued to slide on Monday, hurt by not just by massive bearish price action in most of the rest of crypto, but also as U.S. stocks struggle to pull out of their recent downturn. Falling to about $93,900 as stocks closed, bitcoin is down 1.9% in the last 24 hours. Ether (ETH) is lower by 5.9% over the same time frame. The broader CoinDesk 20 Index is down 5.1%.Following last week's major declines, an attempted rally by the major U.S. stock averages failed Monday afternoon, with the Nasdaq closing down another 1.2% and the S&P 500 0.5%.The worst performer among the major cryptos was solana's (SOL), down nearly 10% over the past 24 hours and a whopping 41%...

Infini, a prepaid payments card issuer that offers interest on deposited dollar stablecoins, warned a hacker it had “gathered critical IP and device information” after losing almost all the value locked in its wallets.The attacker drained $49.5 million from the Hong Kong-based neobank's wallets, according to Peckshield. The company said only on Sunday it had hit $50 million in total value locked. The exploit came just days after Bybit, the second-largest cryptocurrency exchange by trading volume, saw a hacker drain its ether cold wallet and make off with nearly $1.5 billion in crypto's largest exploit.“We are closely monitoring the address involved and are prepared to take immediate action to freeze any stolen funds if necessary," Infini told the hacker...

DekaBank, a German investment bank with 377 billion euros ($395 billion) in assets under management, introduced cryptocurrency trading and custody services for institutional clients after almost two years of development.The Frankfurt-based company’s move follows regulatory approval for a crypto custody license from the Federal Financial Supervisory Authority (BaFin), while operating under the supervision of the European Central Bank (ECB), Bloomberg reported."We have the necessary experience, required licenses and a tested, ready-to-use infrastructure to support savings banks and our institutional clients," board member Martin K. Müller told Bloomberg.DekaBank, the asset manager of the country’s largest financial services group, Sparkassen-Finanzgruppe, is marketing its new offering with a focus on security and regulatory compliance, according to the report. Other cryptocurrency offerings in the...