Coindesk

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....

The Blockchain Group (ALTBG), a tech firm that brands itself as Europe’s first Bitcoin Treasury Company, announced a share-issuance program worth up to 300 million euros ($342.5 million).The capital raise is structured as an at the market (ATM) program and backed by French asset manager TOBAM, a longtime investor in both bitcoin BTC and the Paris-listed company on behalf of clients, Blockchain Group said in a press release.The program allows TOBAM to buy new shares at its discretion, based on daily market conditions. The price of each tranche will be the higher of the previous day’s closing price or its volume-weighted average price, with purchase volume capped at 21% of the day’s trading activity, the firm said.Proceeds are expected to...

Soneium, the Ethereum overlay blockchain linked to 78-year-old Japanese electronics giant Sony, unveiled a new incubator program, Soneium For All, to accelerate consumer and gaming applications within its 7 million-user blockchain ecosystem.As crypto continues its march into the mainstream, traditional technology companies, the Apple’s and Ubers of this world, are looking to the tech to commercialize their future operations.Sony Block Solutions Labs (SBSL), the builder of Soneium, used the Optimism OP stack, a fast and cheap layer linked to Ethereum for “bridging the gap between Web2 and Web3 audiences, especially for the creators, fans and community,” SBSL said.The new accelerator, which plans to open its doors in the third quarter, was created in partnership with Astar Network and Startale Cloud...