Author: Tristan Lodenberg

Drift revealed that the $280 million exploit on its Solana based trading platform was caused by a highly sophisticated administrative takeover involving weeks of preparation. The platform said a malicious actor gained unauthorized access using durable nonce accounts, allowing pre-signed transactions to be executed later. According to Drift, the attacker secured multisig transaction approvals in advance, likely through social engineering or misrepresentation of transactions. This enabled the takeover of Security Council administrative powers, allowing the attacker to introduce a malicious asset and remove withdrawal limits. Drift confirmed the incident was not caused by a smart contract flaw or seed phrase…

Nishad Singh, the former head of engineering at FTX, has agreed to pay $3.7 million to resolve a lawsuit filed by the US Commodity Futures Trading Commission (CFTC) over his alleged role in the crypto exchange’s collapse and the misappropriation of user funds. CFTC Orders Disgorgement and Trading Bans Under the supplemental consent order, Singh will pay $3.7 million in disgorgement and faces a five-year ban on trading in markets along with an eight-year registration ban, preventing him from obtaining a license to operate in the sector. The CFTC stated that the order resolves its enforcement action against Singh and…

Alabama has become the second US state, after Wyoming, to grant decentralized autonomous organizations (DAOs) legal recognition under the Decentralized Unincorporated Nonprofit Association (DUNA) Act. Senate Bill 277, introduced by Republican Senator Lance Bell in February, passed the House 82-7 with 16 abstentions on March 17 and was signed into law by Governor Kay Ivey. Legal Protections and Governance for DAOs The DUNA Act provides DAOs with legal status and limited liability protections, allowing decentralized communities to build, govern, contract, and scale in the real world. DAOs qualifying under the law must have at least 100 members united for a…

AI and crypto company Genius Group has sold its remaining Bitcoin holdings in Q1 2026 to pay off $8.5 million of debt, marking a significant shift from its previous “Bitcoin first” strategy. The company stated it plans to rebuild its Bitcoin treasury when market conditions improve. Shift from “Bitcoin First” Strategy In November 2024, Genius Group had pledged to hold 90% or more of its reserves in Bitcoin. At the start of 2026, the company held 84 BTC valued at approximately $5.7 million, but these holdings have gradually declined since April 2025, when a US court temporarily barred it from…

Japan based Metaplanet has strengthened its Bitcoin accumulation strategy by acquiring 5,075 BTC during the first quarter of 2026 for approximately $398 million. The purchase reflects an average acquisition price of about $78,000 per Bitcoin and highlights the company’s continued focus on expanding its digital asset reserves. As of March 31, 2026, Metaplanet holds a total of 40,177 BTC, acquired for roughly $3.9 billion at an average cost basis of approximately $97,000 per Bitcoin. The company also reported generating a Bitcoin yield of 2.8% year-to-date, indicating steady performance from its treasury strategy. Metaplanet Surpasses MARA Holdings in Global Bitcoin Treasury…

Bitcoin and other risk assets have been volatile amid Donald Trump’s shifting rhetoric on Iran. Traders react to each statement peace comments lift markets while hawkish remarks push them down—but political noise is masking real-world fundamentals. Strategic Petroleum Reserves Near Depletion The International Energy Agency coordinated a historic release of 426 million barrels from strategic petroleum reserves to offset a 4.5–5 million barrel per day shortfall caused by near-total disruption of the Strait of Hormuz. Analysts warn these reserves may be exhausted within weeks, potentially doubling the supply deficit to 10–11 million barrels per day. The Saudi Arabia called this…

The Ethereum network has reached a major milestone, recording over 788,000 daily active addresses. Approximately 255,000 new addresses are added each day, signaling strong growth in user adoption and engagement. Network Utility and Smart Contract Adoption This surge highlights Ethereum’s continued utility in smart contracts and decentralized applications (DeFi). Despite Ethereum’s price stabilizing around $2,150, data from Santiment shows that network activity remains resilient, suggesting the platform continues to attract both developers and investors. The sustained increase in wallet creation is considered a leading indicator of demand, reflecting the Ethereum ecosystem’s operational strength. Analysts note that the divergence between high…

Coinbase Chief Legal Officer Paul Grewal said lawmakers are close to reaching an agreement on the stablecoin yield debate within the proposed Clarity Act. Speaking during an interview on Fox Business, Grewal stated that meaningful progress is being made despite ongoing disagreements about whether stablecoin platforms should be allowed to offer rewards on idle balances. Grewal emphasized that negotiations are nearing completion, noting that policymakers increasingly recognize the importance of balancing consumer rewards with broader regulatory safeguards. He added that the legislation aligns with Donald Trump’s stated goal of positioning the United States as a global leader in cryptocurrency innovation.…

The US Department of the Treasury has issued a notice of proposed rulemaking seeking public input on state-level stablecoin governance frameworks under the Guiding and Establishing National Innovation for US Stablecoins Act. The proposal arrives as the market capitalization of dollar-pegged stablecoins approaches $300 billion, highlighting the growing importance of regulatory clarity in the sector. Under the GENIUS Act framework, states will have the authority to regulate stablecoin issuers with a market capitalization below $10 billion. However, state-level regulations must not significantly deviate from federal standards and must produce outcomes that are equally strict or more protective than federal rules.…

Major cryptocurrencies fell sharply after Donald Trump’s primetime address signaled a tougher stance toward Iran, undermining a short-lived global market rally. Bitcoin dropped 2.2% to $66,609, giving back gains from Tuesday. Ether fell 2.2% to $2,056, BNB declined 3.9% to $591, XRP lost 2.5%. Global Equities and Oil Prices Impacted Trump’s speech offered no path to de-escalation. Brent crude jumped 5% to above $106 a barrel. Asian shares fell 2.1%, while U.S. and European equity futures dropped more than 1.2%. The US dollar strengthened, and Treasuries declined amid inflation concerns. The Strait of Hormuz, closed since mid-March, would reopen “naturally”…