Author: James Wilson
South Africa does not have a “strong immediate need” for a central bank digital currency (CBDC) for the time being, according to the country’s central bank. Summary South Africa’s central bank has concluded there is no strong immediate need for a retail CBDC. The central bank remains open to exploring retail CBDC use cases in the future. Stablecoins and cryptocurrencies pose major risks to the country, according to the central bank. The South African Reserve Bank has published a position paper on the viability of a retail CBDC after several years of research, experimentation, and stakeholder consultations, and has concluded…
BitMine Immersion Technologies, the Nasdaq-listed crypto treasury firm led by Tom Lee, bought 14,618 ETH worth about $44.34 million. Summary BitMine bought 14,618 ETH through BitGo at an average price of $3,033 per coin. The firm now holds 3.63M ETH, about 3% of supply, moving closer to its 5% target. BitMine plans to stake ETH via its Made in America Validator Network pilot in 2026, supporting long-term treasury growth. The latest purchase went through institutional custodian BitGo at an average price of roughly $3,033 per ETH, according to blockchain analytics platforms. This move continues BitMine’s plan to build a large…
Bitcoin is rebounding after a sharp sell-off, with analysts highlighting reclaimed support, a filled fair value gap, and a looming imbalance zone that could define the next major move. Summary Crypto Patel says bitcoin has filled a fair value gap, tapped a bearish order block, and may push into a higher imbalance zone before any deeper correction. A sustained close above a higher resistance area would invalidate the current bearish structure and could trigger a new all-time-high trend, according to patel. Analyst the boss notes bitcoin has defended local support, but warns that without stronger volume and momentum confirmation, the…
Chrome Solana extension ‘Crypto Copilot’ covertly diverts user funds in swaps, highlighting browser crypto security risks. Summary Crypto Copilot Chrome extension embeds hidden transfer instructions in Solana swap transactions. Cybersecurity firm Socket uncovered secret fund diversions to attacker’s wallet via concealed commands. Incident highlights browser-based crypto tool vulnerabilities and need for user transaction verification. A Chrome browser extension designed for Solana cryptocurrency trading secretly diverts funds from users by embedding hidden transfer instructions in swap transactions, according to a report from cybersecurity firm Socket’s Threat Research Team. The extension, named Crypto Copilot, enables users to trade SOL (SOL) tokens directly…
Ethereum price has broken out of a bullish reversal pattern as the supply of tokens held in exchanges continued to decline to a record low. Summary Ethereum price is up 7% over the past week. Exchange reserves for ETH have dropped to multi-year lows. A falling wedge breakout had been confirmed on the daily chart. According to data from crypto.news, Ethereum (ETH) price dropped for nearly two weeks from $3,633 recorded on Nov. 10 to its monthly low of $2,680 on Nov. 21. It has since rebounded back above $3,000, a level that analysts have noted it must hold for…
Everdawn labs’ tether-pegged omnichain stablecoin usdt0 has surpassed $50b in transfers across 15 networks, with over one-fifth of volume occurring in the last month. Summary Usdt0, launched in January 2025 via layerzero’s omnichain fungible token standard, extends tether exposure to chains where usdt is not native. The token has processed more than 415,000 transactions across networks such as ethereum, arbitrum, ink, sei, bitcoin layers, conflux, plasma, hyperliquid, and solana. Positioned as “monetary mesh infrastructure,” usdt0 underpins payments, remittances, and institutional settlement in everdawn labs’ wider omnichain strategy. Everdawn Labs’ omnichain stablecoin USDT0 has surpassed $50 billion in cumulative transfers since…
Ethereum layer-2 megaeth will refund over $400m after a misconfigured multisig and third-party bridge issues derailed its usdm pre-deposit launch. Summary Megaeth will return all pre-deposit funds after technical failures pushed usdm deposits above $400 million. A misconfigured multisig let an external party reopen the bridge early, after outages at a third-party provider. Refunds await a contract audit, with a redesigned usdc-usdm bridge planned before the frontier mainnet beta. Ethereum Layer-2 project MegaETH announced it will refund all funds raised through its Pre-Deposit Bridge following operational failures that disrupted the launch of its native stablecoin, USDm, according to a statement…
Hyperliquid price is facing rising pressure as a major token unlock collides with a weakening multi-month downtrend. Summary HYPE trades near $35 after weeks of declining volume and fading derivatives activity. A $351M cliff unlock for insiders arrives as the token sits inside a vulnerable descending channel. Key support at $33–35 is weakening, raising the risk of a slide toward the $28–30 zone. Hyperliquid traded at $35.24 at press time, down 1.7% over the past day and extending a slide that has pulled the token 27% down over the past month. It now sits 41% below its September peak of…
Justin Sun has stepped further into the center of the $456 million TUSD reserve dispute with a public address in Hong Kong. Summary Sun outlined new claims about how TUSD reserves were pushed into high-risk, unauthorized investments between 2021 and 2022. He said he injected nearly $500M earlier this year to stabilize TUSD and welcomed Dubai’s global asset freeze tied to the disputed funds. Legal pressure is building in Hong Kong and Dubai as courts work to determine ownership of the diverted $456M. Justin Sun used a rare in-person media briefing in Hong Kong to give new details about the…
A new proposal on Balancer’s governance forum sets the stage for how the protocol plans to handle the next phase of its recovery effort. Summary Balancer has proposed a framework to distribute $8M in rescued assets after the V2 exploit. Whitehats would receive 10% bounties, while LP repayments would be pro-rata and paid in-kind. The Nov. 3 attack drained over $128M, prompting coordinated recoveries and community-wide mitigation efforts. Balancer has outlined a reimbursement plan that would return roughly $8 million in rescued assets to liquidity providers affected during the v2 exploit. The Nov. 27 proposal is the protocol’s first concrete…