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Source-backed coverage

CRYPTO NEWS ARCHIVE

Permanently retained stories with extracted source text and completed, source-grounded AI summaries.

  1. ETHEREUMCointelegraph

    Robinhood Chain sees over $70M in ETH bridged during first week

    According to Token Terminal, over $70 million worth of ETH has been bridged to Robinhood's new layer-2 blockchain within its first week. Robinhood Chain, an Arbitrum-based EVM-compatible network using ETH as its native gas token, aims to facilitate real-world assets and is integrated with Robinhood’s tokenized stock offerings. The platform’s daily active users reached 194,000, and daily revenue has grown to $39,000, with a total value locked of approximately $83 million. Industry experts, including Hayden Adams and Andri Fauzan Adziima, see this development as a positive signal for ETH, noting that Robinhood's choice to build within the Ethereum ecosystem may reinforce ETH's role as a liquidity and settlement layer.

  2. DEFICointelegraph

    DeFi may be ‘quietly re-rating’ given outperformance against Bitcoin: Bitwise

    Bitwise reports that DeFi tokens have outperformed Bitcoin over the past month, with Bitcoin falling about 22% in June, while DeFi tokens declined only 4%, which is unusual given their typical volatility. The firm suggests this may indicate a “quiet re-rating” of the sector, as traditional institutions increasingly use DeFi protocols, leading to improved token economics and reduced gaps between usage and token value. The total value locked in DeFi has decreased by nearly 40% this year to around $70 billion, but Bitwise notes this decline is smaller than during the 2022 bear market, suggesting some resilience. Additionally, Bitwise anticipates that regulatory developments, such as upcoming stablecoin projects and the passage of relevant legislation, could influence the market in the coming months.

  3. ETHEREUMCointelegraph

    Trader loses $2M in ‘same-block backrun extraction’ exploit

    A crypto trader lost approximately $2 million after a transaction was exploited through a "same-block backrun extraction" attack, with the trader swapping around 1,117 Ether on Uniswap v3 and receiving only $14,200 worth of tokens, according to GoPlus Security. The incident involved the transaction being routed through a low-liquidity pool, enabling an Ethereum block builder to profit significantly by executing arbitrage trades within the same block. The trader was advised by Ruslan Khairullin to read the transaction route before signing, highlighting the risk of blindly approving DEX transactions. The attacker used an inflated token price to drain value before distributing the profits to the builder Titan, which earned about $1.8 million from the event.

  4. ETHEREUMCointelegraph

    Binance Sees $1.23B Outflows as ETH Withdrawals Surge

    Binance experienced a significant increase in weekly net outflows, totaling $1.23 billion during the week beginning June 29, which is a 207% rise from the previous week’s approximately $400 million, according to DefiLlama data. Ethereum withdrawals on Binance also surged to their highest level in over three years, with over 166,000 withdrawal transactions in a single day, according to CryptoQuant analyst Darkfost. The outflows coincided with a modest rebound in ETH prices of about 12.5% over the past week, trading at $1,766. Some analysts suggest that this surge may reflect long-term accumulation behavior amid regulatory uncertainties related to the EU's MiCA regulation, rather than short-term trading. Other major exchanges, such as Finex, Gate, OKX, and Bybit, also reported significant outflows during the same period.

  5. ALLCointelegraph

    Electronic Transactions Association CEO Expecting More Partnerships with Bitcoin Startups

    ETA CEO Jason Oxman indicated that members might soon recognize Bitcoin’s disruptive potential, which could lead to more partnerships between traditional electronic payment providers and Bitcoin startups. The ETA welcomed BitPay as its first virtual currency company member and expressed a commitment to embracing new technologies, anticipating more collaborations as the payments industry innovates. Oxman clarified that the ETA does not advocate for Bitcoin specifically but supports all forms of electronic transactions, and he highlighted the importance of educating members on Bitcoin’s benefits through the Bitcoin Foundation. He also noted that regulators' concerns around customer protection influence the development and acceptance of new payment technologies like Bitcoin.