When Solana launched in 2020, co-founder Anatoly Yakovenko had the grand vision of becoming the Nasdaq on the blockchain — the home for onchain financial markets. Five years later, the memecoin trading activity we’re seeing on Solana is more akin to penny stocks than the tech giants that make up the Nasdaq index, like Apple…

Cryptocurrency exchange Bybit has suffered the largest hack in crypto history, losing more than $1.4 billion in liquid-staked Ether (stETH), Mantle Staked ETH (mETH) and other ERC-20 tokens. The attack highlights that even centralized exchanges with strong security measures remain vulnerable to sophisticated cyberattacks, analysts say. Blockchain security analysts, including Arkham Intelligence and onchain sleuth ZachXBT,…

What is Hyperliquid? Hyperliquid is a decentralized perpetual exchange operating on its own high-performance layer-1 blockchain, HyperEVM. It specializes in perpetual futures trading, allowing users to speculate on crypto prices without holding the underlying assets.  The HyperEVM mainnet has been launched with smart contract capabilities while preserving its fast, low-latency trading. A key feature of Hyperliquid is…

The US Securities and Exchange Commission has agreed to dismiss its lawsuit against centralized exchange firm Coinbase, which had accused the company of operating as an unregistered securities broker. According to an announcement from Coinbase, the dismissal is still subject to approval by an SEC commissioner before the suit is officially withdrawn. Coinbase CEO Brian Armstrong said: “If…

Cryptocurrency exchange Bybit was exploited for more than $1.4 billion on Feb. 21, making it the single largest hack in the industry’s 15-year history. In value terms, the single attack represented more than 60% of all crypto funds that were stolen in 2024, based on Cyvers data. Hacks and scams have become commonplace in crypto, creating…

The US Securities and Exchange Commission has approved an application from Figure Markets for a yield-bearing stablecoin that will allow users to earn interest payments on their holdings — signaling the regulator’s intent to accommodate the rapidly growing stablecoin market. According to regulatory filings that appeared on the SEC’s website on Feb. 18, exchange operator Figure Markets…

The US Securities and Exchange Commission announced on Feb. 20 the formation of a new group to combat cyber misconduct, including fraud involving blockchain and crypto assets. According to a press release, the new group, called the “Cyber and Emerging Technologies Unit,” will focus on protecting retail investors from bad actors in the emerging technologies space. The…

Data from app analytics platform AppsFlyer shows that cryptocurrency applications saw a sharp increase in adoption in the United Arab Emirates in 2024. According to AppsFlyer, downloads of the top 49 crypto apps in the UAE reached 6.2 million in 2023. That jumped to 15 million in 2024, a 41% increase. Most of these downloads…

Coinbase has launched Solana futures contracts on its regulated US derivatives exchange, the cryptocurrency trading platform said on Feb. 19. Regulated by the Commodity Futures Trading Commission (CFTC), Coinbase’s Solana futures contracts aim to hasten SOL institutional adoption and may help pave the way for an eventual SOL exchange-traded fund (ETF) launch in the US….

The Hong Kong Securities and Futures Commission (SFC) has introduced a new roadmap aimed at positioning the city as a global cryptocurrency hub. On Feb. 19, the SEC announced the “ASPIRe” roadmap in hopes of future-proofing Hong Kong’s virtual asset ecosystem. It responds to challenges such as fragmented liquidity, regulatory arbitrage and market volatility while fostering innovation…