Crypto Industry News & Market Trends

Upbit Postpones IRYS Listing By 30 Minutes

Tech　　Upbit Postpones IRYS Listing By 30 Minutes　　South Korean cryptocurrency exchange Upbit has announced a brief delay in the listing of Iris (IRYS). The start of trading, which was originally scheduled for 11:00 a.m. UTC today, has been pushed back to 11:30 a.m. UTC.　　Revised Trading Schedule　　The delay, confirmed via an official notice on Upbits platform, is a 30-minute postponement. While the exchange did not immediately provide a specific reason for the change, such adjustments are not uncommon during the initial listing process, often related to final technical checks or order book preparation. Traders who had prepared for the original time are advised to adjust their strategies accordingly.　　What This Means for Traders　　For those looking to trade IRYS, the key takeaway is the updated timeline. The delay is short, but it can impact short-term trading plans, especially for those using automated bots or aiming to be among the first to execute trades. The revised schedule provides a clear new window for market participants to prepare.　　Market Context　　Upbit is one of the largest and most influential cryptocurrency exchanges in South Korea, and its listing decisions often generate significant trading volume. The listing of a new token like Iris (IRYS) typically attracts attention from both retail

05-15Industry

THORChain Pauses Trading After Suspected $10M Exploit

Tech　　THORChain Pauses Trading After Suspected $10M Exploit　　Early estimates suggest that more than $10 million may have been stolen, although the exploit has not yet been officially confirmed. The incident only adds to a series of previous operational and security issues surrounding the protocol.　　THORChain Hit by Suspected Exploit　　Cross-chain liquidity protocol THORChain temporarily trading activity after blockchain investigators raised concerns over a suspected exploit that may have impacted multiple blockchain networks, including Bitcoin, Ethereum, BNB Smart Chain, and Base.　　The incident was first pointed out by well-known on-chain security researchers ZachXBT and , who suspicious wallet activity tied to alleged theft addresses operating on Bitcoin and EVM-compatible chains. Early estimates suggest that the exploit may have resulted in losses of more than $10 million, although investigators made it clear that the attack had not yet been fully confirmed at the time of reporting.　　The latest disruption only adds to a growing list of operational and security-related that have surrounded THORChain over the past two years. The protocol is designed to facilitate decentralized cross-chain swaps without intermediaries, but it has come under scrutiny because of its role in facilitating large asset transfers between different blockchain ecosystems.　　While this functionality has made THORChain one of the more

05-15Industry

Venom Foundation Introduces Protocol-Level Fee Burning to Reduce $VENOM Supply

Venom Foundation has announced a major protocol upgrade that introduces a fee-burning mechanism for the $VENOM token, a move designed to tie token supply more closely to actual network activity. Under the new system, 50 percent of qualifying network fees will be sent to an irreversible burn address and permanently removed from circulation.　　Unlike a buyback program, which depends on separate market activity and often sits outside the core protocol, Venoms burn mechanism is built directly into the network itself. That means every eligible transaction will automatically trigger the rule, with no manual intervention and no discretionary decision-making involved. Once tokens are burned, they cannot be recovered.　　The foundation says the design is intended to create a more transparent and usage-driven economic model. In practical terms, the more activity the network sees, the greater the amount of $VENOM that will be taken out of circulation. A slower period on the chain would naturally result in a smaller burn, while a busier period would accelerate the reduction in supply. Over time, that creates a feedback loop in which token economics reflect real network demand rather than only market sentiment or external speculation.　　Broader Technical Upgrade　　The upgrade also fits into Venoms existing technical architecture. The

05-15Industry

STRC Hits Record $1.53B Trading Volume, Says Michael Saylor

Tech　　STRC Hits Record $1.53B Trading Volume, Says Michael SaylorMichael Saylor said STRC recorded an all-time high volume day with $1.53B in liquidity.Peter Schiff renewed criticism of STRC, calling the preferred shares a centralized Ponzi.Strategys BTC buys slowed to 535 BTC last week, but traders expect buys above 10K soon.　　Michael Saylor highlighted STRCs record trading activity after the preferred stock posted what he described as an “all-time high volume” day with $1.53 billion in liquidity and just “two cents of volatility.” Strategy CEO Phong Lee also referred to the session as a “record day” on X.　　The surge in activity came as traders positioned around Strategy‘s preferred shares ahead of the May 15 ex-dividend date. Trading volume in STRC has remained elevated for weeks as investors continue funding Strategy’s Bitcoin accumulation strategy through the yield-bearing instrument.　　Bitcoin Funding Model Draws More Attention　　The trading surge comes as Strategy faces growing debate over how it finances Bitcoin purchases.　　The company currently holds 818,869 BTC and continues to raise capital through common stock sales and STRC issuance. Critics, led by veteran investor Peter Schiff, argue the structure depends too heavily on constant demand for new shares.　　Schiff recently called STRC a “classic centralized Ponzi” and claimed investors are

05-15Industry

Thorchain Exploited? Trading Paused Amid Risk of Enormous Attack

Tech　　Thorchain Exploited？ Trading Paused Amid Risk of Enormous Attack　　Cross-chain DeFi protocol THORChain has suspended trading, following what appears to be a significant multi-chain exploit that may have depleted over $10 million in cryptocurrency assets. Suspicious withdrawals involving Bitcoin, Ethereum, BNB Chain, and Base-linked assets have been reported by security researchers and on-chain investigators such as PeckShield.　　Early tracking data indicates that the attackers allegedly took about 36.75 BTC, or about $3 million, along with an additional $7 million in assets that were bridged across several chains. Both Bitcoin and Ethereum-compatible networks publicly known wallet addresses were linked to the stolen funds.　　Following the incident, THORChain stopped trading, probably to avoid further liquidity drains or cascading exploits across linked pools. Because THORChain serves as essential infrastructure for decentralized cross-chain swaps, disruptions may affect all of the ecosystems, wallets, aggregators, and liquidity suppliers.　　DeFi security is in trouble　　DeFi security is already experiencing hardship. Exploits, bridge attacks, governance breaches, and wallet-draining malware campaigns have plagued the industry in recent months. When a foundational liquidity layer fails, interconnected DeFi systems can quickly spread contagion, as demonstrated by recent attacks on major protocols.　　Bitcoin (BTC) Says Goodbye to $80,000, Dogecoin (DOGE) Spikes 50% Hinting at New Rally, Toncoin (TON)

05-15Industry

Thorchain Loses Nearly $11M as Attackers Poison Vault Churn Process Across 4 Chains – Bitcoin News

Bitcoin　　Thorchain Loses Nearly $11M as Attackers Poison Vault Churn Process Across 4 Chains – Bitcoin News　　Onchain investigator ZachXBT first flagged the incident via his Telegram channel, placing initial losses above $7.4 million before revised estimates pushed the total higher. The breach hit vaults on , Ethereum, Smart Chain, and Base.　　The attack method centered on a vault churn, a standard Thorchain process in which operators rotate in and out while assets are redistributed using threshold signature schemes. Attackers appear to have injected malicious addresses into that process, tricking the system into authorizing transfers it should not have approved.　　Stolen assets include roughly 3,443 valued at $7.77 million, 36.85 worth approximately $2.97 million, 96.6 worth around $66,000, and additional tokens, including early reports of 798,000 USDC. Three theft addresses were publicly flagged across and Ethereum for tracking by security firms.　　operators responded quickly by triggering Thorchain‘s decentralized global emergency halt through the protocol’s Mimir governance settings. The halt suspended swaps, vault churning, and signing on affected chains beginning around block 26190429. RUNE transactions on the native chain continued in limited capacity.　　RUNE, Thorchain‘s native token, fell 12 to 15% within hours of ZachXBT’s alert. The token dropped from around $0.58 to roughly $0.50 across major

05-15Industry

STRC Hits Record $1.53B Trading Volume, Says Michael Saylor

Tech　　STRC Hits Record $1.53B Trading Volume, Says Michael SaylorMichael Saylor said STRC recorded an all-time high volume day with $1.53B in liquidity.Peter Schiff renewed criticism of STRC, calling the preferred shares a centralized Ponzi.Strategys BTC buys slowed to 535 BTC last week, but traders expect buys above 10K soon.　　Michael Saylor highlighted STRCs record trading activity after the preferred stock posted what he described as an “all-time high volume” day with $1.53 billion in liquidity and just “two cents of volatility.” Strategy CEO Phong Lee also referred to the session as a “record day” on X.　　The surge in activity came as traders positioned around Strategy‘s preferred shares ahead of the May 15 ex-dividend date. Trading volume in STRC has remained elevated for weeks as investors continue funding Strategy’s Bitcoin accumulation strategy through the yield-bearing instrument.　　Bitcoin Funding Model Draws More Attention　　The trading surge comes as Strategy faces growing debate over how it finances Bitcoin purchases.　　The company currently holds 818,869 BTC and continues to raise capital through common stock sales and STRC issuance. Critics, led by veteran investor Peter Schiff, argue the structure depends too heavily on constant demand for new shares.　　Schiff recently called STRC a “classic centralized Ponzi” and claimed investors are

05-15Industry

NASDAQ 100 extends losses with 2.1% drop as inflation fears rattle tech stocks

Tech　　NASDAQ 100 extends losses with 2.1% drop as inflation fears rattle tech stocks　　The NASDAQ 100 slid 2.1% in recent trading, extending a streak of losses that has rattled investors across both traditional equities and digital assets. The selloff hit information technology stocks hardest, with the sector leading the broader decline as Wall Street digests the uncomfortable reality that the Federal Reserve may not be cutting rates anytime soon.　　The broader Nasdaq Composite also dropped 1.39%, confirming this isnt just a narrow blip.　　Inflation data changes the calculus　　Recent US inflation prints came in hotter than expected, pushing back the timeline for rate cuts that many had treated as a near-certainty. Thats a problem for growth stocks, which are essentially long-duration bets on future earnings. When interest rates stay elevated, the present value of those future cash flows shrinks, making it harder to justify paying premium prices for companies whose biggest profits are years away.　　Tech stocks, which dominate the NASDAQ 100, are particularly sensitive to this dynamic. The index is heavily weighted toward companies that trade on growth expectations rather than current profitability.　　The selloff wasnt entirely uniform, though. Take-Two Interactive managed to buck the trend, rising 6.8% intraday even as the rest of the

05-15Industry

Bybit captures 77% of CEX market share for BILL token trading

BILLs broader market activity has also drawn attention, with over $2.19 billion in 24-hour global trading volume recorded across all venues.　　Billions describes itself as a global human and AI network built on mobile-first verification, designed to confirm the identity and uniqueness of both humans and AI agents while offering users personalized experiences and rewards.　　To coincide with the tokens momentum, Bybit is running a Token Splash promotion distributing a total of 29,000,000 BILL across its Spot and Alpha platforms with 20,000,000 BILL allocated to Spot users and 9,000,000 BILL to Alpha users.　　Bybits fast listing strategy, deep liquidity, and tight spreads were cited as factors behind its dominance in early-stage token markets.　　The post Bybit captures 77% of CEX market share for BILL token trading appeared first on Finbold.

05-15Industry

BREAKING: THORChain Suffers $10M Exploit Across Bitcoin, Ethereum, BSC, Base Chains

Bitcoin Ethereum　　BREAKING: THORChain Suffers $10M Exploit Across Bitcoin, Ethereum, BSC, Base Chains　　THORChain, a decentralized cross-chain liquidity protocol, has paused trading after blockchain security researchers flagged an exploit worth over $10 million. The protocol has reportedly suffered an exploit across Bitcoin, Ethereum, BSC and Base. As a result, RUNE price crashed 12% in a few hours.　　THORChain Hit By $10M Crypto Losses in Exploit　　On-chain investigator ZachXBT on May 15 flagged an exploit on THORChain, claiming losses exceeding $10 million. The funds are stolen across multiple major blockchains, including Bitcoin, Ethereum, BNB Smart Chain (BSC), and Base.　　In response, THORChain has halted all trading and swaps via its emergency protocol to contain the damage. The exploit involved large unauthorized outflows from THORChains router contracts across the affected chains.　　Many security researchers and analytics platforms such as PeckShieldAlert revealed the attackers wallets. Notably, the wallets hold 36.85 BTC, 3,443 ETH, and 96.6 BNB, along with other tokens like USDT, USDC, and WBTC, according to Arkham data.　　THORChain Exploiter Wallets Crypto Assets. Source: Arkham　　The incident triggered THORChains built-in halt mechanism, where nodes pause operations upon detecting the exploit to protect liquidity providers (LPs). This is reportedly the second notable security event for THORChain this year, amplifying concerns about

05-15Industry