Balancer fork’s 6 million BAL ask could cut holders’ redemption value

MAXYZ, a group of former Balancer contributors, is asking for up to 6 million currently non-circulating BAL to seed a successor protocol. If the granted tokens reach other eligible holders before Balancers proposed wind-down redemption snapshot, the same treasury would be divided among more BAL. In exchange, MAXYZ proposes a contingent allocation from a future fork to the Balancer treasury, an asset with no realized value today.  The fork proposal, posted Sept. 20 and expanded in a Sept. 23 FAQ, sits beside a separate wind-down plan to let BAL holders burn their tokens for a pro rata share of the DAOs remaining assets. Neither forum proposal by itself transfers tokens, changes pool operations or gives the fork rights to code. The financial question for an old holder is how much of the grant would become redeemable, and whether a possible future stake in the fork compensates for a smaller share of the old treasury.  What six million BAL would change  MAXYZ identifies about 3.5 million BAL in the treasury, 1.6 million in a Balancer Labs fundraise safe and 928,000 in a Labs team safe as its proposed seed. Its Sept. 23 FAQ proposes taking half the grant upfront and the rest, up to

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Shiba Inu 657% Burn Rate Surge Sends 15.16 Million SHIB to Dead Wallets

Shiba Inu burn page shows a 657% rise in daily SHIB burn rate as millions of SHIB sent to dead wallets.  15.16 million SHIB tokens have been burned in the last 24 hours, causing an uptick in the daily burn rate. This marked a deviation from that seen at the weeks start when Shiba Inus burn activity flattened.  On September 24, 2026, just 227,777 SHIB were burned; this figure slightly increased on September 25 with 2,184,538 SHIB burned.  Several transactions contributed to the 15.16 million SHIB burn figure in the last 24 hours. In recent hours, a total of 3,887,908 SHIB tokens were burned at once. Another 1,080,682 SHIB tokens were burned in a single transaction, Shibburn reported a few hours back. A total of 10,007,239 SHIB was also sent to dead wallets in a single transaction.  99.16 million SHIB was burned in the last seven days, while 383.92 million SHIB was burned in the last 30 days, with Coinbase being the largest SHIB burner in this timeframe.  A total of 410,844,369,470,023 SHIB has been burned so far, representing 41.08% of Shiba Inus initial supply of 1 quadrillion tokens.  SHIB price action  At the time of writing, SHIB was up 1.81% in the last 24 hours to

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US and China Open Cold War-Style AI Hotline

The US and China now have a hotline for artificial intelligence (AI). The White House announced it on Friday, after Chinese President Xi Jinpings state visit to Washington.  Whether the line slows the AI race is another question. Washington says its own AI push will not ease off.  Sponsored  Sponsored  A Cold War-Style Phone Line for AI  According to the White House document, a new US-China Super Intelligence Dialogue will study the risks and benefits of AI. The first talks are due by November. A separate channel will handle AI incidents.  US Trade Representative Jamieson Greer, explained the channel with a Cold War comparison.  “I think of like the red phone between the Kremlin and the White House during the Cold War,” CBS reported.  Xi said AI should develop “always under human control,” according to CBS.  However, hours before the talks, Trump posted a different message on Truth Social.  “Super Intelligence (SI) will be a big topic of discussion, but I want to leave it exactly where it is. That is Chinas position also. Our guardrail is the DOJ!”  Sponsored  Sponsored  Still, talking does not mean slowing down. BeInCrypto reported on September 16 that Treasury Secretary Scott Bessent had opened AI risk talks with China. At the same time, he insisted the US

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Fed stablecoin proposal would make circulation a capital cost for supervised issuers

A hypothetical payment stablecoin issuer within the Federal Reserves proposed supervisory scope, with $1 billion in circulation and no revenue from activities outside its reserve assets, would start with a $20 million baseline operational-risk capital charge under the Feds proposal announced Sept. 24. A separate loss-history adjustment and any other applicable capital charges would still have to be applied. The issuer would also need reserves backing its coins.  The proposal gives the growth of a stablecoin a direct capital consequence: more coins outstanding mean a larger baseline operating-risk charge, even if the issuer earns nothing from custody or other activities. The formula would apply to approved stablecoin-issuing subsidiaries of insured state member banks and to certain qualifying state-chartered issuers that transition to Fed supervision. The Office of the Comptroller of the Currencys pending proposal takes a different route for issuers under its jurisdiction, using a capital amount tailored to each business and a separate pool of liquid assets tied to expenses.  How the Feds proposed charge grows  For the first $20 billion of payment stablecoins outstanding, the Fed would calculate the issuance portion of baseline operational-risk capital at 2%. The rate would fall to 1.5% on the next $30 billion and 1% on

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Nearly $15B is moving off LayerZero, now a $292M lawsuit puts its security model on trial

Evercrest Technologies, the company behind KelpDAO, has sued LayerZero Labs, its Canadian affiliate, and CEO Bryan Pellegrino in British Columbia over Aprils $292 million rsETH exploit.  The claim alleges negligent misrepresentation, negligence and defamation, seeks aggravated and punitive damages, and says Kelp users have withdrawn more than $650 million since the attack.  Pellegrino has called the suit meritless. By Aug. 4, projects tied to roughly $14.5 billion in assets had announced moves from LayerZero to Chainlinks CCIP, nearly 50 times the amount stolen.  The lawsuit now asks a court to settle a responsibility dispute that customers have been pricing on their own since April.  Two failures had to line up  On April 18, attackers tricked LayerZeros verifier into approving a forged cross-chain transfer. LayerZeros incident report traces the intrusion to a developer who was socially engineered into cloning a malicious GitHub repository in March.  The attackers reached LayerZeros RPC environment, poisoned two internal nodes, and knocked an external RPC provider offline, so the verifier signed a message built on false source-chain data and 116,500 rsETH left Kelps bridge.  That compromise succeeded because Kelps bridge required approval from a single verifier, LayerZeros own, leaving one party able to authorize the release. The on-chain signature check worked as designed,

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Bitcoin Price Still 33% Below Its Peak High as Bulls Plot a Comeback

At 8:30 a.m. Eastern time, bitcoins price stood at $84,162 on Saturday, Sept. 26, 2026, down 0.51% over 24 hours, as the leading crypto asset continued consolidating following its retreat from $87,374. The daily technical picture remains positive, supported by 13 bullish moving average (MA) readings, although declining trading volume and a neutral oscillator profile suggest buyers have yet to establish sufficient momentum for another sustained advance.  Key TakeawaysBitcoins price remains 33.2% below its October 2025 all-time high of $126,080.Bitcoins daily moving averages retain a strong bullish rating, with 13 positive readings.A break below $83,000 puts bitcoins $80,000-$81,144 support cluster in play.  Bitcoin Price Analysis: Sept. 26, 2026  Bitcoins price traded near $84,165 on Saturday morning, navigating a relatively narrow 24-hour range between $83,230 and $84,662 as buyers and sellers continued their tug-of-war following the rejection at $87,374. Despite the short-term hesitation, bitcoin remains 3.64% higher over seven days and 8.85% higher over two weeks, suggesting the broader recovery has not yet run out of steam.  With a market capitalization of approximately $1.69 trillion and daily trading volume of $27.86 billion this weekend, attention now turns to whether support around $83,000 can withstand another test or whether bulls can reclaim the $85,500 to $86,000

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Kalshi must lock out state users after major court loss

The Sixth Circuit ruled Sept. 25 that Ohio and Tennessee can apply their gambling laws to Kalshis sports contracts.  The court rejected Kalshis argument that complying state by state would conflict with its duties as a federally regulated exchange, and it pointed to geofencing as a workable way to satisfy both.  That second appellate win for states hits the demand Eilers s retail sports demand that comes from states without legal online sportsbooks.  Related Company Kalshi Prediction market for trading the future  Two routes to the same result  The unanimous panel held that Kalshi had failed to show its sports contracts meet the Commodity Exchange Acts definition of a swap, the premise behind its claim to exclusive CFTC oversight.  It then added an alternative holding that even if the contracts were swaps, federal commodities law would leave Ohio and Tennessee gambling statutes in force.  That second finding gives states within the circuit two separate paths to win, since a later ruling in Kalshis favor on the swap question would leave the preemption conclusion standing.Legal questionKalshi‘s positionSixth Circuit rulingPractical consequenceAre the sports contracts “swaps”?Yes, bringing them within the CFTC’s exclusive-jurisdiction frameworkKalshi failed to show the contracts meet the relevant swap definitionKalshi cannot rely on the swap classification to

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Why cash hoarding in the UK proves the world still craves permissionless money

You can spend weeks paying for everything with your phone and still feel better knowing theres some cash at home. That might sound old-fashioned until your banks app stops working, your card gets declined for reasons nobody can explain, or the power goes out while you need groceries.  In those moments, the idea of financial security stops being an abstract ideal you strive for and turns into something very practical. You need to be able to pay, and the money in your account only helps if you can get to it.  This seems to be whats going on in the UK, as Britains newest cash numbers capture this change surprisingly well. In a Sept. 17 explanation of its banknotes, the Bank of England said cash made up just 8% of UK payments in 2025, down from 58% in 2009. However, the value of notes on its balance sheet went from £50 billion to £99 billion over that period, with £94 billion now held by the public in Britain and overseas.  Those are nominal pounds, so inflation accounts for part of the increase, and the overseas holdings mean we cant treat the total as money British households have stuffed into drawers. But even with

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Bitget offers 5% bounty for freezing funds stolen in $351.6M attack

Bitget has launched a recovery bounty offering 5% for freezing stolen assets and another 5% for recovering them after an attack it initially valued at $351.6 million.  SummaryBitget offers separate 5% rewards for eligible efforts that freeze or recover stolen funds.The exchange has raised its estimate of assets transferred to attacker addresses to $387.5 million.Circle and Tether have frozen about $318,000 in USDC and USDT linked to the attack.Bitget plans to restore withdrawals in phases starting Sep. 28.  Bitget CEO Gracy Chen announced the bounty on X and called on exchanges, security researchers, and on-chain investigators to help track the funds. She also thanked Circle and Tether for freezing assets linked to the attack.  Thank you to Circle and Tether for moving quickly. Every address frozen matters.  To the broader community: Bitgets Recovery Bounty Program is live — 5% for freezing attacker funds, 5% for recovery. Every exchange, security researcher, and onchain investigator can make a… https://t.co/UrFjceBL49  — Gracy Chen @Bitget (@GracyBitget) September 26, 2026  The two rewards cover different results. Under Bitgets program, an eligible participant can receive 5% of the affected funds they directly help freeze and 5% of funds they directly help recover. The exchange said voluntary actions that had already led to

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Backpack CEO plans to bring 10,000 tokenized stocks to Solana

Backpack CEO Armani Ferrante has laid out a plan to expand tokenized stock access on Solana from about 200 symbols to 10,000, with shares moving between brokerage accounts and decentralized finance through one API.  SummaryFerrante described 10,000 stock symbols as Backpacks next target, without giving a rollout date.Backpack already lets eligible users convert certain brokerage holdings into Solana tokens and back.The SECs new tokenized stock trading exemption applies only to venues that meet its conditions.  According to a post shared by Solana on Sep. 26, Ferrante wants to make the full stock market available through a system that connects conventional securities accounts with DeFi applications.  “Not 10 stocks, not 100 stocks. We want to bring the entire stock market to Solana,” Ferrante said in the clip shared by Solana.  Armani Ferrante, CEO of Backpack, on what comes next for tokenized stocks.  Not 10 stocks, not 100 stocks. We want to bring the entire stock market to Solana. One API where a real share, by any definition of the term, moves back and forth between your brokerage account and DeFi.…   He described a single API through which a real share could move from a brokerage account into DeFi and back. Ferrante called the move from 200

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