Coinbase-backed Base returns after 2-hour consensus halt

SummaryBase halted block production after an invalid block disrupted consensus and stopped new block creation.The outage came hours before Beryl, a network upgrade aimed at faster withdrawals.Jesse Pollak said user funds stayed safe, while calling the network halt unacceptable for Base.  The Ethereum layer-2 network said blocks were again being produced normally after engineers worked through the incident.  Base first reported unhealthy block production on its official status page at 4:03 p.m. UTC. The team later said it had isolated a consensus problem that caused an invalid block to be sequenced. That event stopped new blocks from being created after block 47,806,542.  You might also like:  ZachXBT warns AscendEX may face liquidity issues as withdrawals stall  In a later X update, Base said, “blocks are being produced normally” and that it had verified broad recovery across the ecosystem. The team added that it would continue to investigate the root cause and share a full post-mortem.  Blocks are being produced normally, and we have verified widespread recovery in the ecosystem.  Any remaining stuck Base nodes will recover upon restart and syncing.  The team has found the root cause for this halt and well share a full post mortem based on our learnings and…  — Base Build (@buildonbase) June 25, 2026  The

06-26

BitGo Lays Off 15% of Workforce in Strategic Reorganization

Cryptocurrency custody firm BitGo has laid off approximately 85 employees, representing 15% of its workforce, as part of a broader organizational restructuring. The company is refocusing its operations on core areas including security, stablecoins, payments, and artificial intelligence infrastructure, according to a report from BeInCrypto.  Reorganization Amid Industry-Wide Cuts  The layoffs come despite BitGo reporting significant revenue growth over the past year. However, the company still recorded a net loss, attributed to low profitability and the decline in Bitcoins price. The restructuring reflects a strategic pivot toward higher-margin and emerging sectors within the digital asset ecosystem.  BitGo is not alone in this trend. A wave of restructuring has been sweeping the cryptocurrency industry. Coinbase, one of the largest crypto exchanges, laid off approximately 700 employees in May of last year. These moves indicate a broader recalibration among crypto firms as they navigate market volatility and shifting regulatory landscapes.  Focus on Security, Stablecoins, and AI  By narrowing its focus, BitGo aims to strengthen its position in key growth areas. Security remains a foundational concern for institutional investors, while stablecoins are increasingly used for payments and decentralized finance. The companys investment in AI infrastructure signals a longer-term bet on automation and data-driven services within the crypto sector.  Implications

06-26

Hyperliquid price prediction: Whats next as HYPE bulls target $77 resistance?

Hyperliquid [$HYPE] has been consolidating on an ascending triangle pattern since its debut on Coinbase back on the 5th of February.  The token managed to break out back on the 20th of May and rallied explosively to $75 before retracing and bouncing off explosively from the triangle support at $53. As a result, it left behind a market imbalance between $57 and $63.  As of this writing, $HYPE was testing the imbalance zone after an aggressive correction. This occurred since it swept the liquidity at the $75 resistance level. The token is now building some bullish momentum, with the next target in line being the $77 resistance zone.  Source: TradingViewWhy are traders watching $77?  The Hyperliquid network‘s trading activity is notably aligning with $HYPE’s bullish technical structure.  Trading volume has made a significant surge over the last four days, highlighting that investors were taking on more long positions to capitalize on the projected surge back to the point of liquidity at $77.  Source: SantimentLiquidity cluster at $77 affirms it as a key target  Zooming down to $HYPEs liquidation heatmap data, several significant liquidity clusters summing to $10 million rest at around $77 resistance. These clusters support the price level as a crucial point of reference for a

06-26

Panic selling sends Bitcoin below $60K once again – The pressure piles on!

In the past 24 hours, Bitcoin [$BTC] saw $415.83 million worth of derivatives traders liquidated, with $319.18 million worth of these positions being long. Recent hours of trading saw the leading crypto test the $59.1k low once again, threatening another bearish breakdown.  Since the 6th of May, the Coinbase Premium Index for Bitcoin has been negative. The metric tracks the assets price difference between Coinbase (USD pair) and Binance ($USDT pair).  Source: CryptoQuant  The low premium levels implied reduced enthusiasm among U.S.-based investors compared to the global market. Additionally, the liquidation heatmap data AMBCrypto reported on earlier indicated why $BTC prices might dive toward the $57k area in the coming days.  Price weakness versus subsiding Spot selling pressure  Source: $BTC/$USDT on TradingView  The 4-hour chart showed a bearish swing structure in place. The fall from $74.5k to $59.1k was used to plot a set of Fibonacci retracement levels (yellow). The 50% level at $66.8k rejected the bullish advance.  The longer-term structure, combined with this rejection, meant that a price drop to $55.5k and possibly even $49.6k could commence in the coming weeks.  The hidden danger for the next Bitcoin market phase  Glassnodes weekly market report noted that Spot markets led the sell-off. Derivatives markets reacted to the move rather

06-26

Crypto infrastructure firm BitGo lays off 15% of staff

Crypto infrastructure company BitGo Holdings laid off about 15% of its staff on Thursday as its CEO pledged to focus the company on areas including trading, stablecoins and artificial intelligence-powered infrastructure.  “Today Im sharing a hard decision: we are reducing our workforce by nearly 15%,” BitGo co-founder and CEO Mike Belshe posted to X on Thursday. “The ecosystem has evolved, and the way we build financial services has changed dramatically.”  “We need to be sharper, more focused, and concentrate our people and energy on the areas that matter most: security, trading, stablecoins, settlement, and AI-powered infrastructure,” he added.  The layoffs add to the thousands of jobs lost in the crypto industry so far in 2026, with many companies citing efficiency gains from AI and a wide crypto market slump as the reason for the cuts.  Source: Mike Belshe  BitGo did not confirm the number of staff affected in the layoffs. Its 2025 annual report published in March disclosed it had 603 full-time employees as of Dec. 31, 2025, meaning the layoffs could have impacted about 90 staff.  Belshe said the layoffs were “a one-time action” and BitGo does not “anticipate further reductions.” The company is still hiring for 51 roles across various regions, according to its

06-26

Multicoin Capital backs $319 HYPE target despite major risk warnings

Multicoin Capital has projected that Hyperliquids $HYPE token could reach $319 by 2028 despite identifying several structural and market risks that could threaten its long-term outlook.  According to a new report from Multicoin Capital, the investment firm expects Hyperliquid ($HYPE) to appreciate roughly fivefold from its current price near $64, based on a base-case scenario in which Hyperliquid generates about $8 billion in annual earnings by 2028 and trades at a 20-times earnings multiple.  Multicoin also disclosed that it began accumulating $HYPE in February, making it one of the largest positions in its liquid fund, while adopting a three-day no-trade policy after publishing the report.  Why Multicoin believes Hyperliquid can justify a higher valuation  Much of the firm‘s conviction comes from Hyperliquid’s rapid expansion during 2025. According to Multicoin, the decentralized exchange generated about $873 million in revenue from roughly $2.9 trillion in trading volume while growing its user base from around 301,000 to 923,000. During the same period, open interest climbed from approximately $2 billion to $6 billion.  Current market data cited in the report show Hyperliquid now accounts for more than 59% of decentralized perpetual futures open interest. Its outstanding open interest has also reached about $9.6 billion, exceeding that of its largest

06-26

Coinbase's Base probes suspected invalid block behind two-hour outage

Coinbases layer-2 network Base experienced an outage lasting approximately two hours on Thursday after an invalid block caused a consensus failure that stopped all transactions on the chain in what seems to be its biggest outage in 90 days.  The network was affected starting at 16:03 UTC when Base‘s status page indicated the mainnet’s block production as “unhealthy”. Minutes later, the Base team informed the public about the issue. “Base Mainnet is currently halted while the team works on an issue with block production,” the network said on X at about 12:20 p.m. ET. The network stated that “all funds are secure.”  Base traces outage to consensus issue  Base attributed the cause of the outage to a consensus failure that saw an invalid block get into the sequencing pipeline, preventing further block creation, according to the networks status page updates. The Base team reported having pinpointed the cause of the outage 50 minutes after it initially reported the issue, at 16:52 UTC.  Two hours after the disruption, the Base network resumed operations. “We‘ve verified widespread recovery in the ecosystem. If there are any remaining nodes that are still stuck, they will recover after restarting and syncing,” Base’s team reported on X.  Blocks are being produced

06-26

Coinbase to List Spot CAP, Expanding Altcoin Offerings

Coinbase, one of the largest cryptocurrency exchanges in the United States, has announced its intention to list the spot market for CAP, a digital asset that has been gaining attention among traders. The exchange confirmed the development but did not provide a specific timeline for when trading will begin.  What the Listing Means for CAP  The announcement marks a significant milestone for CAP, as listings on major regulated exchanges like Coinbase often lead to increased liquidity, broader investor access, and greater market visibility. For Coinbase users, the addition of a spot CAP trading pair provides a direct way to buy and sell the token without needing to use derivatives or synthetic products.  Coinbase typically evaluates assets for listing based on factors including security, compliance with local regulations, and market demand. The exchange has not yet disclosed which trading pairs will be supported for CAP, nor the exact regions where the listing will be available.  Market Context and Industry Implications  The move comes at a time when major exchanges are carefully expanding their altcoin listings amid evolving regulatory frameworks in the United States. Coinbase‘s decision to add CAP could signal growing institutional confidence in the project’s fundamentals and long-term viability.  Historically, Coinbase listings have triggered price movements

06-26

Bitcoins bear market struggle is killing crypto jobs but fueling a $10 billion Wall Street-backed M&A boom

Bitcoin‘s prolonged decline is forcing cryptocurrency companies to cut staff, automate more work, and abandon the expansion plans that defined the last bull market. At the same time, it is also creating one of the industry’s busiest periods for takeovers.  Crypto mergers and acquisitions reached $7.23 billion during the second quarter of 2026, up from $2.14 billion in the first three months of the year.  The two quarters brought total capital deployed through deals to $9.37 billion. CryptoRanks data framed the broader first-half surge as a 26x increase versus the same period last year, underscoring how sharply deal activity has accelerated even as spot-market conditions weakened.  Crypto Ms Strategy, could acquire their discounted peers, merging balance sheets while simultaneously targeting revenue-generating operating businesses to reduce reliance on token price appreciation alone.  Meanwhile, the Ms mega-rounds.  This selective deployment of venture capital mirrors the broader M&A trend. Liquidity exists, but it is ring-fenced for startups that boast regulatory licenses, institutional distribution channels, and concrete utility to traditional finance.  The bear market is effectively pruning the industry, forcing weaker models to consolidate or lay off staff, while richly rewarding the infrastructure providers built to outlast the crypto winter.

06-26

Bybit to List CAP for Spot Trading on June 26

Cryptocurrency exchange Bybit has announced that it will list CAP for spot trading on June 26 at 1:00 p.m. UTC. The listing adds a new trading pair to the platform, expanding Bybits spot market offerings for users seeking access to emerging digital assets.  What is CAP and Why Does This Listing Matter?  CAP is a relatively new cryptocurrency token that has been gaining attention within decentralized finance and Web3 communities. While specific project details remain limited in mainstream coverage, the token‘s listing on a major exchange like Bybit typically signals increased liquidity, broader investor access, and potential price discovery. Bybit’s decision to list CAP reflects the exchanges ongoing strategy to support innovative blockchain projects and meet user demand for diverse trading options.  Timeline and Trading Details  According to Bybit‘s official announcement, spot trading for CAP will go live at 1:00 p.m. UTC on June 26. Deposits for CAP are expected to open ahead of the trading start, allowing users to prepare their positions. Withdrawals will be enabled shortly after trading commences. Bybit has not yet disclosed the specific trading pair, but it is expected to be paired with $USDT, the platform’s primary stablecoin for spot trading.  Implications for Traders  Exchange listings often generate short-term volatility for

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