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Drift Protocol lands Tether bailout as USDC gets swapped out for USDT
Charles Schwab is opening spot Bitcoin and Ether trading to retail clients, and a 10-day Middle East ceasefire just sent BTC higher.
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Crypto had one of those days where everything happened at once.
A geopolitical ceasefire moved markets, a brokerage giant made its move, and a DeFi platform got a lifeline.
Meanwhile, a YouTuber is asking uncomfortable questions about how Bitcoin-backed securities get sold to everyday investors.
The common thread: crypto is becoming too big for anyone to ignore, and the growing pains are showing.
Tether plays DeFi firefighter as Drift Protocol swaps stablecoin allegiances
Drift Protocol lost roughly $285M in a recent exploit. Users were left scrambling as positions broke down and liquidity tightened quickly.
Tether stepped in with up to $127.5M. The total recovery package came in at nearly $150M.
But there is a catch. Drift is moving away from USDC and shifting fully to USDT.
Markets
Trump brokers first Israel-Lebanon dialogue in over three decades
Israeli and Lebanese representatives met in Washington this week for the first time in 30 years.
Trump announced a 10-day ceasefire after direct calls with both nations' leaders, with Rubio, Vance, and Dan Caine tasked to negotiate a longer-term deal.
The truce is tied to broader Iran tensions, and markets are watching whether it reopens Strait of Hormuz diplomacy.
BTC traded near $74K, ETH slipped below $2,400, and SOL climbed past $86.
Charles Schwab rolls out spot crypto trading for everyday investors
Schwab Crypto will let retail clients buy and sell Bitcoin and Ether directly.
The phased rollout makes Schwab one of the largest traditional brokerages to offer spot crypto trading alongside stocks and ETFs.
When a firm managing $10 trillion in assets adds a "buy Bitcoin" button, the distribution game changes fast.
Coffeezilla calls out Strategy's Stretch pitch
YouTuber Coffeezilla says Strategy's preferred stock may look safer than it actually is.
STRC is a preferred equity security backed by Bitcoin holdings, but its marketing could lead investors to treat it like a stable, bank-like product.
As more retail money flows into Bitcoin-linked securities, the gap between perception and risk matters more than ever.
On Our Radar
Liquidity gets a makeover: BitGW's single-sided AMM signals crypto's hybrid infrastructure era.*
The feds are finally cashing in: Government moves seized Bitcoin from 2016 hack to exchange.
South Korea’s digital upgrade: Authorities are ditching government cards for blockchain deposit tokens.
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