Crypto never fails to deliver drama.

Hundreds of millions flow into strong projects like Morpho as banks test crypto rewards.

But one major exploit shows just how quickly trust can evaporate.

Here's what's driving our headlines today.

Humanity Protocol's H token crashes after hackers drain over $36M

Attackers stole private keys linked to at least 17 wallets and drained over $36M.

H collapsed from $0.68 to under $0.08 within hours of the breach surfacing.

When your entire security model hinges on key management, one failure can erase everything.

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Markets

CPI anxiety drags stocks and crypto lower in tandem

Investors pulled back ahead of Wednesday's inflation report, expected to show May CPI hitting 4.2%.

The Nasdaq dropped 3% as AI darlings like Nvidia and Intel led the sell-off.

Crypto followed equities lower. BTC slipped below $62K, ETH fell under $1,650, and SOL dropped near $65.

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Morpho just convinced TradFi's biggest names to bet $175M on DeFi lending

Paradigm, a16z, and Apollo Funds led a $175M round valuing Morpho near $2B.

The DeFi lending protocol now counts Circle Ventures and VanEck among its backers too.

When asset managers managing trillions start funding on-chain lending, the pilot phase is over.

Read the full breakdown →

A Japanese bank wants to pay you in Bitcoin just for having a savings account

SBI Shinsei Bank plans to offer crypto rewards on top of regular yen interest this fall.

The program covers Bitcoin, Ether, and XRP as part of SBI Holdings' push into digital assets.

Crypto adoption gets a lot easier when it shows up inside the banking app you already use.

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On Our Radar

The credit shift: Crypto OTC desks are evolving beyond trading into lending operations.*

Locking the barn door: Aave tightens security standards following recent protocol exploit.

Credit goes mainstream: Ethena's stablecoin now backed by institutional bond exposure.

_*sponsored

ICYMI

Meme of the Day

Until next time.

Vi