NewsBriefs - GMX and MIM Spell targeted in $13 million crypto hack

Mar 25, 12:00 PM PeckShield

GMX and MIM Spell targeted in $13 million crypto hack

On March 25th, GMX and MIM Spell, two key DeFi platforms, suffered a significant security breach resulting in the loss of approximately 3,260 ETH, valued around $13 million. The breach targeted their smart contracts, highlighting ongoing security concerns in the DeFi sector, especially for platforms with substantial TVL. GMX, a decentralized exchange, and MIM Spell, operated by Abracadabra, play major roles in trading and lending within the crypto ecosystem.

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• Mar 25, 4:00 PM Cboe

  Cboe files 19b-4 for Fidelity Solana ETF, signaling mainstream push

  Cboe has filed a 19b-4 form with the US Securities and Exchange Commission to list a Solana exchange-traded fund (ETF) proposed by Fidelity. Fidelity's Solana ETF, expected to track the spot price of SOL, aims to include the high-performance blockchain in regulated financial markets, expanding its crypto ETF range beyond Bitcoin and Ethereum. This move reflects a growing demand from investors for altcoin exposure and could significantly impact the mainstream financial integration of Solana.

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• Mar 25, 12:00 PM PeckShield

  GMX and MIM Spell targeted in $13 million crypto hack

  On March 25th, GMX and MIM Spell, two key DeFi platforms, suffered a significant security breach resulting in the loss of approximately 3,260 ETH, valued around $13 million. The breach targeted their smart contracts, highlighting ongoing security concerns in the DeFi sector, especially for platforms with substantial TVL. GMX, a decentralized exchange, and MIM Spell, operated by Abracadabra, play major roles in trading and lending within the crypto ecosystem.

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• Mar 25, 6:05 AM Cointelegraph

  Kentucky governor Andy Beshear enacts Bitcoin Rights bill

  Kentucky governor Andy Beshear signed the Bitcoin Rights bill into law, establishing legal protections for crypto users’ rights such as self-custody and operation of nodes without discrimination. The bill, HB701, introduced by Rep Adam Bowling, also safeguards crypto mining activities from local zoning changes and clarifies that crypto mining and staking are not considered securities. This comes as Bitcoin legislation progresses in another US state, where Oklahoma and Arizona are advancing their digital asset initiatives.

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• Mar 25, 1:00 AM Globe Newswire

  Dogecoin Foundation's corporate arm launches Official Dogecoin Reserve to enhance payment efficiency

  House of Doge, the business arm of the Dogecoin Foundation, has launched the Official Dogecoin Reserve, buying 10 million Dogecoin to promote Dogecoin as a mainstream global payment option. This reserve aims to solve the transaction lag prevalent in digital currencies by enhancing payment efficiency at checkouts. The Reserve's initiation represents a significant development in making Dogecoin a reliable, scalable global currency for everyday transactions and merchant acceptance.

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• Mar 24, 10:09 PM The Block

  Polymarket expands capabilities with SOL deposits on Solana

  Polymarket has introduced the option for users to deposit SOL on its platform, expanding beyond the previous requirement of using USDC stablecoins. Operating on the Polygon network, the crypto prediction platform is enhancing its accessibility by incorporating Solana, which ranks just above USDC in terms of market capitalization. This move aims to rejuvenate user engagement following a slight decline since peaking during the US presidential elections.

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• Mar 24, 9:38 PM The Block

  Trump Media partners with Crypto.com to launch 'Made in America' ETFs

  Trump Media and Technology Group has partnered with Crypto.com to create exchange-traded funds (ETFs) and products focused on digital assets and US-based securities under the Truth.Fi brand. The ETFs will feature a basket of cryptocurrencies including Bitcoin and Cronos, and will be supported by Crypto.com's technology and custody services. These ETFs, awaiting regulatory approval, aim to support American innovation and economic growth and will be available internationally through Foris Capital US.

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• Mar 24, 9:04 PM The Block

  Standard Chartered tests Mag 7B index, replaces Tesla with Bitcoin for better returns and stability

  Standard Chartered developed a modified version of the 'Magnificent 7' tech index, named 'Mag 7B', by substituting Tesla with Bitcoin. The bank's analysis revealed that Mag 7B outperformed the original Mag 7 index, demonstrating higher returns and lower volatility. This shift indicates Bitcoin's potential dual role as a tech stock and a hedge against traditional finance risks, suggesting increased institutional investment in Bitcoin could be advantageous.

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• Mar 24, 10:00 AM DWF Labs

  DWF Labs launches $250M liquid fund to boost growth in web3

  DWF Labs is launching a $250 million Liquid Fund to accelerate the growth of mid and large-cap crypto projects. This initiative is part of DWF Labs' active investment strategy in the crypto industry, having recently committed $11 million to different blockchain projects, with upcoming investments totaling $35 million. The fund will support strategic venture capital and ecosystem enhancements in the crypto space, focusing on liquidity, DeFi activity, lending markets, public relations, and comprehensive go-to-market strategies, aimed at increasing real-world crypto adoption and industry innovation.

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• Mar 24, 10:00 AM dYdX

  dYdX initiates first-ever DYDX Buyback Program

  The dYdX community has launched its first-ever DYDX Buyback Program, allocating 25% of net protocol fees towards monthly buybacks of DYDX tokens from the open market to stake and enhance network security. This initiative is part of a broader strategy aimed at aligning tokenomics with the protocol's growth, ensuring long-term sustainability and strengthening the role of DYDX tokens within the ecosystem.

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• Mar 23, 4:33 PM The Block

  Fidelity introduces Ethereum-tracked 'OnChain' shares for Treasury money market fund

  Fidelity Investments is launching 'OnChain,' an Ethereum-based blockchain share class for its Treasury money market fund. This new class will provide transparent and verifiable tracking of share transactions on the Ethereum blockchain, while maintaining traditional records for official ownership. The initiative reflects a growing trend of integrating blockchain technology into traditional financial instruments, with the market for tokenized US Treasury securities currently valued at about $4.77 billion.

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• Mar 21, 5:55 PM The Block

  Coinbase in advanced talks to buy Deribit

  Coinbase is in advanced talks to acquire Deribit, a leading platform for trading Bitcoin and Ether options. The discussions have involved notifying regulators in Dubai, where Deribit holds a license. Bloomberg sources suggest no final agreement has been reached yet, although earlier reports valued Deribit between $4 billion and $5 billion.

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• Mar 21, 1:00 PM TON

  TON Foundation clarifies $400M in Toncoin held by top US VCs, not raised

  TON Foundation has clarified that it has not raised $400 million. Instead, leading US venture capital firms including Sequoia Capital, Ribbit, Benchmark, and Kingsway have invested this amount in buying Toncoin. These firms are supporting the TON blockchain, which powers apps within the Telegram ecosystem, with over 40 million active users and 121 million Toncoin holders. The investment was made in Toncoin rather than traditional equity or cash.

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• Mar 21, 11:30 AM Maiga.ai

  MAIGA partners with io.net to supercharge AI-driven trading analysis

  MAIGA has announced a partnership with io.net to utilize their IO Intelligence AI model, aiming to boost its AI-driven trading analysis. This collaboration will incorporate open-source AI models such as Deepseek R1 and Llama 3.3, offering MAIGA advanced tools for real-time market insights and predictive analytics, thereby enhancing decision-making and operational efficiency in token trading.

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• Mar 21, 4:00 AM The New York Times

  Eminem's ex-employee charged with leaking 25 tracks for $50,000 in Bitcoin

  Joseph Strange, a former sound engineer for Eminem, was charged with copyright infringement and interstate transportation of stolen goods for illegally selling the rapper's unreleased tracks. Strange allegedly sold 25 songs, which Eminem wrote between 1999 and 2018, for about $50,000 in Bitcoin without consent from Eminem or Interscope Capital Labels Group. The US Attorney's Office for the Eastern District of Michigan stated the charges after authorities were alerted to the leaks by current employees. If convicted, Strange faces significant prison time and fines.

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• Mar 21, 1:00 AM Metaplanet

  Eric Trump joins Metaplanet's Strategic Board of Advisors

  Eric Trump has joined the Strategic Board of Advisors at Metaplanet to leverage his business expertise and passion for Bitcoin (BTC), aiding the company's growth as a leading Bitcoin treasury firm.

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