NewsBriefs - Cetus protocol set for June 8 relaunch following recovery from hack and security overhaul

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  • Cetus

    Cetus protocol set for June 8 relaunch following recovery from hack and security overhaul

    Cetus announced a comprehensive recovery plan following a hack targeting its CLMM pools, leading to significant token losses. The protocol will relaunch on June 8, 2025, at 3:00 UTC, with enhanced security measures and assets restored using funds from the Cetus treasury, a Sui Foundation loan, and recovered assets from the attacker. Furthermore, compensation for liquidity losses will be offered through CETUS tokens, with a commitment to prevent inflation by adjusting the vesting schedule. The relaunch aims to reestablish functionality and confidence in the protocol.

    Cetus

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    • The Block

      Fireblocks introduces enterprise-grade stablecoin network to bolster crypto transactions

      Fireblocks has launched a new stablecoin network targeting enterprises, enabling secure and efficient USD-pegged token transactions and product development. Already serving over 40 entities including major firms like Circle, the network simplifies operations through unified APIs tailored for stablecoing use, positioning Fireblocks as a key infrastructure provider in an industry expected to scale significantly. With its recent $550 million funding, Fireblocks aims to capitalize on the growing market while supporting institutions like the Bank of America in developing their own stablecoins.

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    • The Block

      Aria raises $15 million, reaches $50 million valuation for story-based IP tokenization

      Aria Protocol Labs and Aria Foundation, developers of Aria, a platform for tokenizing intellectual property (IP), have secured $15 million through seed and strategic funding rounds from backers like Polychain Capital and Neoclassic Capital. The funding, combining equity and token warrants, has brought Aria's valuation to $50 million. These investments will aid Aria in expanding into further IP categories such as art and film/TV and enhancing its ecosystem. The platform, which uses its Story blockchain for tokenizing music IP and royalties, provides investors and fans access to typically illiquid asset classes through tokens like APL, which recently launched.

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      The Block

    • Gloria Crypto

      Ethereum Foundation plans to sell 10,000 ETH to fund research and development

      The Ethereum Foundation plans to sell 10,000 ETH via centralized exchanges to support research and development, ecosystem grants, and donations. The value of the ETH is approximately $43 million based on current prices. This move is part of a broader financial strategy that includes a new treasury policy to cap annual operational expenditure and create a multi-year reserve. This sale strategy involves multiple smaller transactions to maximize financial efficiency.

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      Gloria Crypto

    • The Block

      Ark Invest acquires $15.6 million in BitMine shares amid price drop

      Ark Invest, under Cathie Wood's leadership, purchased $15.6 million worth of BitMine shares across three of its ETFs as the stock fell by 7.85% to close at $46.03. The ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF participated in acquiring these shares.

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    • The Block

      Eclipse Labs appoints new CEO Sydney Huang amid 65% staff reduction and strategic pivot

      Eclipse Labs has appointed Sydney Huang as the new CEO and is reducing its workforce by 65%, aligning with its strategic shift to develop user-facing applications on its Layer 2 infrastructure. This follows the token generation event last month, which resulted in a significant drop in the price of its native token, ES. The company will focus on building applications in-house to attract end users while continuing to support its Layer-2 chain.

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      The Block

    • The Block

      OCC lifts consent order against Anchorage Digital, signaling regulatory shift

      The Office of the Comptroller of the Currency (OCC) has rescinded its consent order against Anchorage Digital, originally implemented due to concerns over the crypto bank's anti-money laundering and KYC protocols. This shift aligns with broader changes in the US regulatory landscape towards crypto, including relaxed Federal Reserve guidelines for bank's crypto activities and a clarifying statement on rules for banks handling crypto, reflecting a more accommodative regulatory environment. Anchorage Digital remains the only federally chartered crypto bank in the US, noted for setting high compliance standards in the industry.

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    • Protos

      US judge releases Hayden Davis's frozen assets, including 500M LIBRA tokens

      A US court has lifted the freeze on LIBRA creator Hayden Davis's assets, allowing him to access and transfer $58 million in USDC and 500 million LIBRA tokens in monthly increments. Despite the court's decision, USDC remains technically frozen. Each LIBRA token currently holds a value of $0.0094, estimating the total value of the released tokens at $4.7 million.

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    • The Block

      Sen. Tim Scott faces opposition from Sen. Elizabeth Warren on crypto bill

      Sen. Tim Scott is actively pushing a bill to regulate the crypto market and expects support from 12 to 18 Democratic senators. However, Sen. Elizabeth Warren, a known critic of the crypto industry, is reportedly hindering progress. Scott, alongside Sens. Cynthia Lummis, Bill Hagerty, and Bernie Moreno, have released a draft aiming for approval by a September 30 deadline. The legislation aims to establish a comprehensive market structure for crypto, beyond what recent laws have accomplished.

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    • Simon Gerovich

      Metaplanet acquires 775 BTC for $93M, now holding 18,888 BTC

      Metaplanet has acquired 775 bitcoins for approximately $93 million, costing about $120,006 per BTC. The company has realized a bitcoin yield of 480.2% year-to-date in 2025. As of August 18, 2025, Metaplanet holds a total of 18,888 BTC, valued at around $1.94 billion, with an average acquisition cost of approximately $102,653 per BTC.

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      Simon Gerovich

    • The Block

      Japan's Financial Services Agency set to approve first yen-pegged stablecoin

      Japan's Financial Services Agency is expected to approve the issuance of the country's first yen-pegged stablecoin by JPYC as early as this fall. JPYC plans to register as a money transfer business and initiate token sales soon after. The stablecoin will be backed by liquid assets like deposits and government bonds, and is intended for uses such as international remittances and DeFi. The company aims to issue 1 trillion yen worth of the stablecoin over three years.

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    • The Block

      Pump.fun maintains high average buyback price for PUMP token despite reduced revenues

      Pump.fun continues to buy back PUMP tokens at a price significantly above market rates, with average buybacks at $0.0058 compared to the current market price of $0.0039. Since initiating a buyback program after its July ICO, the Solana memecoin launchpad has scooped up approximately 7.43 billion PUMP despite reduced revenues and ongoing debates over the sustainability of using platform fees for repurchases. Despite these buybacks, PUMP's value is notably below its previous high, reflecting broader market challenges.

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      The Block

    • The Block

      Heritage Distilling adopts $340 million IP token treasury with support from a16z crypto

      Heritage Distilling, under the ticker CASK, is set to pioneer the use of the IP token as its main reserve asset through a $340 million treasury strategy supported by a16z crypto and other key investors. The company will implement a $220 million PIPE deal, acquiring 52.5 million IP tokens at a significant discount, enhancing its strategic reserve assets and giving it a stake in the tokenized IP sector. The transaction is reinforced by contributions and advisory roles from various partners and crypto executives.

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    • The Block

      CFTC launches Crypto Sprint initiative following Trump's crypto regulatory vision

      The Commodity Futures Trading Commission (CFTC) is initiating a 'Crypto Sprint' to enact recommendations from the recent White House digital asset report, aligning with President Trump's goal to position the US as the global leader in crypto. The effort aims to integrate crypto into the US financial systems, enhancing regulatory clarity and promoting innovation. Notably, the CFTC will coordinate with the Securities and Exchange Commission to bring clarity to trading and registration processes for digital assets.

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      The Block

    • Grayscale

      Grayscale launches new trust for Story network's IP token

      Grayscale, a leading digital asset investment platform, has launched Grayscale Story Trust to provide investors with exposure to the $IP token of the Story network. Story, a blockchain network, facilitates the management and monetization of intellectual property as programmable assets, tailored for artificial intelligence and digital rights across blockchain applications. The trust aims to appeal to institutional investors by embedding intellectual property in the booming AI and creator economies, making it licensable and monetizable on-chain.

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      Grayscale

    • The Block

      Robinhood reports 32% increase in Q2 crypto trading volume

      Robinhood Markets saw a 32% year-over-year increase in crypto trading volume, reaching $28 billion in the second quarter. The company further executed on its crypto strategy by acquiring Bitstamp and expanding tokenization, including launching new products in tokenized equities and crypto futures. Additionally, transaction-based crypto revenue nearly doubled, implying strong growth in its crypto business.

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