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8 May 2026, 08:25

Bithumb to Temporarily Halt Bitcoin Cash Transactions for Network Upgrade on May 15

BitcoinWorld Bithumb to Temporarily Halt Bitcoin Cash Transactions for Network Upgrade on May 15 South Korean cryptocurrency exchange Bithumb has announced a temporary suspension of deposits and withdrawals for Bitcoin Cash (BCH), effective May 15 at 8:00 a.m. UTC. The exchange stated that the halt is necessary to support an upcoming network upgrade for the cryptocurrency. Scheduled Suspension Details According to an official notice from Bithumb, the suspension will affect all BCH deposit and withdrawal services. The exchange has not yet specified an exact time for resumption, but such maintenance periods typically last several hours to a full day, depending on the complexity of the upgrade and network stability. Users are advised to complete any pending transactions before the cutoff time to avoid delays. Network Upgrade Context Bitcoin Cash, a fork of Bitcoin created in 2017, undergoes periodic network upgrades to improve scalability, security, or functionality. While Bithumb did not specify the exact nature of the upgrade, these events often involve protocol changes that require exchanges to update their systems. Similar suspensions have occurred in the past for other cryptocurrencies during major upgrades, such as Bitcoin’s Taproot or Ethereum’s transitions. What This Means for Traders and Holders For Bithumb users holding or trading BCH, the suspension means that during the maintenance window, they will not be able to move funds to external wallets or other exchanges. Trading pairs involving BCH may still be active on the platform, but withdrawals and deposits will be blocked. This is a standard precaution to prevent transaction errors or losses during the upgrade process. Broader Implications for the Crypto Market While Bithumb is a major player in the South Korean market, the temporary halt is unlikely to cause significant price volatility for BCH, as such events are routine and expected. However, users should remain cautious and monitor official announcements from both Bithumb and the Bitcoin Cash development team for any unexpected delays or issues. The suspension also highlights the ongoing need for exchanges to maintain compatibility with evolving blockchain protocols. Conclusion Bithumb’s temporary suspension of BCH services on May 15 is a routine operational measure tied to a network upgrade. Users should plan accordingly and complete any necessary transactions before the deadline. The exchange will likely resume services once the upgrade is confirmed stable and compatible with its systems. FAQs Q1: Why is Bithumb suspending BCH deposits and withdrawals? A1: The suspension is to support an upcoming network upgrade for Bitcoin Cash, which requires exchanges to update their infrastructure to maintain compatibility. Q2: How long will the suspension last? A2: Bithumb has not provided an exact end time, but such suspensions typically last several hours to a day, depending on the upgrade’s complexity and network stability. Q3: Can I still trade BCH on Bithumb during the suspension? A3: Trading pairs involving BCH may remain active, but deposits and withdrawals will be blocked until the upgrade is complete and services are restored. This post Bithumb to Temporarily Halt Bitcoin Cash Transactions for Network Upgrade on May 15 first appeared on BitcoinWorld .

8 May 2026, 08:06

LayerZero Risks Escalate as Developers Push Security Debate

Security researcher Banteg ignited a debate as he highlighted LayerZero’s default multisig setup which exposed billions in OFT (Omnichain Fungible Token) assets to potential compromise. His research also showed that LayerZero’s default setup created major security risks for many connected projects. The controversy pushed several protocols to improve security or move to safer alternatives like Chainlink CCIP. A heated debate broke out in the ETHSecurity Community Telegram Group between LayerZero’s Bryan Pellegrino (co-founder and CEO of LayerZero) and security researchers. The debate was about a default library contract that LayerZero Labs could upgrade without a timelock, putting more than $3 billion in LayerZero Omnichain Fungible Tokens (LZ OFTs) at risk of compromise similar to the recent rsETH hack. The Spark: Vulnerable Default Library Exposed Security researcher highlighted the fact that LayerZero’s default library contract allowed the team to make instant upgrades that too without any delay mechanism like a timelock. With this setup, the team members could forge a cross-chain message which could mimic the rsETH exploit where attackers drained funds by faking verifications. Projects such as Ethena and EtherFi were using this default library just weeks ago, according to researcher Banteg. Even now, onchain data shows $178 million in value from various projects remains exposed to this risk if LayerZero Labs’ control is abused. Yearn developer Banteg intensified the whole thing after he warned that many protocols were still dangerously dependent on LayerZero’s default 3-of-5 multisig setup. He argued that projects relying on the default receive library without stronger protections were exposing themselves to unnecessary risk, as any compromise of LayerZero’s multisig could allow attackers to drain connected adapters instantly. Following the Kelp exploit, Banteg estimated that vulnerable adapters initially represented around $3.13 billion in potential exposure, though that figure later dropped significantly after some projects hardened their configurations. Despite this progress, he stressed that many protocols still remained vulnerable. By publishing exact technical guidance for the security of these integrations, Banteg shifted the debate from theory to actionable risk, reigniting concerns over LayerZero’s centralized dependencies. LayerZero does not need to act maliciously for danger to arise, any compromise of their systems could lead to a supply chain attack on all dependent projects. This mirrors past audits flagging similar trusted-part risks in LayerZero’s Endpoint and UltraLightNode contracts. Multisig Signers Caught in High-Risk Activities Onchain evidence showed that LayerZero’s Labs’ production multisig signers, something that is meant to secure billions, were used for risky personal activities. These included trading the memecoin McPepes (PEPES) on Uniswap, DEX swaps, and bridging assets, exposing keys to phishing sites. Zach Rynes, a Chainlink community figure, called it out on X (formerly known as Twitter). He labeled it a total failure of basic opsec and key isolation, raising supply chain attack fears. LayerZero’s Bryan claimed they were testing “PEPE’s OFT integration,” but critics noted that PEPE was not even deployed yet, and McPepes is a different token altogether. This poor handling of production keys explains their prior North Korea hack vulnerability, where Lazarus Group targeted them through compromised RCPs. LayerZero’s History of Security Issues LayerZero Labs has faced repeated scrutiny for opsec lapses. North Korea hackers managed to infiltrate their infrastructure, spoofing RPC data in the KelpDAO rsETH exploit that stole $290-292 million, which LayerZero blamed on Kelp’s single DVN setup . Past reports like ZeroValidation detailed multisig exploits allowing arbitrary messages without any proper sign-off, pojects migrating away cite these as signs of centralized risks spreading to user funds. The rsETH hack showed how weak configs amplify dangers, with LayerZero halting signatures for singles-verifier apps post-incident. Critics argue defaults push users into risky paths without clear warnings. Bryan vs Researchers: Clash in Telegram In the ETHSecurity Telegram debate, Bryan defended LayerZero, but researchers pushed back on the library risks and multisig misuse. They stressed that production keys connected to DEXs and memecoin trades scream phishing bait, especially post-North Korea breach. Bryan dismissed some claims, but the group highlighted $3B+ OFT exposure. Influencer Backlash and Project Shifts Another crypto influencer Ed posted on X and argued that the protocol’s defenders overlooked a major issue, its own centralized infrastructure had been compromised. KelpDAO, after the April 18 LayerZero-linked exploit, announced its migration of rsETH to Chainlink CCIP over concerns about infrastructure security and unanswered ecosystem questions. Solv protocol has now followed with an even larger transition. The protocol is moving more than $700 million SolvBTC and xSolvBTC ecosystem away from LayerZero bridges after the security review. Together, these back-to-back migrations highlight a growing industry shift, as major protocols increasingly prioritize stronger security guarantees, proactive monitoring and institutional-grade cross-chain infrastructure. These migrations suggest growing preference for more secure cross-chain solutions, with Chainlink gaining almost $1 billion in assets. Industry voices like Yearn’s Banteg and Zach Rynes also backed concerns around LayerZero, pushing for stronger security standards. Broader Implications for Cross-Chain Security LayerZero’s OFT (Omnichain Fungible Token) standard powers billions of dollars in cross-chain token transfers by using a burn-and-mint system, where tokens are burned on one chain and recreated on another. While this model has helped many projects scale across blockchains, its default security setup has raised serious concerns. In many cases, protection depends heavily on LayerZero Labs’ multisig infrastructure, meaning a small group of key holders can control critical operations. If these keys are exposed or internal systems are compromised, user funds and protocol security could be at risk. Security experts have also pointed out that some of LayerZero’s libraries lack stronger upgrade protections or decentralized safeguards, which weakens trust in its modular bridge design. As a result, several projects are now reconsidering their reliance on LayerZero and moving toward alternatives like Chainlink CCIP, which are increasingly viewed as more secure. This shift highlights a bigger lesson for the crypto industry: strong code alone is not enough. Protocols also need better operational security, including timelocks, isolated key management, and multiple independent verifiers by default. For users, the real danger usually comes not just from smart contract bugs, but from centralized infrastructure and poor security practices behind the scenes. Also Read: $770M in Crypto Exploits Fuels Concerns Over AI-Powered DeFi Threats

8 May 2026, 06:20

The Rise Of Corporate Blockchains

Summary Blockchain rails are displacing the deposit layer - tokenization compresses settlement time and expands trading hours, while GENIUS Act stablecoins create a compliant crypto rail that bypasses traditional deposits. Corporations are building their own chains to defend core economics rather than pay 'protocol taxes' to public networks. Many public crypto projects will lose substantial value if they cannot assert their revenue-generating use cases in a world awash in corpchains. Corporations are building their own blockchains to capture settlement economics previously flowing to public chains. We examine the $60B+ opportunity. The Rise of Corporate Blockchains: Settlement Goes Onchain, Value Capture Goes In-House Since the beginning of 2025, altcoins like ETH and SOL have fallen by -32% and -57%, while an index of crypto equities (MVDAPPP) is up +48% . The divergence reflects a deeper shift: corporations are capturing the settlement economics that previously flowed to public-chain tokens. Even with a more permissive regulatory environment under a “Bitcoin President,” value is migrating from protocol tokens to the equities and infrastructure providers building corporate blockchains (“corpchains”). L1 Blockchain Tokens Are Down -49% Since the Start of 2025; Crypto Equities +48% Crypto Equities Outperformed L1 Tokens by Nearly 100 Percentage Points Source: Bloomberg as of 5/06/2026. Past performance is not a guarantee of future results. Not intended as a recommendation to buy or sell any securities named herein. Three forces are converging to drive this shift: economic incentives from faster onchain settlement, the GENIUS Act formalizing compliant stablecoin issuance, and direct integration with Federal Reserve rails through new banking charters. Together, they enable corporations to run regulated blockchain settlement systems while bypassing the traditional deposit layer. We unpack each below. One major reason is that stablecoins and real-world asset (RWA) tokenization have achieved some measure of regulatory clarity. Meanwhile, many public blockchain tokens are stuck in an uncomfortable legal limbo in which they can neither provide strong value accrual nor offer important investor protections via a functioning disclosure regime. The competitive landscape has also materially widened to include banks, fintechs, financial entities, and newly public infrastructure providers. Some of these companies even have substantial advantages, including special-purpose bank charters. The blockchain revolution is here, but enterprises are capturing the value while many tokens get left behind. Corporate Blockchains Use Case Legacy Incumbent Public Chain Challengers Corp / Permissioned Chain 2030 Opportunity Size Cross-Border Payments SWIFT / banks ETH / Tron / Base Kinexys / Fnality / Tempo / XRPL $20B of annual revenue$7.5T/day in FX volumes5-10% on chain5-10bps take rate Collateral & Settlement DTCC / LCH / Euroclear ETH / Base / BUIDL Canton / Kinexys / XRPL $10B of annual revenue$2.3 Quadrillion settled$5T onchain10-30bps take rate Securitization Goldman / JPM / Citi Ethereum / Ondo / Securitize / Base Provenance ( FIGR ) / Canton / XRPL $15B of annual revenue$3T-$4T securitized10-20% onchain50-300bps take rate Derivatives Trading CME / ICE / LCH Hyperliquid / dYdX Canton / Kinexys $12B of annual revenue$800T trading volume5-10% onchain1-3bps take rate Cash Securities Trading NYSE / Nasdaq / LSE Ondo / Robinhood Chain / Base Canton / DTCC / Nasdaq / NYSE / Tradeweb $5B of annual revenue$130T trading volume5-10% onchain3-7bps take rate Source: VanEck Research, BIS , DTCC as of 3/30/2026. Past performance is not a guarantee of future results. Not intended as a recommendation to buy or sell any securities named herein. While public blockchains excel at innovation, they struggle with governance, compliance, and service guarantees required by regulated financial players. Most importantly, value accrues to onchain traders and tokenholders. These incumbent-built “corpchains” will move regulated value (cash, collateral, securities) with controlled validator sets, privacy, and fee capture. Why Corpchains Now: Three Forces Converging 1) Economic Incentives: Faster Settlement Unlocks Idle Capital When ownership transfer completes in seconds rather than days, capital can move faster. This enables more trading turnover in existing securities and allows new trading venues and financial markets to spawn. Market makers, for example, gain capacity to build deeper liquidity in prediction markets. An estimated >$1T of initial margin was held at clearing houses at the end of 2025. Moving from T+2 days to T+12 seconds (or less) will enable working capital to more efficiently stream across trading venues. Tens of trillions more in assets and commodities also rest in systems in which they cannot be used as collateral. 2) The GENIUS Act Formalized “Narrow-Bank-Like” Stablecoin Issuance GENIUS creates a legal framework for stablecoins to act as “narrow banking” or “skinny” entities that only hold safe, liquid reserves and do not make loans (except to the US Treasury). This codifies stablecoins as a regulated, nimbler form of transferable demand deposits. The result is a federal framework for payment stablecoins with 100% reserve backing, required disclosures and attestations, and full Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance. Predictably, banks are trying to constrain stablecoins by seeking regulation that prohibits yield incentives and also labels stablecoins as a “systemic risk.” However, banks are quickly adopting stablecoins themselves and linking them to their existing business franchises. Going forward, stablecoins give both consumers and institutions more freedom by acting as important payment mechanisms and more dynamic collateral. Visa is processing $3.5B annualized, Fiserv has made the FIUSD stablecoin available to more than 10,000 financial institutions, and stablecoin supply currently sits at $310B . 3) Direct Fed-Rail Integration Is Happening A major milestone for crypto entities has been to link the blockchain financial system to the banking rails that run directly to the Federal Reserve. A banking charter enables a crypto-linked firm to connect crypto with global settlement and payment systems and could allow blockchain finance to tap into Federal Reserve liquidity. More than 21 crypto entities have applied for state and national banking charters since 2020 1 , and approvals could lead to direct Fed connections. To date, 9 bank national charters have been approved and 4 of them are effective. Another 4 crypto entities have been granted state bank charters in Wyoming. Payward, the owner of Kraken, was granted a limited-purpose Fed master account through the Kansas City Fed. These banking licenses are key enablers for corpchains. If the cash leg can clear through regulated stablecoin issuers or limited-purpose chartered entities with privileged Fed connectivity, corporations can run blockchain settlement systems without relying on the traditional deposit layer or the correspondent banking system. Private networks can manage identity, permissions, privacy, and governance while still settling in compliant dollars that move faster and sit closer to the Fed’s core infrastructure. The result: corporate adoption of blockchains for settlement + regulated reserve institutions (GENIUS) + direct integration with Fed rails. Collectively, we believe corporate blockchains could create $60B+ in revenue by 2030. Corpchain Valuation Snapshot Quantitative snapshot: economic value hosted on each chain today, current annual fee capture, and estimated market value of the operator. Chain Economic Value Hosted Today Annual Current Value Capture Market Value XRP Ledger (XRPL) $88B mkt cap; $47M DeFi TVL $365k (Chain Fees) $88B (Market Value XRP) BASE $18B (stablecoins + bridge TVL) $256M (Chain Fees + Stablecoin Float) $11B (Est.) Provenance/FIGR $21B HELOCs $514M (Corp + Chain Rev) $7.8B (Market Value FIGR + Provenance) Canton $300B in Repo $800M (Chain Fees/Token Burn, last 60 days, annualized) $5.6B (Market Value Canton) Tempo/Bridge/Stripe Pre-launch Pre-Launch $5B (Est.) Kinexys/JPM $5B/day Repo Internalized into JPM revenues $2.6B (Est.) Fnality GBP live; USD/EUR pending Small Scale Usage $1.25B (Est.) ARC Pre-Launch Pre-Launch $400M (Est.) Robinhood Chain Pre-launch Pre-Launch $250M (Est.) Source: VanEck Research as of 4/14/2026. Past performance is not a guarantee of future results. Not intended as a recommendation to buy or sell any securities named herein. Note: Valuations were based on comps and assumptions about blockchain’s impact on revenues within the next 2-3 years. Why Corporations Aren’t Embracing Public Chains If enforcement eases but market structure clarity lags, the perceived “wild west” problem for crypto won’t disappear. Public blockchains carry real risks for regulated users: service disruptions, potential interaction with prohibited parties, and volatile blockspace pricing. As such, it gets harder for public companies to justify relying on open networks for regulated value. The lack of a clear market structure bill makes this worse as companies are uncertain about the legal definitions of activity types or how to treat various crypto tokens. So instead of adopting open-source chains (and “giving up the tolls”), many firms are building corpchains that let them: Control validators and counterparty participation Prevent asset leakage Offer privacy, compliance, and auditability Capture value Guarantee deterministic performance and costs The result: corpchains offer strong value propositions to regulated, corporate clients that also deliver significant bottom-line impact for corpchain builders. This does not mean public chains do not have a place, but it suggests that they need to assert their contributions to the emerging, regulated digital assets regime or they will be left behind. The substantial valuations of public chains such as Ethereum and Solana are premised on a future in which serious financial activity takes place on these blockchains. If corpchains absorb the majority of this projected financial activity, public-chain valuations may need to de-rate considerably . Corpchain Qualitative Scorecard Qualitative scorecard: each chain’s institutional adoption, use case focus, regulatory clarity, revenue model, and overall standing. Chain Institutional Adoption Use Case Specificity Regulatory Clarity Revenue Model Verdict and Adoption Score Canton GS, Nasdaq, Tradeweb, Broadridge; $280B repo/day Collateral + settlement; single focus HIGH Transaction fees TOP TIER (9/10): deepest TradFi buy-in Provenance ( FIGR ) Figure anchor; 15 of top 20 mortgage lenders; $21B+ HELOCs Mortgage/HELOC origination; proven HIGH Originations and trading fees BEST REVENUE MODEL (9/10): best adoption, $1B revenue pathway Kinexys ( JPM ) JPM balance sheet + Axis Bank live; $3T+ processed since 2020 Interbank payments + collateral mobility VERY HIGH Embedded in JPM fee structure TOP TIER (8/10): captive bank distribution Tempo Paradigm, Stripe backing, live in March 2026; Nubank, Visa, Shopify Cross-border B2B payments; EM-focused MED-HIGH Transaction fees EMERGING (8/10): strong distribution, neutrality Circle Arc ( CRCL ) Visa, Mastercard, JPMorgan, Intuit, Interactive Brokers, XYZ Settlement + payments + tokenization VERY HIGH Reserve yield/Transaction fees/Bridge Fees STABLECOIN LEADER (8/10): deepest regulatory moat Base (Coinbase) Coinbase backing; 100M+ Coinbase verified users Payments, DeFi, tokenized assets, stablecoins MED-HIGH Transaction Fees; possible token CONSUMER BRIDGE (7/10): best on-ramp from TradFi Fnality BofA, Citi, Barclays, Lloyds, Temasek; testnet Wholesale interbank payments; central bank flows HIGH Not yet generating revenue; long to production LONG RUNWAY (5/10): early, but strong consortium Source: VanEck Research, Canton, Provenance, JPM as of 3/30/2026. Past performance is not a guarantee of future results. Not intended as a recommendation to buy or sell any securities named herein. (The key differentiator isn’t “blockchain or not.” It’s: who controls validators, who gets the economics, and whether ownership finality lives onchain or remains an offchain entitlement.) Implications if the CLARITY Act Is Passed Alt-token prices may mean-revert higher , but this may prove short-lived as investors recognize most value does not accrue to crypto projects. Equities of companies adopting blockchain technology may instead see multiple re-ratings. If CLARITY allows for compliant financial products, some activity can migrate back to open networks where it’s economically rational. Even with CLARITY, corpchains may have already won the “regulated value” lane because they’re pairing legal/compliance posture with direct rail access . The OCC’s conditional trust-charter approvals for major digital-asset firms reinforce that direction of travel. What to Watch Next Stablecoin scale growth : Stablecoin supply is ~$322B with +23% CAGR since 2022; accelerated to +29% CAGR over the last year. Tokenized security pilots graduating to production, especially DTCC/Canton Network programs. The first truly meaningful onchain equity event such as an IPO being entirely on blockchain. More “skinny” Fed access precedents after Payward and the limits placed on Payward’s master account by the Fed. How VanEck Is Positioned We have not responded to this cycle by throwing single-token spaghetti at the wall. Instead, we've been deliberate: launching a small number of differentiated exposures and adding staking where appropriate, while pivoting our most flexible mandates away from tokens in 4Q2024 and toward crypto-linked equities as the corpchain thesis gained traction. Our active strategies designed for this environment can own both tokens and equities, but have been meaningfully overweight equities, reflecting where we believe value is accruing. In parallel, our venture efforts are focused on early-stage companies building the infrastructure to enable tokenization and onchain settlement at scale. We don't pretend to know how this ultimately resolves. If the CLARITY Act passes or open public blockchains begin to demonstrate durable economic advantages in regulated finance, we will adapt. But absent market-structure clarity, we remain tilted toward the equities enabling the corpchain future rather than the tokens that may not capture its economics. Frequently Asked Questions What is a corporate blockchain? A corporate blockchain (or “corpchain”) is a permissioned distributed ledger operated by or for regulated institutions such as banks, exchanges, or fintechs. Unlike public blockchains like Ethereum or Solana, corpchains feature controlled validator sets, privacy, compliance tooling, and direct value capture for the operator. Examples include Canton, Provenance, Kinexys (JPMorgan), Tempo, Circle Arc, Fnality, and Base. How does the GENIUS Act affect stablecoins? The GENIUS Act creates a federal framework for payment stablecoins with 100% reserve backing, required disclosures and attestations, and full Bank Secrecy Act and anti-money laundering compliance. It effectively codifies regulated stablecoin issuers as “narrow-bank-like” entities that hold only safe, liquid reserves. As of early 2026, stablecoin supply sits at roughly $310B, with Visa processing $3.5B annualized in USDC payments and Fiserv distributing FIUSD through more than 10,000 financial institutions. Why are financial institutions building their own blockchains instead of using Ethereum or Solana? Institutions build corpchains to control validators, prevent asset leakage, ensure privacy and compliance, capture fee economics, and guarantee deterministic performance. Public blockchains struggle with governance, service guarantees, blockspace volatility, and potential interaction with prohibited parties, which makes them difficult to justify for regulated value transfer. More than 21 crypto entities have applied for state or national banking charters since 2020, reinforcing the trend toward compliant, institution-run infrastructure. Important Disclosures 1 VanEck Research, Wyoming Banking Division, as of 4/23/2026. This is not an offer to buy or sell, or a recommendation to buy or sell any of the securities, financial instruments or digital assets mentioned herein. The information presented does not involve the rendering of personalized investment, financial, legal, tax advice, or any call to action. Certain statements contained herein may constitute projections, forecasts and other forward-looking statements, which do not reflect actual results, are valid as of the date of this communication, and are subject to change without notice. Information provided by third party sources is believed to be reliable and has not been independently verified for accuracy or completeness and cannot be guaranteed. Definitions Index performance is not representative of fund performance. It is not possible to invest directly in an index. MVIS Global Digital Assets Equity Index (MVDAPPP) is designed to track the performance of the largest and most liquid companies in the digital assets segment. Companies must generate at least 50% of their revenues from digital assets projects or have projects that have the potential to generate at least 50% of their revenues from digital assets in the future to be eligible. Bitcoin ((BTC)) is a decentralized digital currency without a central bank or single administrator. It can be sent from user to user on the peer-to-peer Bitcoin network without intermediaries. Ethereum ((ETH)) is a decentralized, open-source blockchain with smart contract functionality. Ether is the native cryptocurrency of the platform. Solana (SOL) is a high-performance public blockchain that uses a proof-of-stake consensus mechanism. Its native token, SOL, is used for transaction fees and staking. XRP is the native digital asset of the XRP Ledger, an open-source, permissionless, and decentralized blockchain technology designed for cross-border payments and settlement. Risk Considerations The information, valuation scenarios and price targets presented on any digital assets in this blog are not intended as financial advice, a recommendation to buy or sell these digital assets, or any call to action. There may be risks or other factors not accounted for in these scenarios that may impede the performance of these digital assets; their actual future performance is unknown, and may differ significantly from any valuation scenarios or projections/forecasts herein. Any projections, forecasts or forward-looking statements included herein are the results of a simulation based on our research, are valid as of the date of this communication and subject to change without notice, and are for illustrative purposes only. Please conduct your own research and draw your own conclusions. Index performance is not representative of fund performance. It is not possible to invest directly in an index. Investments in digital assets and Web3 companies are highly speculative and involve a high degree of risk. These risks include, but are not limited to: the technology is new and many of its uses may be untested; intense competition; slow adoption rates and the potential for product obsolescence; volatility and limited liquidity, including but not limited to, inability to liquidate a position; loss or destruction of key(s) to access accounts or the blockchain; reliance on digital wallets; reliance on unregulated markets and exchanges; reliance on the internet; cybersecurity risks; and the lack of regulation and the potential for new laws and regulation that may be difficult to predict. Moreover, the extent to which Web3 companies or digital assets utilize blockchain technology may vary, and it is possible that even widespread adoption of blockchain technology may not result in a material increase in the value of such companies or digital assets. Digital asset prices are highly volatile, and the value of digital assets, and the companies that invest in them, can rise or fall dramatically and quickly. If their value goes down, there’s no guarantee that it will rise again. As a result, there is a significant risk of loss of your entire principal investment. Digital assets are not generally backed or supported by any government or central bank and are not covered by FDIC or SIPC insurance. Accounts at digital asset custodians and exchanges are not protected by SPIC and are not FDIC insured. Furthermore, markets and exchanges for digital assets are not regulated with the same controls or customer protections available in traditional equity, option, futures, or foreign exchange investing. Digital assets include, but are not limited to, cryptocurrencies, tokens, NFTs, assets stored or created using blockchain technology, and other Web3 products. Web3 companies include but are not limited to, companies that involve the development, innovation, and/or utilization of blockchain, digital assets, or crypto technologies. All investing is subject to risk, including the possible loss of the money you invest. As with any investment strategy, there is no guarantee that investment objectives will be met and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. Past performance is no guarantee of future results. © Van Eck Associates Corporation. Original Post

8 May 2026, 06:00

DeepBook Predict Testnet Launch: A Powerful Leap for On-Chain Prediction Markets

BitcoinWorld DeepBook Predict Testnet Launch: A Powerful Leap for On-Chain Prediction Markets DeepBook Protocol (DEEP) has officially launched its on-chain prediction market infrastructure, named ‘Predict,’ on the testnet of the Sui (SUI) layer-1 blockchain. This marks a significant step for decentralized finance (DeFi) options trading. DeepBook Predict: A New On-Chain Prediction Market DeepBook Predict is an options primitive that integrates with DeepBook’s existing spot and margin features. This combination supports the creation of binary markets, call and put options, leveraged products, and structured products. The infrastructure aims to bring institutional-grade capabilities to on-chain trading. The protocol has implemented a sophisticated options pricing model on-chain. This model comes from an options oracle developed in collaboration with Block Scholes. This partnership ensures that the pricing mechanism is both robust and accurate for traders. Predict also integrates with DeepBook’s margin function. This integration enables users to open leveraged positions directly within the platform. Transaction finality on the Sui network occurs in under 400 milliseconds, offering a fast trading experience. Current State of On-Chain Options TVL The on-chain options market currently holds a total value locked (TVL) of around $100 million. DeepBook notes that this figure is still in an early stage of development. The protocol believes that Predict will accelerate the expansion of DeFi options infrastructure. This launch comes at a time when DeFi protocols seek to bridge the gap between traditional finance and blockchain-based trading. Options markets are a cornerstone of traditional finance, providing hedging and speculative opportunities. Bringing these tools on-chain requires robust infrastructure and accurate pricing models. Key Features of DeepBook Predict Binary Markets: Users can create markets with two possible outcomes, similar to prediction markets. Call and Put Options: Standard options contracts are available for trading. Leveraged Products: The margin integration allows for leveraged trading positions. Structured Products: Complex financial instruments can be created and traded on-chain. Fast Finality: Transactions settle in under 400 milliseconds on the Sui network. Implications for the Sui Ecosystem The launch of DeepBook Predict strengthens the Sui blockchain’s DeFi ecosystem. Sui is known for its high throughput and low latency, which are essential for options trading. This infrastructure could attract more sophisticated traders and liquidity providers to the network. DeepBook’s approach combines spot trading, margin trading, and options in one platform. This unified interface simplifies the user experience. Traders can manage multiple strategies without switching between different protocols. The collaboration with Block Scholes adds credibility to the pricing model. Block Scholes is a well-known analytics firm in the crypto derivatives space. Their involvement suggests a focus on accuracy and institutional standards. Comparison with Traditional Finance Options Traditional options markets rely on centralized exchanges and clearinghouses. On-chain options offer transparency and self-custody. However, they also face challenges like liquidity fragmentation and smart contract risk. DeepBook Predict aims to address these challenges through its integrated design. By combining spot, margin, and options, it creates a more cohesive trading environment. The fast transaction finality on Sui also helps replicate the speed of traditional markets. The $100 million TVL in on-chain options is small compared to traditional markets. For context, the notional value of options traded on the Chicago Board Options Exchange (CBOE) often exceeds billions of dollars daily. This gap highlights the growth potential for DeFi options. Technical Architecture of DeepBook Predict The platform uses an options oracle to determine fair prices for contracts. This oracle aggregates data from multiple sources to prevent manipulation. The pricing model is based on established financial mathematics, including the Black-Scholes model adapted for blockchain. Margin integration allows users to borrow funds to increase their position size. This feature requires careful risk management to prevent liquidations. DeepBook uses automated mechanisms to maintain collateralization ratios. The Sui network’s parallel execution engine enables high throughput. This design allows DeepBook Predict to handle many transactions simultaneously without congestion. This is a critical advantage for time-sensitive options trading. Expert Insights on DeFi Options Growth Industry observers see on-chain options as the next frontier for DeFi. The current $100 million TVL represents a small fraction of the total crypto derivatives market. As infrastructure improves, more capital is expected to flow into on-chain options. DeepBook’s focus on institutional-grade features may attract professional traders. These traders often require reliable pricing, fast execution, and robust risk management. The collaboration with Block Scholes addresses the pricing requirement directly. The testnet launch allows developers and users to test the platform before mainnet deployment. This phase helps identify bugs and optimize performance. It also builds community trust in the system’s reliability. Conclusion DeepBook Predict represents a significant advancement for on-chain prediction markets and DeFi options infrastructure. By launching on the Sui testnet, the protocol demonstrates a commitment to innovation and scalability. The integration of institutional-grade pricing, margin trading, and fast finality positions DeepBook as a key player in the growing DeFi options space. As the market matures, such infrastructure will be essential for attracting both retail and institutional participants to on-chain derivatives trading. FAQs Q1: What is DeepBook Predict? DeepBook Predict is an on-chain options and prediction market infrastructure built on the Sui blockchain. It allows users to create and trade binary markets, call and put options, leveraged products, and structured products. Q2: How does DeepBook Predict ensure accurate pricing? The protocol uses an options oracle developed in collaboration with Block Scholes. This oracle implements an institutional-grade options pricing model directly on the blockchain. Q3: Can users trade with leverage on DeepBook Predict? Yes, Predict integrates with DeepBook’s margin function, enabling users to open leveraged positions. This feature requires proper collateral management to avoid liquidation. Q4: What is the transaction speed on the Sui network for this platform? Transactions on DeepBook Predict achieve finality in under 400 milliseconds, thanks to the Sui blockchain’s high-performance architecture. Q5: What is the current total value locked (TVL) in on-chain options markets? According to DeepBook, the on-chain options market TVL is approximately $100 million, which they consider an early stage with significant growth potential. This post DeepBook Predict Testnet Launch: A Powerful Leap for On-Chain Prediction Markets first appeared on BitcoinWorld .

8 May 2026, 05:10

Shapeshift Founder Erik Voorhees Adds $6.67 Million in ETH, Signaling Strong Conviction

BitcoinWorld Shapeshift Founder Erik Voorhees Adds $6.67 Million in ETH, Signaling Strong Conviction Erik Voorhees, the founder of cryptocurrency exchange ShapeShift and a well-known early Bitcoin advocate, has made another significant investment in Ethereum. According to on-chain data from Lookonchain, Voorhees purchased 2,920 ETH, valued at approximately $6.67 million, just 20 minutes before the report. The transaction was executed via a single wallet address, underscoring his continued confidence in the second-largest cryptocurrency by market capitalization. Context of the Purchase This is not an isolated event. Voorhees has been a consistent buyer of Ethereum over the past several months, accumulating substantial amounts during market dips. His latest acquisition comes at a time when the broader crypto market is navigating regulatory uncertainty and price volatility. Voorhees, who has publicly advocated for decentralized finance and self-custody, has positioned himself as a long-term believer in Ethereum’s utility and its role in the future of financial infrastructure. Implications for the Market High-profile purchases by industry leaders like Voorhees often serve as a signal to retail and institutional investors. While individual transactions do not dictate market trends, they can influence sentiment. The purchase adds to a growing narrative of accumulation among crypto-native entities, even as external market conditions remain mixed. Analysts point out that such moves reflect a belief in Ethereum’s fundamental value, particularly with the ongoing development of layer-2 scaling solutions and the broader adoption of decentralized applications. Why This Matters For readers, this news provides a real-world example of how experienced market participants are allocating capital. It offers insight into the conviction levels of those who have been in the space since its early days. It also highlights the transparency of blockchain transactions, which allow the public to track large movements of digital assets in near real-time. Conclusion Erik Voorhees’ latest $6.67 million ETH purchase reinforces his long-standing bullish stance on Ethereum. While no single trade defines a market, the pattern of accumulation by a prominent figure adds a layer of credibility to the asset’s long-term outlook. As always, readers should consider this as one data point among many when evaluating their own investment strategies. FAQs Q1: Who is Erik Voorhees? Erik Voorhees is the founder of ShapeShift, a non-custodial cryptocurrency exchange, and a prominent early supporter of Bitcoin and decentralized finance. Q2: How was this purchase tracked? The transaction was identified and reported by Lookonchain, a blockchain analytics platform that monitors large on-chain movements. Q3: Does this mean Ethereum’s price will rise? Not necessarily. While large purchases can influence sentiment, market prices are determined by a wide range of factors, and no single transaction guarantees future price movement. This post Shapeshift Founder Erik Voorhees Adds $6.67 Million in ETH, Signaling Strong Conviction first appeared on BitcoinWorld .

8 May 2026, 05:00

DeFi Platform TrustedVolumes Hit By $6.7M Hack As 2026 Exploits Surge

Another multi-million-dollar attack has hit the DeFi sector after liquidity provider and market maker TrustedVolumes fell victim to a smart contract exploit on Thursday night. Related Reading: Solana Eyes New Leg Up After Triangle Breakout – Is $96 The Next Stop? TrustedVolumes Hit By $6.7M Hack On Thursday, DeFi platform TrustedVolumes, one of 1inch liquidity providers and market makers, suffered a new exploit that drained millions of dollars in multiple assets from the project. According to reports from blockchain security firms PeckShield and Blockaid, the attacker stole approximately $6 million in Wrapped Ethereum (WETH), Wrapped Bitcoin (WBTC), USDT, and USDT after exploiting a vulnerability in the protocol’s core signature validation logic, which allowed them to bypass authorization checks and forge trading orders. Notably, the hacker quickly exchanged all assets for 2.513 ETH on a Decentralized Exchange (DEX) and distributed them across three addresses. In an X post, TrustedVolumes confirmed the incident, sharing the addresses currently holding the stolen funds and updating the estimated loss to roughly $6.7 million. The vulnerability was a TrustedVolumes-controlled custom RFQ (request for quote) swap proxy. Crypto researcher Humphrey explained that “the Custom RFQ Swap Proxy contract contains a function designed to manage the ‘authorized order signer’ whitelist. Such whitelist mechanisms are common in DeFi—only addresses on the whitelist can issue valid transaction instructions on behalf of the protocol.” However, he noted that “this registration function is public and lacks any permission modifiers.” As a result, the attacker exploited this public function within the contract, registering themselves as an authorized order signer. “Since any external address can call this function, it is equivalent to giving everyone the ability to make a copy of the safe’s key,” the researcher continued. Same Hacker, Different Attack The online reports revealed that the attacker was the same hacker responsible for the $5 million 1inch Fusion V1 Settlement contract exploit in March 2025, which TrustedVolumes was the primary victim. Humprey highlighted that while the same individual carried out both attacks, they were significantly different on a technical level. According to the post, the 2025 vulnerability involved low-level EVM memory manipulation in the 1inch Fusion V1 Settlement contract. At the time, the hacker “proactively initiated on-chain negotiations,” offering to return the stolen assets for a white hat bounty. The DeFi platform accepted the proposal, and most of the funds were safely returned. Now, TrustedVolumes affirmed that it is “open to constructive communication regarding a bug bounty and a mutually acceptable resolution.” Decentralized exchange aggregator 1inch clarified that there was no impact on its systems, infrastructure, or user funds, explaining that “TrustedVolumes operate independently as a liquidity provider, used by multiple protocols across the industry, and are not exclusive to 1inch.” DeFi Exploits See Historic Surge This attack follows a wave of exploits that has shaken the DeFi sector over the past month. Last week, PeckShield revealed that the crypto space saw 40 major hacks in April, which drained approximately $647 million. Related Reading: $150M Crypto Ponzi Crumbles: $41.5M Frozen In DSJ Exchange Collapse This figure represents a 1,140% Month-over-Month (MoM) increase from March’s $52.2 million. It also represents a 292% surge from the $165 million the DeFi sector lost during the first quarter of 2026. Notably, the top two incidents of the month, Drift Protocol’s $285 million and KelpDAO’s $290 million exploits, accounted for 91% of the funds lost last month. In addition, they now rank among the Top 10 hacks since 2021. Featured Image from Unsplash.com, Chart from TradingView.com