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24 Mar 2026, 09:23
Post-Hack Pressure Pushes Balancer Labs to Wind Down Operations, Restructure Protocol
Balancer Labs, the entity behind the DeFi protocol Balancer, is moving to wind down its current structure after months of financial strain. Its leadership has proposed a scaled-down model to keep the Balancer protocol operational. CEO Marcus Hardt said two governance proposals have been submitted to overhaul the protocol’s structure, following months of crisis management after the November exploit. Economic Model Breakdown In a recent post on X, he explained that while Balancer’s core technology, including its v3 upgrade and boosted pools, remains functional, the economic design around the protocol had become unsustainable. According to Hardt, Balancer was allocating excessive incentives to attract liquidity relative to the revenue generated, which led to dilution of BAL token holders. The proposed changes aim to address this by eliminating BAL emissions, redirecting all protocol fees to the treasury, lowering swap fees retained by the protocol to benefit liquidity providers, and transitioning to a significantly leaner team. The proposals also include measures to address the impact on veBAL holders, including a buyback and compensation initiative, as the restructuring would remove existing economic rights tied to token locking. The exec added that the goal is to provide participants with an exit or transition path rather than enforce participation under revised terms. While highlighting that the transition would require stricter execution going forward, Hardt also said, “That does not mean everything is solved or that we should start making promises we have not earned the right to make. We need to execute well on the core first. We need to be more disciplined, more focused, and much clearer about what creates real value and what does not.” Exploit and TVL Crash The restructuring comes after a long period of decline for Balancer. Once a major DeFi platform during the 2020-2021 cycle, the protocol’s total value locked peaked above $3 billion in November 2021 before falling to $800 million by October 2025, according to data compiled by DeFiLlama. The November hack further accelerated outflows as it wiped out an additional $500 million in TVL within two weeks. Balancer’s TVL has since dropped below $160 million. The post Post-Hack Pressure Pushes Balancer Labs to Wind Down Operations, Restructure Protocol appeared first on CryptoPotato .
24 Mar 2026, 09:17
SWIFT Names Ripple-Linked Banks in New Payment Framework — XRP Army Takes Notice
SWIFT’s New Payments Push Puts Ripple Back in the Spotlight SWIFT’s latest announcement is gaining widespread attention across the financial sector, not just for its scale, but for what it signals about the future of global payments. Notably, out of the more than 50 banks named , at least 30 of them have partnered with Ripple with the new SWIFT’s retail payments framework designed to modernize and streamline cross-border transactions. SWIFT’s “Global Payments Framework for Consumer Payments” is slated to roll out in 2026, bringing together more than 50 participating banks. By mid-2026, over 25 key payment corridors are expected to go live, covering major routes across India, the UAE, Pakistan, Australia, the UK, the US, China, and Thailand. The framework is designed to deliver predictable fees, full-value transfers without deductions, end-to-end transaction visibility, near-instant settlement where possible, and full alignment with ISO 20022 messaging standards. At face value, this reflects SWIFT reinforcing its position as the backbone of international banking, but it has also fueled discussion in crypto and fintech circles about blockchain-based alternatives like Ripple and its RippleNet network, which aim to streamline cross-border payments with faster settlement and lower friction. SWIFT’s Evolution Meets Ripple’s Reach: How Global Banks Are Bridging Traditional Payments and Blockchain Infrastructure Several of the banks mentioned in SWIFT’s update already have ties to Ripple’s ecosystem. Akbank was among the early adopters of Ripple-based blockchain payments in Turkey, while ANZ Bank tested Ripple’s protocol as early as 2015 to improve cross-border transfers. In India, Axis Bank has run live RippleNet corridors since 2017, and Bank Alfalah has leveraged Ripple-powered infrastructure for UAE–Pakistan remittances since 2021. Beyond these, institutions such as Santander, BBVA, Standard Chartered, HDFC Bank, ICICI Bank, and State Bank of India have all explored or integrated Ripple’s technology in different capacities. Global players including Bank of America, Citigroup, Deutsche Bank, HSBC, and JPMorgan Chase have also participated in blockchain pilots and related initiatives, underscoring the broader industry shift toward modernized payment infrastructure. Earlier this year, Deutsche Bank combined Ripple’s blockchain infrastructure with SWIFT to develop an enhanced ledger aimed at speeding up and streamlining cross-border payments, highlighting how traditional messaging systems are increasingly integrating with distributed ledger technology. Furthermore, banking giants like Morgan Stanley have openly explored Ripple as an ideal SWIFT alternative based on discussions around more efficiency and lower-cost settlement models. With SWIFT already handling tens of millions of messages daily across a vast global network, the direction of travel appears less about competition and more about convergence. Therefore, the growing intersection between SWIFT’s established rails and Ripple’s institutional adoption points to a payments ecosystem that is gradually being reshaped from within, rather than replaced outright. Conclusion SWIFT’s efforts to modernize its global payments infrastructure, alongside Ripple’s expanding footprint across banking corridors, reflect a broader shift in how financial institutions are rethinking cross-border settlement. Rather than a winner-takes-all outcome, the growing overlap points to a gradual convergence toward faster, more transparent, and interoperable payment systems. As major institutions, including those linked to firms like Morgan Stanley, continue exploring blockchain-enabled efficiencies, the industry’s direction is becoming clearer: reducing friction in global value transfer. In this evolving landscape, distributed ledger technology is not positioned to replace legacy systems like SWIFT, but to complement and enhance them, paving the way for a hybrid financial ecosystem where traditional networks and blockchain solutions operate side by side.
24 Mar 2026, 08:53
1.72 Million BTC Trapped in ‘No-Trade Zone’ Could Trigger Next Big Bitcoin Move
Bitcoin has been trapped within the $60,000 to $70,000 zone for several months. While it recently broke above $75,000, escalating geopolitical tensions have hindered a prolonged bull run toward $80,000. A popular analyst now notes that more than 1.72 million coins are stuck in this zone, and if the price breaks out, a big move Originally published on ZyCrypto - blockchain news, expert analysis, and Web3 coverage. Full article at ZyCrypto.com
24 Mar 2026, 08:33
Balancer Labs Winds Down Amid Major Security Breach And Restructuring Plans
Balancer Labs is shutting down after a major security incident impacted operations. The protocol will shift to DAO and foundation control with significant changes proposed. Continue Reading: Balancer Labs Winds Down Amid Major Security Breach And Restructuring Plans The post Balancer Labs Winds Down Amid Major Security Breach And Restructuring Plans appeared first on COINTURK NEWS .
24 Mar 2026, 08:33
Balancer Labs shuts down after $110M exploit rocks DeFi market
Balancer Labs, the corporate entity behind the decentralised exchange protocol Balancer, is shutting down as financial strain and legal risks reshape its future. Co-founder Fernando Martinelli confirmed the decision in a governance forum post on Tuesday, stating that the company is no longer sustainable. The move follows security incidents, including a major exploit in November 2025 that drained about $110 million in digital assets. The entity that incubated and funded the protocol will be wound down under a broader restructuring plan. Exploit impact and legal exposure The November 2025 exploit marked the third known breach linked to Balancer and involved assets such as osETH, WETH, and wstETH. Martinelli cited the incident as a key reason for closing Balancer Labs, noting that the corporate structure had become a liability. The breach introduced legal exposure that made it difficult to sustain the organisation without a stable source of income. Martinelli said he had considered shutting down the entire ecosystem but decided against it because the protocol continues to generate fees. Declining metrics reshape strategy Balancer was once among the most prominent names in decentralised finance. At its peak in late 2021, total value locked approached $3.5 billion, placing it alongside Aave, Uniswap, and Curve. TVL reached $2.96 billion in October 2021, with annualised fees exceeding $6 million. That position has changed sharply. TVL now stands at $157 million, representing a drop of about 95% from peak levels. The protocol’s token has also lost ground. BAL trades at $0.16, with a market capitalisation of around $10 million and a fully diluted valuation of $11 million. Revenue persists but not enough Despite the decline, the protocol continues to generate income. Over the past three months, Balancer has produced more than $1 million in annualised fees. However, this level of revenue is not sufficient to support the current operating structure. The restructuring plan focuses on aligning costs with revenue by reducing overhead. Governance overhaul and cost cuts The proposed changes include ending BAL emissions entirely, removing what Martinelli described as a circular incentive system. The veBAL governance model will also be wound down. Martinelli pointed to the influence of meta-governance protocols such as Aura and bribe markets, which he said made voting unrepresentative of contributors. Protocol fee distribution will shift. The DAO treasury is set to capture 100% of revenue, compared with the current 17.5%. The v3 protocol share will drop to 25% in an effort to attract liquidity. A buyback programme is also planned to provide exit liquidity for token holders who do not support the new structure. Leaner structure and narrowed scope Under the restructuring, essential team members from Balancer Labs will move into Balancer OpCo, subject to a governance vote. Martinelli will step away from any formal role after the wind-down but may remain involved as an advisor. The product strategy is being streamlined to focus on reCLAMM pools, liquidity bootstrapping pools, stablecoin and liquid staking token pools, weighted pools, and expansion to non-EVM chains. The post Balancer Labs shuts down after $110M exploit rocks DeFi market appeared first on Invezz
24 Mar 2026, 08:31
Tom Lee Tips End To ‘Mini Crypto Winter’ As BitMine Doubles Down With $140M ETH Buy
BitMine Immersion Technologies chairman Tom Lee has signaled that the “mini crypto winter” affecting Ether may be nearing its end. Originally published on ZyCrypto - blockchain news, expert analysis, and Web3 coverage. Full article at ZyCrypto.com
