hodler

26 May 2026, 02:05

Circle Is Becoming A Chain, And That Is The Conflict GENIUS Missed

Circle raised $222M for Arc, its own layer-one blockchain. An issuer owning the rail its USDC settles on is the conflict the GENIUS Act never addressed.

26 May 2026, 01:20

Ondo Finance Founder Nathan Allman Dies Suddenly, Company Vows to Continue His Work

BitcoinWorld Ondo Finance Founder Nathan Allman Dies Suddenly, Company Vows to Continue His Work Ondo Finance, a leading platform for tokenizing real-world assets (RWA), has announced the sudden death of its founder, Nathan Allman. The company shared the news in a statement on its official X account, expressing deep sadness over the unexpected loss. Company Statement and Leadership Transition In its message, Ondo Finance described Allman as a visionary leader who helped build a robust organization with experienced leaders capable of managing all aspects of the business. The company affirmed its commitment to continue building on what Allman started, calling it the most meaningful way to honor his legacy. No further details about the cause of death have been disclosed at this time. Impact on Ondo Finance and the RWA Sector Allman founded Ondo Finance to bridge traditional finance with blockchain technology by tokenizing real-world assets such as bonds, credit, and other financial instruments. The platform has been a key player in the growing RWA tokenization market, which aims to increase liquidity and accessibility for institutional-grade assets. His sudden passing raises questions about leadership continuity, but the company has moved quickly to reassure investors and partners of its operational stability. Market Reaction and Community Response The announcement has prompted an outpouring of condolences from the cryptocurrency and decentralized finance (DeFi) community. Industry peers and partners have highlighted Allman’s contributions to advancing the tokenization of real-world assets. As of this writing, the ONDO token has experienced volatility, reflecting market uncertainty following the news. However, analysts note that the company’s strong management team may help mitigate long-term disruption. Conclusion The death of Nathan Allman marks a significant moment for Ondo Finance and the broader RWA tokenization sector. While the company has indicated it will continue operations under existing leadership, the loss of its founder introduces a period of transition. Investors and industry observers will be watching closely for further announcements regarding succession plans and strategic direction. FAQs Q1: Who was Nathan Allman? Nathan Allman was the founder of Ondo Finance, a platform focused on tokenizing real-world assets (RWA) using blockchain technology. He was a key figure in the DeFi and tokenization space. Q2: Will Ondo Finance continue operating after Allman’s death? Yes, the company has stated it will continue building on Allman’s work, citing a strong leadership team in place to manage all aspects of the business. Q3: What is the ONDO token and how has it been affected? ONDO is the native token of the Ondo Finance platform. Following the announcement, the token has seen price volatility as the market digests the news, though long-term impact remains uncertain. This post Ondo Finance Founder Nathan Allman Dies Suddenly, Company Vows to Continue His Work first appeared on BitcoinWorld .

26 May 2026, 01:05

Kelp DAO completes final rsETH recovery phase after $292M hack

BitcoinWorld Kelp DAO completes final rsETH recovery phase after $292M hack Kelp DAO, the liquid restaking protocol that suffered a $292 million security breach earlier this year, announced on Wednesday that it has successfully completed the final stage of its rsETH recovery plan. The project transferred a final batch of 23,737.72 rsETH to its Omnichain Fungible Token (OFT) adapter, marking the end of a structured restoration process that began shortly after the exploit. Recovery timeline and execution In a post on X, Kelp DAO confirmed that it and the Aave protocol had replenished approximately 116,000 rsETH to the OFT adapter over the past two weeks. This final transfer completes the recovery phase, which was designed to restore user funds and re-establish normal operations following the attack that drained a significant portion of the protocol’s assets. The incident, which occurred in early 2025, involved an exploit that targeted Kelp DAO’s cross-chain infrastructure. The project immediately paused operations and worked with security firms and partners to trace and recover funds. The structured recovery plan was announced shortly after, with phased transfers aimed at minimizing disruption to the broader DeFi ecosystem. Operational status and collateralization According to Kelp DAO’s statement, all core functions — including minting, redemption, and rewards distribution — are now operating normally. The project emphasized that rsETH remains fully collateralized, with no remaining exposure from the exploit. This is a significant milestone for the protocol, which had faced intense scrutiny from the DeFi community following the hack. The successful recovery demonstrates the resilience of the project’s infrastructure and the effectiveness of its partnership with Aave, which played a key role in replenishing the affected tokens. Implications for the DeFi ecosystem The Kelp DAO recovery is being closely watched by the broader DeFi industry as a case study in post-exploit remediation. The structured approach — involving phased transfers, transparent communication, and collaboration with lending protocols — could serve as a template for other projects facing similar crises. However, the incident also underscores persistent security vulnerabilities in cross-chain infrastructure. As DeFi protocols continue to expand across multiple blockchains, the attack surface for potential exploits grows correspondingly. Kelp DAO’s ability to fully restore user funds is a positive outcome, but it does not eliminate the underlying need for improved security standards across the industry. Conclusion Kelp DAO’s completion of the rsETH recovery phase marks the end of a challenging chapter for the protocol. With all functions restored and full collateralization confirmed, the project can now focus on rebuilding user trust and strengthening its security posture. For the DeFi ecosystem, the incident serves as both a cautionary tale and a demonstration of what effective crisis management can achieve. FAQs Q1: What was the Kelp DAO hack? A: Kelp DAO suffered a $292 million security exploit in early 2025 that targeted its cross-chain infrastructure. The attack drained a significant portion of the protocol’s rsETH reserves, prompting an immediate pause in operations and the launch of a structured recovery plan. Q2: How much rsETH was recovered? A: Approximately 116,000 rsETH were replenished to the Omnichain Fungible Token (OFT) adapter over a two-week period, with the final batch of 23,737.72 rsETH transferred in the last phase. The project confirms that rsETH is now fully collateralized. Q3: Are Kelp DAO’s operations back to normal? A: Yes. All minting, redemption, and rewards functions are operating normally. The protocol has resumed full operations following the completion of the recovery plan. This post Kelp DAO completes final rsETH recovery phase after $292M hack first appeared on BitcoinWorld .

26 May 2026, 00:40

Solstice token drops over 40% on launch day as airdrop recipients sell SLX

Solstice’s SLX token lost more than 40% of its value within hours of going live on May 25, as airdrop claimers flooded the market with sell orders during the Solana-based protocol’s token generation event (TGE). The token opened trading on Binance Alpha at 12:00 UTC with a fully diluted valuation near $230 million, according to reports. However, within minutes, SLX shed roughly 30% from its first-trade highs. By the time CoinGecko flagged the decline later in the day, the decline had gone past 40% Who earned the SLX airdrop? Binance Wallet made an announcement stating that users who hold at least 215 Alpha Points could claim 250 SLX tokens on a first-come, first-served basis. The cost of each claim is 15 Alpha Points, and uncollected tokens led to a five-point threshold reduction every five minutes. Furthermore, recipients had 24 hours to confirm or forfeit. Another claims portal for users who had earned Flares (Solstice’s pre-TGE reward points) or participated in the public sale opened at 13:00 UTC, and this was one hour after Binance Alpha trading began, according to the protocol’s TGE documentation. The token listings on other CEXs and DEXs, including Kraken, Gate, OKX, MEXC, Bitget, and PancakeSwap, followed at 14:00 UTC. Are airdrop sellers affecting token price? Research from OneSafe found that about 64% of airdrop recipients sell their tokens immediately after distribution, and 88% of airdropped tokens lose value within three months, making the current turn of events quite familiar. Linea’s September 2025 TGE saw a similar trajectory as the LINEA token fell more than 33% in its first hours as whale wallets dumped allocations on DEXs, per Cryptopolitan. Jupiter’s JUP token is another incident that serves as a precedent, as the Solana DEX aggregator distributed 700 million tokens in January 2025. Unfortunately, JUP dropped 6% on launch day and eventually fell 59% from its all-time high. Are protocol fundamentals clashing with market reality? Solstice has been known for its strong on-chain metrics, and it entered its TGE with that strength. The protocol holds $397.92 million in total value locked (TVL) as of May 25, anchored by USX, one of Solana’s largest synthetic stablecoins. Three days before the token launch, NYSE-listed exchange Bullish (NYSE: BLSH) had allocated capital to Solstice’s eUSX yield strategy, pushing TVL past $400 million and adding to an institutional base of more than 30 allocators. Despite its strong footing, SLX still suffered from day-one price discovery. With its market cap currently at $64 million and its price set at $0.20 after the sell-off. However, these fundamentals did not save SLX from day-one price discovery. DefiLlama places the token’s market cap at $64 million and its price at $0.20 after the selloff, against a fully diluted valuation of $198.3 million. The smartest crypto minds already read our newsletter. Want in? Join them .

25 May 2026, 23:45

CZ Denies Viral Rumors of Surfing Accident in Dubai

Changpeng Zhao (CZ) has denied viral rumors of his disappearance after he was allegedly caught in a strong rip current while surfing in Dubai. The story spread quickly across social media, with traders also rushing in to capitalize on the speculation by launching meme coins on Solana and the BNB chain. CZ Dispels Surfing Accident Claims WeChat users circulated the fake news in group chats over the weekend, saying the Binance founder had been surfing near Dubai’s Jumeirah Beach when a sudden rip current dragged him out to sea. The rumors even said that local Coast Guard and rescue teams had deployed speedboats, drones, and helicopters for a search operation in response to police reports. Zhao has since dismissed the report as “fake news,” taking to his X account to point out the inconsistencies in the social media story. He clarified that while he does participate in kitesurfing, traditional surfing is a completely different sport. The Binance founder later added that whenever he goes kitesurfing, he has a dedicated safety boat following him. “I don’t surf (kite surfing is a diff sport). Dubai is not even a surfing destination. There is Surf Abu Dhabi, world’s largest surf place, which I havent tried yet,” he wrote. Accident Rumor Starts Meme Coin Frenzy Traders were quick to seize the opportunity, launching several meme coins within hours of the news breaking. Tokens appeared on the Solana network, attracting speculators who rushed in to profit from the confusion. According to data from GeckoTerminal, most of the pools on pump.fun associated with the happening failed to attract substantial liquidity, although one of the meme coins did reach over $114,000 in activity in mere hours. However, the excitement did not last long, as most of these coins lost over 40% of their value after CZ denied the rumor and confirmed he was safe. The 49-year-old is known for his skeptical view of meme coins, accusing traders of chasing hype by launching tokens tied to his name in the past. Zhao has previously described the trend as “a little weird” and urged developers to focus on building practical blockchain applications instead. Zhao later emphasized that he had never invested in meme coins following the TST token launch incident last year, which went viral after being promoted as linked to Binance despite having no official connection to the exchange. The post CZ Denies Viral Rumors of Surfing Accident in Dubai appeared first on CryptoPotato .

25 May 2026, 21:32

Charles Hoskinson Declares “100% Focus” On Cardano after Closing Clinic Business

Cardano's Hoskinson has declared that he is now “100% focused” on the blockchain ecosystem after the collapse of his ambitious healthcare venture in Wyoming.