24 May 2025, 11:54

Sui Foundation stays neutral as $162m hack recovery goes to vote

The Sui Foundation has announced it will abstain from an upcoming community vote on recovering $162 million in frozen funds from the recent Cetus protocol hack. The decision comes as the blockchain network prepares for an on-chain governance vote to decide whether to implement a protocol upgrade for fund recovery. Following Wednesday’s action by Sui ( SUI ) validators to freeze stolen assets, Cetus has formally requested community approval for a protocol upgrade that would return the locked funds without reversing transaction history or rolling back the blockchain. You might also like: Cetus Protocol hack and Sui exploit: The full story behind the $260 million breach Sui validators coordinated emergency freeze The Sui validator network responded quickly to the security breach by implementing emergency measures to prevent further asset drainage. Over one-third of validators by stake weight ignored transactions from two addresses believed connected to the attack. This effectively immobilized approximately $162 million worth of digital assets. On Wednesday, the Sui validator community acted quickly to freeze $162M of the stolen funds. Here’s how that happened: – Each validator has a configuration file that allows it to ignore transactions from a specific address. – Adding addresses to this file is at the discretion… https://t.co/pVLTItN0MH — Sui (@SuiNetwork) May 23, 2025 The freezing mechanism operates through individual validator configuration files that allow nodes to exclude specific addresses from transaction processing. Each validator maintains discretionary control over this function, which can be activated or reversed independently based on individual risk assessments or compliance requirements. While validators successfully prevented the attacker from bridging a substantial portion of the stolen funds off the Sui network, approximately $60 million in assets had already been moved before the freeze took effect. Cetus has mentioned it is collaborating with Inca Digital, security firms, and international law enforcement agencies to recover the remaining compromised funds. The Sui Foundation shared two conditions for supporting the community vote process. First, the foundation will maintain complete neutrality regarding the outcome. They stressed its role as a facilitator rather than a decision-maker for community governance. Second, Cetus must publicly commit to deploying all available financial resources toward full customer restitution. “This is an extraordinary request in response to extraordinary need – Cetus’s customer funds are at stake,” the Sui Foundation stated. Cetus has expressed willingness to respect whatever decision emerges from the community vote. They noted that “no one can make this decision unilaterally.” The protocol upgrade vote will involve major network participants, including validators and SUI token stakers. Cetus had also offered a $6 million bounty to the hacker to retrieve the funds. Read more: Solaxy and Pepeto rise as Nasdaq composite, ETH, DOGE, and Pepe coin heat up

24 May 2025, 06:30

Arbitrum Launches Vote on ArbOS 40 “Callisto” Upgrade: A Leap Toward Ethereum Alignment and Native Account Abstraction

Arbitrum , which is among the front-running Layer 2 scaling solutions for Ethereum, has officially opened community voting on its latest protocol upgrade—ArbOS Version 40, codenamed “Callisto.” The vote, which has a seven-day window and is scheduled to conclude on May 29, could usher in one of the most significant technical enhancements to the Arbitrum ecosystem to date. If approved, ArbOS 40 will enable Arbitrum One and Arbitrum Nova to match Ethereum’s forthcoming Pectra update. The proposal brings with it a series of substantial updates aimed at modernizing the core functions of these chains, making them far easier for developers to work with, and ensuring that the kinds of applications stemming from these chains will be more powerful and user-friendly than ever. Bridging the Gap with Ethereum: ArbOS 40 Introduces Key EIPs Typically, user wallets and other Externally Owned Accounts (EOAs) are not as feature-rich as smart contracts. However, EIP-7702 changes this reality and allows EOAs to execute smart contract code. This has been heralded as a new form of native account abstraction, where EOAs can now do many of the things that smart contract wallets can do. For us developers, this marked an important step toward a more flexible blockchain experience. Also included is EIP-2537, which provides support for modern cryptography through new precompiles. These improve efficiency and bring native support for onchain BLS (Boneh–Lynn–Shacham) signature verification, which is a key requirement for advanced cryptographic applications, like the following: 1. Zero-knowledge proofs 2. Threshold signatures 3. Ethereum consensus clients. Also included in this package is EIP-2935. This allows for the direct onchain storage of 27 hours’ worth of historical block hashes by Arbitrum nodes. This feature is crucial for developers who demand recent blockchain states to be accessible in a trustless manner. This is particularly the case when it comes to decentralized applications that hinge on either cross-chain messaging or the secure verification of historical data. Arbitrum's next major protocol upgrade is now live for voting, with 7 days remaining. ArbOS 40 "Callisto" brings @arbitrum One and Nova into alignment with @ethereum 's Pectra upgrade. Here's a quick breakdown pic.twitter.com/c3et1fdgym — Entropy Advisors (@EntropyAdvisors) May 22, 2025 Developer-Focused Enhancements: Stylus VM Fix Apart from the EIPs that made it to the headlines, ArbOS 40 also brings an improvement to the Stylus virtual machine, which is Arbitrum’s advanced execution environment. This is a subtle but meaningful update. It fixes a caching issue that was causing inconsistencies when developers were attempting to work with contracts that didn’t exist at the time of execution. While this fix might seem minor, it guarantees a much greater level of accuracy and predictability for developers, which is crucial for our fundamental Building Blocks of stable, reliable, decentralized applications (dApps). Even within the context of the Arbitrum ecosystem, where developers are utilizing our tools to build the next generation of dApps, improvements like this can only result—in my humble opinion—in a smoother development workflow and more secure applications. This exemplifies the continued work of Arbitrum to enhance its platform with an eye towards meeting developer demands, and it cements Arbitrum’s standing as a rock-solid, forward-thinking blockchain network. Strong Community Backing as Vote Approaches Final Stretch Support for ArbOS 40 from the community has been overwhelming. Right now, about 172 million ARB tokens have been voted in favor of the proposal. That breaks down to about 78 percent of the quorum we need to hit, which is 219.5 million ARB tokens. So far, 2,724 individual voters have participated. And guess what? The support for the upgrade is at an astronomically low number—0.01 percent—so it’s highly likely that we’ll receive the thumbs up for it if voters keep participating at the same rate. If the upgrade is successful, Arbitrum will boost its own infrastructure and will also solidify even further its own interoperability with Ethereum. This alignment with Ethereum’s Pectra upgrade ensures that Arbitrum remains compatible and relevant as the broader ecosystem continues to evolve. For developers, users, and infrastructure partners, ArbOS 40 is more than a simple upgrade. It’s a substantial boost in the platform’s core capabilities, and it’s yet another step toward the next big thing in Ethereum’s evolution. The Arbitrum community has until May 29 to put their thumbs up or down on ArbOS, and with that vote, they’ll make a real difference in what happens next with the platform. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news !

23 May 2025, 16:06

Cardano Price Prediction: $600M Controversy Erupts — Will ADA Buckle or Bounce?

A growing feud between Cardano (ADA) founder Charles Hoskinson and NFT artist Masato Alexander has taken a sharp turn, with new accusations and private messages surfacing amid a $619 million controversy. Alexander alleges Hoskinson covertly rerouted 318 million ADA from presale wallets into Cardano reserves during the 2021 Allegra hard fork—an accusation Hoskinson flatly denies. Hoskinson responded on X, claiming the allegations are a ploy to attract attention for Alexander’s Ethereum-based project, Akua. “So the defamation was just about increasing his visibility to fund-raise for an Ethereum project???” Hoskinson posted on Wednesday, sharing a screenshot of a private exchange where Alexander mentioned seeking funding. Alexander swiftly fired back, questioning the ethics of publicizing private messages and referencing earlier conversations with Cardano developer Phil Harman, who had suggested an Akua version on Cardano. Harman later criticized the disclosure : “What is the purpose of releasing these DMs…?” Akua’s February 2025 white paper describes it as an Ethereum-compatible prediction market focused on earthquake risk. This has fueled speculation among Cardano community members, who argue Alexander’s campaign is driven by financial motives rather than principle. Hoskinson has threatened legal action and commissioned independent audits to verify that over 99.8% of presale ADA was properly redeemed, with the small remainder donated to Intersect, Cardano’s governance body. He insists the redemption process was adapted to assist elderly Japanese investors. Meanwhile, an audit by McDermott Will & Emery and BDO is underway, promising clarity. A release date is TBA. Cardano Price Analysis – Where is ADA Heading Now? News of Hoskinson’s feud has done little to substantially affect the course of Cardano’s ADA coin. In the last 24 hours, it fell 2% down to $0.7739. Over the same period, crypto’s collective market cap fell 4.3% to $3.55 trillion. However, in the last hour, Cardano has climbed 0.3%, which could indicate a reversal. Should markets flash green by tomorrow, Cardano will be well on course to a dollar per ADA, but the coin faces some stiff resistance between $0.90 and $1.15 that could scupper its upward price action. For the minute, Cardano is trading three to four cents higher than its 30-day moving average (MA), but its relative strength index is 56 and falling, indicating some selling momentum is picking up. This is likely to converge the price of Cardano with its 30-day MA, which will consolidate the price at its current level ahead of a potential new rally. While Cardano Feud Fails to Impact ADA Price, Investors Turn to Best Wallet for Safety and Returns Hoskinson’s feud has done little to impact the price of Cardano, which indicates ADA is one fairly robust altcoin. Another promising altcoin that has been attracting portfolio diversifiers is Best Wallet . Amid growing concern, attention is shifting to a rising contender in the crypto wallet space—Best Wallet, a secure and user-focused platform rapidly gaining traction in presale circles. The $BEST native utility token , is at the center of an increasingly popular ICO that’s quietly attracting millions in early funding. Over $12M Raised and Counting! Best Wallet is becoming the go-to for traders who want speed, simplicity, and early access to what matters: Buy new tokens early, directly in-app Buy and swap across chains in one place Full portfolio control, no clutter Download… pic.twitter.com/RDGvIhPLRo — Best Wallet (@BestWalletHQ) May 6, 2025 What sets Best Wallet apart is its “Upcoming Tokens” feature, which highlights top-tier crypto opportunities—often before public listing—giving users a significant edge in spotting early investment plays. The wallet also simplifies yield generation by aggregating high-reward staking options, helping users maximize passive income from their holdings. Available on both Google Play and the Apple App Store , Best Wallet app supports over 1,000 digital assets and uses Fireblocks’ MPC-CMP encryption to ensure robust asset protection. With $12.1 million already committed to the $BEST token presale, the project is emerging as a strong alternative for those wary of Ethereum’s potential vulnerabilities. Follow Best Wallet on X and Telegram . The post Cardano Price Prediction: $600M Controversy Erupts — Will ADA Buckle or Bounce? appeared first on Cryptonews .

23 May 2025, 02:15

Qubetics Priced at $0.2785, Polkadot Faces DAO Heat, and Tezos Backs Uranium.io — Best Cryptos to Hold

A wave of renewed interest is sweeping through the cryptocurrency market as regulatory developments and technological breakthroughs reshape investment priorities. The hunt for the best cryptos to hold has intensified, especially as traditional market leaders face scalability challenges and increased scrutiny. Projects like Qubetics , offering practical solutions and real-world applicability, are capturing attention and shifting the focus toward innovation grounded in tangible use cases. Across the spectrum, blockchain platforms that can demonstrate sustainable use cases and robust governance are rising in prominence. This trend is steering attention to tokens that promise not just speculative gains but long-term value and adoption. Market participants are actively seeking the best cryptos to hold that combine strong fundamentals with the ability to navigate the complex regulatory landscape of 2025. Within this evolving landscape, certain projects are distinguishing themselves by addressing key industry pain points such as asset tokenization, transaction speed, and on-chain governance. The growing demand for the best cryptos to hold reflects a market that favors utility-driven tokens capable of fostering widespread adoption and solving practical problems in decentralized finance and digital asset management. Qubetics ($TICS): Real World Use Cases Make It One of the Best Cryptos to Hold A growing disconnect between real-world needs and blockchain solutions has paved the way for Qubetics. Unlike speculative coins promising decentralized everything, Qubetics has prioritized one thing: making asset tokenization practical for everyday financial systems. It delivers value for professionals, businesses, and even local governments by enabling secure, compliant cross-border transactions through its Real World Asset Tokenization Marketplace. Currently, in its 35th crypto presale stage, Qubetics has raised over $17.2 million, with more than 513 million tokens sold to 26,800+ holders. At $0.2785 per token, early access offers a low barrier for adoption. Industry analysts project a 258% ROI if $TICS reaches $1 post-crypto presale, 1694% ROI at $5, and 5284% ROI if it hits $15 after the mainnet launch—backed not by hype, but by actual platform utility. Why Qubetics’ Tokenization Marketplace Matters For decades, financial institutions have struggled to tokenize physical and intangible assets securely. Qubetics introduces a scalable solution where ownership, documentation, and liquidity can be managed on-chain with real-world compliance. The use case is clear, and so is the adoption potential. Key Benefits of the Real World Asset Tokenization Marketplace: Enables tokenization of real estate, commodities, digital rights, and intellectual property Supports KYC/AML features for regulatory compatibility across borders Offers multi-chain wallet infrastructure for asset storage and management Reduces time-to-market for asset-backed projects Seamless integrations for banks, governments, and enterprise platforms With real tools that solve real problems, Qubetics is far more than a presale buzzword. It’s one of the best cryptos to hold for those tracking utility-backed momentum in 2025. Arthur Breitman Bets on Tokenized Uranium — Could This Be Tezos’ Big Comeback? Tezos co-founder Arthur Breitman is steering the blockchain’s future toward real-world assets with a bold new move into tokenized uranium via uranium.io, aiming to capitalize on shifting attitudes toward nuclear energy, government energy security drives, and AI’s growing demand. Once heralded as an “Ethereum killer,” Tezos has evolved from its early ambitions to become a blockchain focused on adaptability, decentralization, and “doing things for real.” After weathering crypto’s turbulent years and moving beyond NFTs and DeFi hype, Breitman’s uranium tokenization venture could re-establish Tezos as a serious player in the crypto space, blending transparency and innovation to unlock a traditionally opaque commodity market. As Tezos prepares for massive scalability with its upcoming Tezos X rollup, this pivot toward RWAs might just mark its next major chapter. Polkadot DAO Introduces Future Payout Mechanism as $3.5M Liabilities Stir Caution Among DOT Traders Polkadot’s DAO governance model has unveiled a future payout system that allows proposers to request funding based on deliverables, tightening financial control and transparency but revealing $3.5 million in outstanding liabilities—an update that’s shifting sentiment across the crypto space. The move, reported by @PolkadotInsider, aims to curb unchecked spending and strengthen treasury oversight, potentially bolstering long-term confidence in DOT. However, the disclosed liabilities have sparked mixed reactions among traders, especially amid broader market volatility, including a 1.2% NASDAQ dip. Despite this, DOT continues to show resilience, trading near $5.25 with a 24-hour volume of $180 million across exchanges like Binance and Kraken, suggesting that while caution is rising, faith in Polkadot’s fundamentals—and its forward-thinking governance—is still holding strong. Understanding Real World Asset Tokenization Asset tokenization is transforming global finance by converting ownership rights of physical and digital assets into blockchain-based tokens. This opens up liquidity, transparency, and 24/7 access for assets that were previously illiquid or hard to transfer. How Qubetics Enables Real World Asset Tokenization: Users can tokenize property, vehicles, patents, and more directly on-chain All assets are legally verified and linked to the blockchain for tamper-proof ownership Tokenized assets can be traded, sold, or collateralized without third-party interference Offers a bridge between traditional finance and blockchain infrastructure Enhances liquidity, especially for private equity and real estate sectors Qubetics isn’t speculating on use cases—it’s actively building them. That’s what makes it one of the best cryptos to hold today. Conclusion: The Shift Toward Function-First Blockchain Projects The landscape of digital assets is steadily evolving toward projects with clear, practical applications and strong technical foundations. Qubetics, Polkadot, and Tezos exemplify this shift, each offering unique solutions that address critical challenges in blockchain adoption, scalability, and governance. Their growing adoption and continued development underscore why they are among the best cryptos to hold for long-term viability. As market dynamics favor tokens with tangible use cases over speculative hype, identifying the best cryptos to hold becomes crucial for those seeking sustainable growth in the crypto sector. These projects demonstrate the potential to withstand regulatory pressures and technological shifts while delivering real value to users and enterprises alike. Ultimately, positioning portfolios around the best cryptos to hold means embracing innovation that goes beyond price speculation—favoring coins that build the infrastructure and ecosystems necessary for blockchain’s next phase of mainstream integration. For More Information: Qubetics: https://qubetics.com Presale: https://buy.qubetics.com Telegram: https://t.me/qubetics Twitter: https://x.com/qubetics Frequently Asked Questions What makes Qubetics stand out in the current crypto market? Its real-world asset tokenization features and 35th-stage crypto presale success make Qubetics a practical and scalable crypto project. How has Tezos maintained its relevance? Through 13+ protocol upgrades, community governance, and successful adoption in the DeFi and NFT sectors. What is the current price of $TICS in the Qubetics presale? $0.2785 per token in the ongoing 35th crypto presale stage. What use cases does the Real World Asset Tokenization Marketplace address? It enables cross-border ownership, digital documentation, asset liquidity, and regulatory compliance on-chain. The post Qubetics Priced at $0.2785, Polkadot Faces DAO Heat, and Tezos Backs Uranium.io — Best Cryptos to Hold appeared first on TheCoinrise.com .

21 May 2025, 17:09

Ethereum Shows No Spike in Network Engagement Despite Successful Pectra Upgrade

It’s been exactly two weeks since Ethereum successfully completed its Pectra upgrade, but the network has yet to feel the impact of the hard fork on user engagement. According to an analysis by crypto data and insights platform Glassnode, Ethereum has not registered any new or returning users so far. In fact, user engagement has plunged since developers deployed the upgrade. What Did the Pectra Upgrade Do? Pectra introduced 11 Ethereum Improvement Proposals (EIPs) geared towards improving user experience and creating a future-proof network. The upgrade brought the execution and consensus layers together after incorporating a range of technical improvements. Following the success of Petra, traditional crypto wallets, also known as externally owned accounts, now behave like smart contracts, enabling account abstraction. Validators can stake more than 32 ether (ETH) and up to 2,048 ETH, while there is enhanced compatibility between layer-1 and layer-2 chains. In addition, there are reduced data verification costs for layer-2 rollups, and nodes can verify large data availability without a full download. Users can also sponsor transaction costs and pay gas fees in crypto assets other than ETH. It is worth mentioning that Pectra was initially scheduled to go live on April 30. However, several technical and finality issues resulted in developers pushing the date forward to May 7. Ethereum User Engagement is Down Since Petra went live, the average number of new and resurrected addresses has fallen compared to their year-to-date (YTD) values. New Ethereum addresses have fallen 1.8%, while the resurrected ones have plummeted 8.4%. However, churned addresses have also declined by 8.5%. Churned addresses refer to wallets that previously held ETH but have reduced their balance to zero. This often happens when more users embrace private crypto storage options. Although Pectra has not brought in new or returning users so far, the plunge in churned addresses raises the question of whether this is part of a broader cycle trend, which remains to be seen. Meanwhile, Ethereum’s Realized Cap shows a reversal in a downward trend seen in the last three months. Glassnode noted that the metric, which tells the total capital stored in ETH, has risen from $240.8 billion to $244.6 billion since May 7, reflecting a $3.8 billion or 1.6% rise. The post Ethereum Shows No Spike in Network Engagement Despite Successful Pectra Upgrade appeared first on CryptoPotato .

21 May 2025, 11:30

Did Cardano Founder Steal $619 Million? Hopkinson Makes Shocking Revelation

Cardano, and specifically its founder Charles Hoskinson, has come under fire recently after allegations of fraud surfaced online. The rumors quickly spread as the integrity of the blockchain and its founder were called into question. As a result, Hopkinson has delivered a response, with a shocking revelation on how he plans to interact with the public and the community going forward. Alleged $619 Million Going Missing On May 7, 2025, an X user who goes by the name Masato Alexander made a shocking claim: 318 million ADA worth $619 million had been illegally moved and the finger was being pointed at Cardano founder Charles Hoskinson. Apparently, this had happened with the Allegra Hard Fork which took place back in 2021 as core functions of the blockchain were changed. Related Reading: Bitcoin Macro Trend Oscillator Shows When To Expect The Price Top Alexander claimed that Hoskinson had deployed code during what was thought to be routine upgrade with an extra payload. Allegedly, this allowed Hoskinson to erase the original ICO UTxOs which held a total of 318 million ADA and moved the funds to Cardano reserves that were controlled by private keys tied to Hoskinson. The transaction was done through an MIR transaction, which stands for Move Instantaneous Reward transactions. Essentially, Alexander claims that this allowed funds to be moved from reserves and then used for treasury and staking rewards purposes. These claims quickly drew the attention of the Cardano community, with Hoskinson himself responding under the post to denounce the rumors. He initially explained that the ADA vouchers of the users whose ADA were allegedly moved had become unspendable after the hard fork. Thus, they had been moved into a “custodial account controlled by the TGE that then continued redemption for 3 more years to distribute the genesis funds to the original buyers.” Furthermore, Hoskinson threatened legal action if Alexander did not stop making these claims. Cardano Founder Addresses Rumors Again After the initial interaction, Cardano founder Charles Hoskinson has once again come out to address the rumors of the missing $619 million. He first addressed the fact that people were quick to condemn him after the rumors surfaced without giving him the benefit of the doubt. This extended to friends who he says did not show up for him during this time. Related Reading: Pundit Says XRP Price Will Stabilize At $1,000 And Become ‘Very Expensive’ As for the rumors themselves, the founder explained that there will be a full audit and a report which will be published for the public to see. He further went on to reveal that the events of the past few weeks will change how he engages with the community from now. While Hoskinson does plan to continue to attend events and take pictures with people, he plans to hand over his X account to a media company. Additionally, he plans to change the format of how he holds his X Spaces and Ask Me Anything (AMAs). “Infinite accessibility just enables it to happen again and again,” the founder explained. Featured image from Dall.E, chart from TradingView.com