9 Jul 2025, 21:30

GMX Exploit: The Shocking $42 Million Crypto Heist and Ethereum Bridge Fallout

The decentralized finance (DeFi) landscape, while promising innovation and financial freedom, often grapples with the persistent threat of security breaches. One such incident that recently sent ripples through the community involves GMX, a prominent derivatives trading protocol. A significant GMX exploit has come to light, with an estimated $42 million in crypto assets compromised. What’s even more concerning is the subsequent movement of approximately $9.6 million of these stolen funds to the Ethereum blockchain, raising critical questions about asset traceability and the broader implications for DeFi security . The Anatomy of the GMX Exploit : Unpacking the Incident The news of the GMX breach, initially reported by blockchain security firm PeckShield, quickly became a focal point for crypto enthusiasts and investors. GMX, known for its decentralized perpetual and spot trading, found itself at the center of a high-stakes digital heist. While the exact technical vectors of the exploit were not immediately detailed in public reports, such incidents typically stem from vulnerabilities in smart contracts, oracle manipulation, or flash loan attacks. Here’s a quick breakdown of the reported facts: Protocol Affected: GMX, a leading decentralized derivatives trading platform. Estimated Loss: Approximately $42 million in various crypto assets. Funds Moved: Around $9.6 million of the stolen assets were bridged to the Ethereum network. Source of Information: Blockchain security and analytics firm, PeckShield. Protocol’s Response: GMX has reportedly offered a 10 percent white-hat bounty to the attacker, a common strategy in the crypto space to incentivize the return of funds and prevent further damage. This event serves as a stark reminder that even well-established and audited protocols are not immune to sophisticated attacks. The rapid identification and tracking of funds by firms like PeckShield highlight the evolving nature of blockchain forensics, but the core challenge of preventing such breaches remains paramount. Tracking the Funds: The Ethereum Bridge Connection One of the most critical aspects of this incident is the attacker’s decision to move a significant portion of the stolen funds – specifically $9.6 million – across an Ethereum bridge . This action is a common tactic employed by hackers for several reasons, primarily to obfuscate their tracks and potentially convert assets into less traceable forms or to cash out. What does it mean to ‘bridge’ funds in crypto? Bridging refers to the process of transferring crypto assets from one blockchain network to another. For example, moving tokens from the Arbitrum network (where GMX primarily operates) to the Ethereum mainnet. This process typically involves locking assets on the source chain and minting an equivalent amount of wrapped tokens on the destination chain, or vice versa. Attackers often use bridges to: Diversify Assets: Spreading funds across multiple chains can make it harder for a single entity to freeze or seize them. Access Different Liquidity Pools: Ethereum, being the largest DeFi ecosystem, offers vast liquidity for various tokens, making it easier to swap stolen assets for stablecoins or other cryptocurrencies. Attempt Anonymity: While blockchain transactions are public, bridging can add a layer of complexity to tracing the ultimate destination of funds, especially if combined with mixers or multiple wallet hops. The fact that PeckShield was able to identify and report this movement so quickly underscores the transparency inherent in public blockchains, even as attackers try to exploit the system. This ongoing cat-and-mouse game between hackers and blockchain analytics firms is a defining characteristic of the current crypto security landscape. Understanding the Broader Impact on Crypto Hack Incidents The GMX incident is not an isolated event; it’s part of a larger, worrying trend of crypto hack incidents plaguing the digital asset space. From centralized exchanges to decentralized protocols, billions of dollars have been lost to exploits, phishing scams, and rug pulls over the years. Each major hack erodes trust, not just in the specific protocol affected, but in the entire ecosystem. The implications of such breaches are far-reaching: Investor Confidence: Repeated hacks can deter new users and institutional investors from entering the DeFi space, perceiving it as too risky. Regulatory Scrutiny: Governments and financial regulators often point to these incidents as reasons for stricter oversight, potentially stifling innovation. Protocol Reputation: A hack can severely damage a protocol’s reputation, leading to a decline in user base, trading volume, and token price. Security Costs: Protocols are forced to invest heavily in security audits, bug bounties, and monitoring tools, adding to operational overhead. The GMX exploit serves as a fresh case study, highlighting the need for continuous vigilance and proactive security measures across the entire blockchain industry. The offering of a white-hat bounty, while a pragmatic move, also signals the difficult position protocols find themselves in when faced with an exploit. Strengthening DeFi Security : Lessons from the GMX Case The GMX exploit, like many before it, provides invaluable lessons for strengthening overall DeFi security . It’s a continuous learning process, where every breach offers insights into new attack vectors and weaknesses. For both protocols and users, adopting a robust security posture is no longer optional; it’s essential for survival and growth. Key takeaways for enhancing DeFi security include: Rigorous Smart Contract Audits: Before deployment and after any significant code changes, smart contracts must undergo multiple, independent audits by reputable security firms. Robust Bug Bounty Programs: Actively incentivizing ethical hackers to find and report vulnerabilities before malicious actors do can prevent catastrophic losses. Real-Time Monitoring and Incident Response: Protocols need 24/7 monitoring systems to detect suspicious activities and a rapid response plan to mitigate damage if an exploit occurs. Decentralized Oracle Solutions: Reliance on single or centralized data feeds can be a major vulnerability. Utilizing decentralized oracle networks can enhance data integrity. User Education: Empowering users with knowledge about common scams, wallet security, and permission management is crucial. For users, understanding the risks involved in DeFi and practicing due diligence, such as only interacting with audited protocols and revoking unnecessary token approvals, can significantly reduce exposure to risks. The Role of Blockchain Forensics in Recovery and Prevention In the wake of a crypto hack , the role of blockchain forensics becomes paramount. Firms like PeckShield, Chainalysis, and others specialize in tracing the flow of illicit funds across various blockchain networks. Their work is vital for several reasons: Fund Tracing: By analyzing transaction patterns, they can track stolen assets, even if they are moved through mixers, decentralized exchanges, or bridges. Attacker Identification: While direct identification of individuals is challenging, forensic analysis can link multiple addresses, identify patterns of behavior, and sometimes even connect to real-world entities. Law Enforcement Collaboration: Forensic firms often work with law enforcement agencies and centralized exchanges to freeze funds or aid in investigations. Post-Mortem Analysis: Understanding how an exploit occurred helps protocols patch vulnerabilities and prevent future attacks. The public nature of blockchain transactions is a double-edged sword. While it allows for transparency and traceability, it also means attackers’ moves are visible. The ongoing challenge for forensic experts is to keep pace with increasingly sophisticated evasion techniques employed by hackers. A Continuous Battle for Security in DeFi The GMX exploit, with its significant financial impact and the subsequent movement of funds to Ethereum, underscores the persistent and evolving security challenges within the DeFi space. While the industry continues to innovate at a rapid pace, the need for robust security measures, proactive threat intelligence, and effective incident response mechanisms has never been more critical. The proposed white-hat bounty by GMX is a testament to the community’s desire to recover funds and learn from these painful experiences. As the ecosystem matures, collective efforts from developers, security experts, and users will be essential to build a truly secure and resilient decentralized future. To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum price action.

7 Jul 2025, 21:56

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

ChatGPT’s AI model processed 42 live indicators, revealing a bearish analysis as Toncoin plunged 2.36% to $2.771 following the UAE government’s denial of golden visa claims, which exposed the TON Foundation’s credibility crisis. TON is currently trading below all major EMAs, with volume declining by 48.25% to $332.73 million as scandal fallout accelerates institutional exit. Strong selling pressure emerges as the price falls below the 20-day EMA ( $2.866 ), 50-day EMA ( $2.981 ), 100-day EMA ( $3.179 ), and 200-day EMA ( $3.701 ), with misleading marketing claims triggering regulatory scrutiny. Market cap collapses to $6.84 billion, down 4.67% , with critical support at the $2.70-$2.75 zone determining survival prospects. Source: Cryptonews The following analysis synthesizes ChatGPT’s 42 real-time technical indicators, developments related to the golden visa scandal, regulatory implications, and credibility damage to assess TON’s 90-day trajectory amid a leadership accountability crisis and ecosystem reputation destruction. Technical Collapse: Bearish Structure Accelerates Amid Scandal Toncoin’s current price of $2.771 reflects a concerning 2.36% daily decline from its opening price of $2.838, establishing a troubling trading range between $2.856 (high) and $2.751 (low). This $0.105 intraday spread demonstrates accelerating volatility as scandal fallout intensifies institutional selling pressure. Source: TradingView RSI at 42.02 approaches oversold territory without reaching extreme levels, indicating balanced momentum despite significant fundamental damage. This positioning suggests TON remains vulnerable to further declines as the credibility crisis deepens and regulatory scrutiny increases. MACD indicators display concerning signals with the MACD line at 0.001 trading near zero, suggesting rapidly deteriorating momentum. The negative histogram at -0.067 indicates significant bearish acceleration requiring careful monitoring for complete breakdown scenarios. Source: TradingView Golden Visa Scandal: Foundation Credibility Implodes The TON Foundation’s false claims about UAE golden visas for TON stakers represent a catastrophic credibility failure that exposed fundamental governance problems. CEO Max Crown’s announcement that staking TON would secure UAE golden visas triggered immediate government denial and regulatory investigation. UAE authorities publicly rejected the claims, clarifying that TON lacks proper licensing and visa programs require traditional investments, not cryptocurrency speculation. Community leaders, including Hipo Finance, condemned the misleading communication as “unacceptable” and called for accountability in leadership. Recently, @crownmax , CEO of the TON Foundation, claimed that individuals can receive a 10-year UAE Golden Visa by staking TON. Shortly after, official UAE authorities publicly denied this claim, and the @toncommunityhq clarified on its blog that the initiative is a… — Hipo (@hipofinance) July 7, 2025 The scandal reveals either incompetent due diligence or deliberate market manipulation, both of which permanently undermine TON’s institutional credibility. VARA, ADGM, and SCA regulatory bodies have confirmed that staking constitutes a regulated activity that requires proper licensing, which the TON Foundation lacks. TON Foundation says its digital residency initiative is not backed by the UAE government. #TON #UAE https://t.co/AWuZBEZaiK — Cryptonews.com (@cryptonews) July 7, 2025 This regulatory clarity exposes TON to potential enforcement actions and operational restrictions in key Middle Eastern markets. Although the TON foundation has clarified that the digital residency initiative is an independent project with no official backing from the UAE government. Historical Context: Dramatic Decline from January Highs TON’s 2025 performance has demonstrated catastrophic deterioration following January’s strong close at $4.83 . The subsequent correction to February’s $3.33 , brief March recovery to $4.11 , and continued decline through June’s $2.91 establish concerning downtrend patterns. Current price action represents a 43% decline from January highs, though maintaining 609% gains from 2021 lows provides a long-term perspective. The golden visa scandal exacerbates existing technical weaknesses that have been established through months of institutional pressure. Support & Resistance: Critical Levels Define Survival Prospects Immediate support emerges at today’s low around $2.751 , reinforced by the critical support zone at $2.700-$2.750 . This confluence represents the most significant technical level for determining TON’s ability to recover from a credibility crisis and prevent a complete breakdown. Major support zones extend to $2.600-$2.650, representing historical accumulation levels, followed by strong support at $2.400-$2.500 corresponding to previous cycle lows. Source: TradingView These levels provide a potential foundation during extended correction scenarios if institutional confidence stabilizes. Resistance begins immediately at the 20-day EMA at $2.866 , representing a formidable hurdle for any recovery attempts. The more significant resistance cluster lies between the 50-day EMA ( $2.981 ) and the 100-day EMA ( $3.179 ), creating a challenging overhead supply that reflects fundamental damage. Market Metrics: Volume Decline Confirms Institutional Exit TON maintains a $6.84 billion market capitalization with a declining 24-hour trading volume of $330.81 million , representing a significant 49.2% decline. The volume-to-market cap ratio of 4.85% indicates institutional withdrawal during a credibility crisis rather than an accumulation opportunity. Source: CoinMarketCap The dramatic volume decline from previous levels confirms institutional positioning shifts away from TON during the scandal fallout, validating technical analysis that suggests continued weakness. Current pricing represents a 66% discount to all-time highs achieved in 2024 ; however, a comparison to recent highs shows a 43% decline from January 2025 peaks. Social Sentiment: Community Backlash Amplifies Credibility Crisis Community sentiment reveals a deep division among ecosystem participants, with some publicly condemning the TON Foundation’s misleading marketing practices. Hipo Finance’s scathing criticism, calling the golden visa claims “unacceptable,” demonstrates internal community fractures that extend beyond typical price volatility concerns. NO, UAE is NOT OFFERING GOLDEN VISAS TO TON STAKERS! Authorities clarify this because, They want traditional investments for golden visas, not crypto speculation. This makes sense but what about TON? I was going to stake $TON and get that visa. @ton_blockchain makes fools… pic.twitter.com/2S2yDItUFA — Henry (@LordOfAlts) July 7, 2025 Social media analysis reveals approximately 60% negative sentiment, focusing on governance accountability rather than technical analysis, representing a fundamental shift from typical cryptocurrency discourse. The scandal has unified usually competing community voices in demanding leadership transparency and responsibility. $TON just pulled the wildest marketing campaign in crypto this year Yesterday, they dropped a bomb on their site: Stake TON for 3 years and get a golden UAE visa. Everyone went crazy. Even my friends started staking lol Price moved, and attention certainly was there But… pic.twitter.com/iJvICtFIbm — Vlad (@vladsvitanko) July 7, 2025 Developer confidence erosion becomes apparent through reduced ecosystem engagement and partnership announcements, as the scandal creates uncertainty about the TON Foundation’s strategic direction and regulatory compliance capabilities moving forward. 90-Day TON Price Forecast Leadership Accountability Rally (Bull Case – 25% Probability) Successful leadership changes and transparent governance reforms could drive recovery toward $3.20-$3.50 , representing 15-26% upside. Source: TradingView This scenario requires immediate CEO accountability, regulatory compliance improvements, and restoration of community confidence through demonstrable governance changes. Technical targets include $2.98 , $3.18 , and $3.50 based on EMA reclaim patterns and historical resistance levels. The ecosystem’s technical capabilities could attract renewed institutional interest if governance issues are resolved comprehensively. Extended Credibility Crisis (Base Case – 55% Probability) Continued leadership denial and regulatory scrutiny could drive TON toward $2.40-$2.60 , representing 6-13% downside. This scenario assumes ongoing governance problems and failure to address fundamental credibility issues during summer consolidation periods. Source: TradingView Support at $2.70-$2.75 would likely fail during an extended crisis, with volume remaining subdued at around 200-300 million daily. This sideways-to-downward action reflects permanent reputational damage requiring extended recovery periods. Complete Foundation Collapse (Bear Case – 20% Probability) Severe regulatory action or complete leadership failure could trigger a correction toward $2.00-$2.30 , representing a 17-28% downside. This scenario would require additional regulatory enforcement or continued governance failures beyond the current scandal. Source: TradingView The strong technical foundation and ecosystem utility limit extreme downside scenarios, with major support at $2.40-$2.50 providing critical long-term trend support for potential future recovery under new leadership. TON Forecast: Governance Crisis Meets Technical Breakdown TON’s current positioning reflects the convergence of governance failure, regulatory scrutiny, and accelerating technical breakdown. The 42-signal analysis reveals cryptocurrency positioned at a critical juncture between accountability recovery and complete credibility collapse. The golden visa scandal exposes fundamental governance problems that require immediate improvements in leadership accountability and transparency, while technical breakdowns below all EMAs confirm erosion of institutional confidence. The volume decline validates the withdrawal of professional investors during a credibility crisis. Current consolidation around $2.77 with critical support at $2.70-$2.75 creates a decision point for TON’s survival prospects. The post ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal appeared first on Cryptonews .

28 Jun 2025, 03:00

BlockDAG’s $0.0030 Expires in 12 Hours: Price Rises to $0.0080 Next! HYPE Rises in Volume and UNI Charts Future Growth

Uniswap (UNI) and Hyperliquid (HYPE) are making waves again. UNI’s recent price dip has opened a debate among traders; some are calling for a continued drop, while others see it as a launchpad for a longer rally. At the same time, the tone around HYPE has shifted as strong buying activity and chart signals show growing bullish sentiment. If you’re searching for crypto coins to buy now, don’t just look at short-lived trends. Focus on platforms with strong tech, real liquidity, and solid expansion plans. BlockDAG (BDAG) fits that model. It has already raised more than $323 million and is preparing for a major sponsorship reveal. In a market filled with speculation, BlockDAG brings clarity, traction, and consistent delivery. BlockDAG $0.0030 Entry Closes Soon: Why Get In Before the Next Surge? BlockDAG has now entered Batch 29, with the coin priced at $0.0276, marking a 2,660% gain since Batch 1. But what’s pulling attention is the current frozen price at $0.0030, available for 12 hours. Once expired, BDAG’s value will rise to $0.0080. This jump isn’t based on guesswork; it’s scheduled, giving buyers a massive upside window. For those looking at crypto coins to buy now, this countdown adds a sense of urgency. More than 23.3 billion BDAG coins have already been claimed. Each batch closure pushes prices up and tightens the available supply. This isn’t a waiting game; it’s a timed roadmap. As prices rise with each batch, getting in early becomes more difficult. That’s why the $0.0030 phase continues getting serious attention. BlockDAG’s next milestone is coming June 30, a U.S. sponsorship deal that could reset expectations across the market. Set to be one of the biggest ever seen in crypto, the reveal will land just as the final phase of the presale kicks in. Media attention, broader awareness, and price speculation are expected to follow. If you’re holding BlockDAG already, you’re positioned well for the next price hike. And if not, now may be the last easy entry point before the real rally begins. The system is clear: locked pricing, vanishing supply, and major events on the horizon. Uniswap: Staying Relevant Through Tech and Growth Uniswap (UNI) remains a key name in the decentralized finance space. Lately, the focus has been on UNI’s potential for long-term price gains. Even with recent price shifts, UNI keeps drawing interest from seasoned holders. Experts are tracking its governance changes and increased trading activity as signs of stable progress. The conversation around clearer DeFi regulation also keeps UNI in the spotlight. Looking ahead, UNI may benefit as Ethereum upgrades and DeFi gets more attention from big institutions. Its governance model and fee-sharing tools give it staying power as new projects enter the space. That makes it a serious option for those building strong DeFi portfolios. As platform liquidity grows, UNI could gain even more appeal. For anyone looking into crypto coins to buy now, UNI remains a solid option backed by both usage and updates. Hyperliquid: Volume Spikes and User Growth in Focus Recent market analysis around Hyperliquid (HYPE) highlights how it’s standing out in the altcoin scene. Trading volume is rising, and liquidity pools are showing signs of strength. Analysts are watching closely as charts signal upward moves. There’s also rising interest in the community as users point to new feature launches and ecosystem partnerships. If you’re looking at fast-moving coins, HYPE could be one to track. Wallet activity and new user addresses are rising, driving short-term optimism. Analysts say this kind of growth is worth noting. Combined with planned platform upgrades, the market now sees HYPE as one of the top-performing smaller coins in the spotlight. For those scanning crypto coins to buy now, HYPE is gaining serious momentum across both charts and social metrics. In Summary Uniswap (UNI) continues to prove itself through upgrades and long-term positioning. Analysts believe its recent shifts point to sustainable growth, helped by future Ethereum updates. Hyperliquid (HYPE) is climbing thanks to strong volume, a growing user base, and incoming features that are turning heads. But it’s BlockDAG that’s moving with the most clarity. Its $0.0030 entry price is frozen for 12 hours only, after which it will rise to $0.0080. Plus, the project’s massive sponsorship deal announcement on June 30 promises an even bigger spotlight. If you’re exploring crypto coins to buy now, this may be your best-timed option. With supply falling, visibility growing, and $323M already raised in presale, BlockDAG is set to deliver one of the biggest upsides this year! Presale: https://purchase.blockdag.network Website: https://blockdag.network Telegram: https://t.me/blockDAGnetworkOfficial Discord: https://discord.gg/Q7BxghMVyu The post BlockDAG’s $0.0030 Expires in 12 Hours: Price Rises to $0.0080 Next! HYPE Rises in Volume and UNI Charts Future Growth appeared first on TheCoinrise.com .

25 Jun 2025, 16:00

Solana Price Prediction: SOL Could Reclaim $200, But This DeFi Token is Stealing the Spotlight

Solana (SOL) is once again testing the mettle of investors trading near the $145 mark after a rollercoaster June. While SOL remains one of the market cap leaders attention is rapidly shifting to a new high-growth DeFi coin Mutuum Finance (MUTM) . The token sits at stage 5 of presale for $0.03. Having already smashed through more than $11.1 million presale and indicating more than 12,400 investors, Mutuum Finance is starting ripples. Solana Holds Strong Support Solana (SOL) fluctuates near levels of $135 in the current times, regaining its anchor around the $132-$142 range after blasting off a recent drop. Onchain data shows that there is a lot of buy pressure amassing at levels of $145-147 offering a solid bottom to the bounce. The technical signals today also point to a big resistance zone of between $152-$155; a breakout above this level on increasing volumes can drive the price to the much-hyped price of $200 late in the summer. However, if SOL won’t be able to break above $152, a minor correction to the price level of $130-$132 will ostensibly take place. Traders have started focusing on smaller altcoins such as Mutuum Finance (MUTM) in the hopes of altcoins breaking out of larger-cap token consolidation. Mutuum Finance Presale Hits $11.1 Million Mutuum Finance is soon going to be one of the shiniest DeFi participants with its presale crossing more than $11.1 million and bringing on board more than 12,400 investors. Frenzy for the project is in high gear and that’s a very solid indication of the project’s future. Since it is currently in phase 5 MUTM tokens are currently $0.03. Phase 6 will bring the price to $0.035. Demand is growing exponentially and Mutuum Finance’s first-mover status in the decentralized lending arena is even more precious. $100,000 MUTM Giveaway Mutuum Finance is a new protocol that is attempting to reward the early supporters it has on its platform and has established a $100,000 giveaway where 10 participants will be chosen and rewarded with 10,000 MUTM tokens. It will be a reward to the quickly expanding community inside the project and gratitude for early investors. But time’s running out. Don’t miss the opportunity to be one of the winners and, in the process securing a position as one of the most discussed new DeFi projects. Built on Trust and Transparency The majority of DeFi protocols fail because they are not turning their words into acts but Mutuum Finance is finding it hard to fail by demonstrating real credibility and infrastructure. Solana’s resilience in reclaiming the $200 mark in July remains the focus of attention among market watchers, yet sentiment among investors is clearly shifting in Mutuum Finance (MUTM)’s direction. With over $11.1 million raised in funds and an expanding base of over 12,400 investors, Mutuum is quickly becoming one of the most hyped DeFi projects for 2025. The presale present price of $0.03 gives entry for a short window before increasing to $0.035 in the subsequent phase. Supported by a completed CertiK audit and a $100,000 giveaway as an incentive to early adopters, Mutuum Finance is founded upon transparency, innovation, and potential for upside. Act immediately to be part of the presale and claim your stake in this next-generation DeFi investment opportunity before prices rise any higher. For more information about Mutuum Finance (MUTM) visit the links below: Website: https://mutuum.com/ Linktree: https://linktr.ee/mutuumfinance

24 Jun 2025, 08:41

Gala’s Node Staking Drives $2.8B in $GALA On-Chain

BitcoinWorld Gala’s Node Staking Drives $2.8B in $GALA On-Chain Gala has taken a major step toward modifying its ecosystem with the official launch of its phased Node Staking Program. The upgrade advances Gala’s multi-year decentralization roadmap, putting staked Founder Nodes at the heart of GalaChain’s future. Since its rollout on June 16, more than 2.8 billion $GALA has been bridged from Ethereum to GalaChain, marking it as one of the largest on-chain migrations in the project’s history. A New Model for Node Rewards The new system connects daily Founder Node rewards to on-chain $GALA holdings, replacing the previous model that rewarded based on daily node points and uptime. To receive full daily rewards, node operators must now hold up to 1 million $GALA per node on GalaChain either in their wallet or within the allowance mechanism. Operators with lower holdings will still earn rewards, but on a proportional basis. This is part of the four-phase rollout , charted out to align node activity with the growth and utility of GalaChain: Phase 1 : Rewards scale based on $GALA holdings that is currently live. Phase 2 : Introduction of $GSTAKE, which will be the new native token minted via eligible NFT conversions, usable for staking, and expected to roll out in late June. Phase 3 : Expected to come out in the third quarter this year, this will mark the transition from holding to locking $GALA or $GSTAKE to earn rewards. Phase 4 : $GSTAKE lending functionality, allowing holders to delegate tokens to other node operators in exchange for a share of their rewards, is expected to come out in the third quarter as well. The introduction of $GSTAKE intends to add both utility and complexity. While it creates flexibility, especially for NFT holders, it also brings additional mechanics such as conversion rules, minting conditions, and third-party trade support. The bridging of 2.8 billion $GALA suggests that a significant portion of the community is willing to meet the new requirements and that there’s enough trust in GalaChain’s stability to move capital off Ethereum. To support this transition, Gala has launched a Node Staking Dashboard via GalaConnect, giving operators a real-time view of their holdings, reward eligibility, and available staking options. The dashboard is part of a broader roadmap that includes expanded Web3 tooling, increased token utility, and further integrations across Gala’s entertainment verticals, all built on GalaChain. Looking Ahead Gala is presenting this rollout as part of its transition toward a more sustainable, utility-driven ecosystem. Each upcoming phase advances Gala’s decentralization roadmap, moving from simple holding to locked staking and delegated lending and ultimately positioning Founders Nodes as the chain’s economic backbone. With additional phases set to go live in the coming months, including token locking and lending mechanics, the system is still evolving. What’s clear now is that Gala is prioritizing alignment over reach. Rather than trying to keep all node operators equally engaged, the project is rewarding those who are willing to stake long-term interest in the chain itself. This post Gala’s Node Staking Drives $2.8B in $GALA On-Chain first appeared on BitcoinWorld and is written by Keshav Aggarwal

23 Jun 2025, 12:12

SLF price jumps 17% as Self Chain ousts CEO amid $50M fraud allegations

Cryptocurrencies traded in red on Monday as rising geopolitical tensions dumped Bitcoin below $100K during the weekend. While most altcoins display weakness after testing crucial support zones, Self Chain dominates trends with a bold leadership update, which has seen its native token, SLF, gain 17% on its daily price chart. Self Chain has terminated CEO Ravindra Kumar following crucial claims about his involvement in an unauthorized $50 million OTC (over-the-counter) crypto fraud. Ravindra Kumar’s role as CEO has been formally terminated. He will no longer hold any position, responsibility, or association with Self Chain in any capacity going forward. Self Chain @selfchainxyz · Follow Self Chain Governance UpdateDue to recent developments that diverge from the founding vision of Self Chain, we are initiating a decisive leadership transition that reinforces our long-term vision.This marks an important step in realigning Self Chain with its core principles 11:34 am · 23 Jun 2025 61 Reply Copy link Read 31 replies Self Chain’s governance change comes at a time when the community and projects join forces to fight the rising crypto scams. Optimism propelled SLF’s price to the upside even as bears dominated the crypto space after the weekend’s flash dip. Self Chain expels CEO Ravindra According to Self Chain’s X post, Ravindra Kumar will no longer have any official role within the firm. The team emphasized that actions that contradicted the project’s founding goals, especially connected to illegal OTC deals, prompted the CEO’s removal. Due to recent developments that diverge from the founding vision of Self Chain, we are initiating a decisive leadership transition that reinforces our long-term vision. This marks an important step in realigning Self Chain with its core principles of decentralization, transparency, and community-driven development. Meanwhile, Kumar’s fraud allegations attracted community backlash and risked Self Chain’s reputation as a community-driven, transparent LQ blockchain. The CEO’s termination likely reflects the platform’s commitment to safeguarding its status and refocusing on its core values. The team reaffirmed its dedication to Self Chain’s vision. They assured that no other team member participated in the alleged misconduct and that fraudulent activities weren’t linked to the project. The project distanced itself from illegal SLF over-the-counter sales. They emphasized never authorizing any founding member to participate in OTC transactions involving the native token. That means Self Chain didn’t approve and doesn’t recognize any SLF transactions outside official channels. The termination and reassurance helped restore investor confidence, who praised Self Chain’s swift move and transparency. SLF price jumps on community optimism The native token jumped from $0.08183 on its daily chart to a $0.09614 intraday high. That translated to a 17.49% jump, an eye-catching price move as bears dominate the digital assets space. SLF trades at $0.08701 after correcting from its daily high. The 86% uptick in 24-hour trading volume underscored revived investor and trader interest in the altcoin. Chart by CoinMarketCap SLF’s latest price surge demonstrates how crypto communities value transparency. Self Chain braces for a new chapter with a priority on integrity and decentralization. The post SLF price jumps 17% as Self Chain ousts CEO amid $50M fraud allegations appeared first on Invezz