Live Feed

The decentralized finance (DeFi) sector remains robust despite the recent Kelp DAO hack, which resulted in approximately $292 million in losses, and a subsequent $13 billion drop in total value locked (TVL), CoinDesk reported. While these events may appear catastrophic, the outlet noted that a closer look at the data reveals a different picture. The $13 billion decline in TVL was primarily due to the liquidation of leveraged positions, not an actual loss of capital. The Kelp DAO hack was severe, leading to an $8.45 billion outflow from the lending protocol Aave alone within 48 hours and causing overall DeFi TVL to revert to year-ago levels. However, CoinDesk added that the majority of the withdrawn TVL consisted of highly leveraged positions created by repeatedly collateralizing and re-collateralizing assets. The outlet concluded that DeFi has survived more severe situations in the past, such as the collapse of Terra/LUNA.

The Litecoin (LTC) network experienced a zero-day vulnerability on April 25 that caused a bug resulting in a 13-block reorganization. According to Cointelegraph, the Litecoin team announced on its official X account that the bug has been fully patched. The team explained that the vulnerability enabled a Denial-of-Service (DoS) attack against major mining pools, with un-updated nodes incorrectly accepting certain MWEB transactions. These transactions were subsequently nullified by the block reorganization and were not included in the main chain.

Iranian Foreign Minister Abbas Araghchi said in a statement on social media after concluding a visit to Oman that the two countries held important discussions on bilateral issues and regional affairs. He stated that as the only two countries adjacent to the Strait of Hormuz, they are focused on finding ways to ensure safe passage through the waterway. Araghchi emphasized that this is in the interest of all neighboring countries and the international community, adding that issues concerning their neighbors are a shared priority.

The increasing sophistication of crypto scams, driven by advancements in artificial intelligence (AI), requires greater vigilance, CryptoSlate has warned. The outlet cited the case of a crypto project founder who was deceived by a deepfake scammer impersonating a Cardano (ADA) Foundation official, leading to his laptop being hacked. According to the founder, the hacker impersonated a foundation official with whom he had previously spoken and initiated a video call. During the call, both the voice and face of the impersonator matched the victim's memory of the actual person. However, the call quality was poor, and a message prompted the founder to update the Microsoft Teams video conferencing platform. CryptoSlate highlighted that even the tech-savvy founder found the situation plausible, and his laptop was compromised when he proceeded with the fake software update.

Crude oil futures opened more than 2% higher today due to ongoing global supply tensions, as peace talks between the U.S. and Iran have stalled. Oil shipments through the Strait of Hormuz remain limited. Amid recent price volatility, traders are assessing not only when exports from the Persian Gulf might resume but also how long it will take for regional production to return to pre-war levels. President Donald Trump stated on April 26 that Iran is facing growing domestic pressure from its inability to export oil, which he said could cause long-term damage to its energy export infrastructure. On the same day, Goldman Sachs analysts pushed back their forecast for the normalization of exports through the Strait of Hormuz from mid-May to late June. They also raised their fourth-quarter price forecast for WTI crude from $75 to $83 per barrel.

Prominent Bitcoin investor Michael Terpin projects that BTC could bottom out around $57,000 this October. In an interview with Cointelegraph, Terpin explained that it typically takes about one year for Bitcoin to establish a bottom following a cycle peak. Based on last October's high and historical average drawdowns, he anticipates the floor will be near the $57,000 mark. Terpin also noted that while reclaiming $100,000 is critical for a bullish reversal, he considers it unlikely to occur this year. Such a recovery would depend on sustained institutional buying from firms like Strategy, continued net inflows into ETFs, and the absence of major sell-offs during market dips, he added.

Iran's foreign minister has announced that measures to ensure safe passage through the Strait of Hormuz were discussed during talks in Oman.

A shooting incident occurred at the White House Correspondents' Association (WHCA) dinner on April 25, with the suspect arrested at the scene, CNN reported. During the event, a loud bang was heard, prompting U.S. President Donald Trump and other dignitaries at the head table to take cover before being evacuated. According to CNN, President Trump is safe. Note: This brief has been updated to reflect a correction from CNN, changing the status of the suspect from 'deceased' in the initial report to 'arrested'.

We provide real-time cryptocurrency updates around the clock from 10:00 p.m. UTC on Sunday through 3:00 p.m. UTC on Saturday. Outside these hours, coverage is limited to critical market-moving developments. Note: Coverage of overseas economic news on the CoinNess Live app and website will continue without interruption.

Aave Labs, Kelp DAO, LayerZero, EtherFi, and Compound have publicly proposed that Arbitrum governance unfreeze 30,765.67 ETH. The funds were frozen by the Arbitrum Security Council on April 21. According to the proposal, the assets would be managed in a 2-of-3 Gnosis Safe (SAFE) address jointly controlled by Aave Labs, Kelp DAO, and Certora. The funds are to be used exclusively for stabilizing rsETH collateral, with any unused assets ultimately returned to the Arbitrum DAO.

The U.S. Commodity Futures Trading Commission (CFTC) has filed a lawsuit against New York State to prevent it from applying its gambling laws to prediction market platforms, Cointelegraph reported. The move follows previous lawsuits by New York authorities against Coinbase (COIN) and Gemini (GEMI), which accused the exchanges' prediction market subsidiaries of violating state gambling laws. CFTC Chairman Michael Gillick argues that jurisdiction over prediction markets lies with the CFTC, a federal agency, not with state governments.

Jesse Pollak, a developer for Coinbase's Layer 1 chain Base, said that agentic payments—where AI can autonomously pay for services like data access, computing resources, and travel bookings—will become a key trend, CoinDesk reported. He highlighted the x402 protocol, an open-source payment protocol being co-developed by Coinbase, Microsoft, Google, and Mastercard that enables payments through simple API calls. Pollak added that to date, around $48 million in payments have been processed through the protocol, with approximately 95% of this volume occurring on the Base chain.

U.S. Republican Representative Anna Paulina Luna has accused former House Speaker Nancy Pelosi of insider trading, BeInCrypto reported. Luna claimed that Pelosi's portfolio has surged by approximately 17,000% since she entered Congress, alleging that Pelosi's husband has a history of trading tech stock options before relevant legislation was passed. She also criticized the current regulations, noting that while the STOCK Act exists to govern stock trading by members of Congress, the penalty for a violation is only a $200 fine. Luna contrasted this with a case where a special forces soldier faces up to 50 years in prison for profiting from prediction markets related to military operations. Anna Paulina Luna previously filed a criminal complaint against Fed Chair Jerome Powell last July.

DeFi United has raised a total of 69,642 ETH, valued at approximately $161 million, with contributions from 14 ecosystem partners and individuals, Lookonchain reported via X. The initiative was organized by crypto lending protocol Aave (AAVE) and its DeFi partners in response to the KelpDAO hack. The goal is to restore the stability of rsETH.

Independent ETF issuer Teucrium has launched a 2x long BNB futures ETF, Binance founder Changpeng Zhao (CZ) announced on X. The fund launched on April 25 under the ticker XBNB.

Jupiter, a Solana-based decentralized crypto swap aggregator, announced via X on April 24 that it added another 211,474 JUP (approximately $36,000) to its Litterbox Trust. The project is accumulating JUP by depositing 50% of its protocol revenue into the trust over the next two years. A total of 9,405,535 JUP ($1.63 million) has been added this month, bringing the cumulative amount to 113,508,785 JUP, valued at around $19.56 million.

Approximately $13 million worth of FF tokens have been unlocked and distributed to multiple addresses, on-chain analyst onchainschool.pro reported on X. The analyst added that about $1 million of these tokens have already been sent to centralized exchanges (CEX), indicating a potential sell-off.

According to Singaporean media outlet Zaobao, the Singapore Police Force, in collaboration with cryptocurrency platforms including Coinbase and South Korean exchange Upbit, has blocked approximately 2.86 million Singapore dollars ($2.11 million) in scam-related damages over a one-month period. During an intensive crackdown from March 16 to April 15, authorities utilized analytics tools from Chainalysis and TRM Labs to uncover investment fraud, impersonation of government officials, and job-related scams. Law enforcement directly intervened in more than 90 cases involving victims. Authorities described the effort as a significant step forward in anti-fraud response through public-private cooperation.

Turkish Foreign Minister Hakan Fidan stated on April 25 that Turkey would consider participating in a mine-clearing operation in the Strait of Hormuz if the U.S. and Iran reach a peace agreement. He explained that technical teams are expected to carry out the work after a deal is made and that Turkey views such an operation as a humanitarian responsibility, maintaining a positive stance in principle. However, Fidan added that Turkey would reconsider its position if the multinational technical coalition were to become a party to a new conflict. He also expressed his belief that issues related to Iran's nuclear program could be resolved at the next round of talks in Pakistan.

Iranian Parliament Speaker Mohammad Bagher Qalibaf on April 24 dismissed recent remarks by Israeli Defense Minister Katz as "nonsense." In a social media post, Qalibaf stated that the reason for the Israeli minister's anger and comments is Iran's unity around its leadership, which he claimed has completely thwarted their plots. The speaker's comments followed a video statement from Katz on April 23, in which he said Israel was prepared to resume military operations against Iran. Katz claimed Israel is awaiting U.S. approval and is ready to deliver a "destructive blow" to Iran's "most vulnerable points" to completely eliminate the regime.

The upcoming $75 billion initial public offering (IPO) for SpaceX could absorb liquidity from risk assets like Bitcoin (BTC), CoinDesk reported. When combined with potential IPOs from OpenAI and Anthropic, this effect could draw more than $240 billion from the market by the end of the year. Market observers are concerned that capital allocated for these major IPOs could erode the risk-on liquidity pool shared by tech stocks, AI, and cryptocurrencies. This situation is drawing comparisons to Coinbase's public listing in 2021, after which BTC hit a peak on the day of the listing before correcting by approximately 50% within six weeks. Some analysts noted that such institutional milestones often serve as signals for a cycle top.

BTC perp long/short ratios on top exchanges by open interest The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 50.12% long, 49.88% short - Binance: 49.96% long, 50.04% short - OKX: 49.82% long, 50.18% short - Bybit: 50.18% long, 49.82% short

According to monitoring by ai_9684xtpa, an address known as an 'ETH ICO $1 million investor whale' has transferred an additional 10,000 ETH (approximately $23.21 million) to a multisig address after about a week. The receiving address (0x26c…B9392) has deposited a total of 12,001 ETH (approximately $24.62 million) to OKX over the past two months. Based on past patterns, funds moved to this address are typically transferred in batches to various exchanges afterward.

On-chain analytics firm Arkham said on X that the wallet belonging to Avraham Eisenberg, the exploiter of DeFi protocol Mango Markets, has been detected signing a new transaction, raising speculation about his return. Eisenberg is known for an exploit of Mango Finance in 2022 valued at approximately $110 million. He was later imprisoned following a suggested attack on Aave and the liquidation of his position on Curve. In January, U.S. prosecutors appealed a not-guilty verdict against Eisenberg.

Nasdaq-listed mining company Bitdeer has once again sold its entire weekly production of Bitcoin. The company announced that it mined 185.7 BTC this week and sold the full amount. With production and sales matching, there was no net increase in its holdings. Bitdeer has been pursuing a strategy of holding zero BTC since February.