The Senate and White House reached a consensus on stablecoin yields, easing tensions between crypto firms and banks. However, unresolved issues remain, with industry leaders urging swift legislative action ahead of elections.
Gemini faces a class action lawsuit from shareholders alleging that the company misled investors about its business viability and concealed its shift to prediction markets, contributing to a significant decline in stock value.
Brazil has postponed its crypto tax consultation to 2027 due to election pressures, despite implementing a 17.5% capital gains tax and classifying stablecoins as foreign exchange. Crypto adoption remains robust, with significant inflows and growth.
Resolv Labs faced a security breach where attackers minted 50M unbacked USR tokens, causing a rapid sell-off that depegged USR. Recovery efforts are ongoing, with losses estimated at $25M, while protocol operations remain paused.
CFTC permits Bitcoin, Ethereum, and stablecoins as margin collateral with strict valuation haircuts and risk controls applied.
Stablecoins receive lower capital charges than BTC and ETH, reflecting reduced volatility in margin calculations.
Firms must meet reporting, cybersecurity, and ap
Resolv Labs halted its decentralized finance ( DeFi) protocol early Sunday morning after an exploit allowed an attacker to mint tens of millions of unbacked USR stablecoins, sending the token sharply off its dollar peg.
What Caused the Resolv Labs Hack and USR Depeg?
The incident struck the Resol
The Resolv network suffered a severe exploit, draining 80M $USR tokens. Attackers rapidly swapped the stolen assets across decentralized exchanges to cover their tracks. The platform has halted operations and is investigating recovery efforts while urging users to stay vigilant.