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Nemo Protocol, a DeFi lending platform on the Sui Network, was recently exploited, resulting in a loss of $2.4 million. The incident highlights ongoing security challenges in newer blockchain ecosystems and underscores the importance of robust safeguards for developers and users in decentralized finance.
Despite Ethereum trading at historic highs, its network revenue fell 44% in August to just $14.1 million. In the midst of strong market momentum, the dip raises concerns about sustainability by highlighting declining transaction fee income and decreased on-chain activity. The decline in revenue indicates a discrepancy between market performance and network utilisation, even as ETH’s price strength indicates investor confidence.
The Hong Kong Economic Journal claims that the HKMA will only grant a limited amount of stablecoin licenses during the first phase. A total of 77 universities had shown interest by the end of last month. In addition to BOC Hong Kong, ICBC (Asia) has expressed interest in applying. Standard Chartered and BOC Hong Kong are probably the front-runners for early approval, according to industry sources.
U.S. Non-Farm Payrolls (NFP) dropped to their lowest level since October 2024, while the unemployment rate rose to the highest since July 2024, per ForexFactory reports. The numbers suggest a weakness in labor market, raising concerns about job growth and economic momentum. Policymakers and investors will be watching closely, as these trends could impact interest rates, market sentiment, and the broader economic outlook in the months ahead.
Tether is investigating prospects in mining, refining, trading, and royalties in an effort to get into the gold sector. Earlier this year, the business invested $105 million in Elemental Altus and currently has $8.7 billion in gold in a Zurich vault. According to CEO Paolo Ardoino, gold complements Bitcoin naturally and provides security beyond sovereign currencies.
DeFi Development Corp now has 2,027,817 $SOL (~$427M) in total holdings after adding 196,141 $SOL at an average price of $202.76. This action shows how confident the firm is in Solana’s expansion and how dedicated it is to become a significant player in the blockchain ecosystem.
In an effort to make compliance easier for Wall Street companies, the US SEC has implemented new crypto legislation. To lessen regulatory burdens while safeguarding investors, proposed reforms include safe harbours and streamlined disclosure requirements. With the growing institutional acceptance of digital assets, the move indicates a desire for more precise norms.
Brian Armstrong, the CEO of Coinbase, has issued a directive mandating that all engineers become proficient in AI coding helpers, such as GitHub Copilot and Cursor, within a week. Failure to comply with the instruction could result in termination. The program’s goal is to hasten the deployment of AI throughout the entire organisation. Currently, about one-third of Coinbase’s codebase is produced by AI, with the goal of increasing this percentage to 50% by the conclusion of the current quarter.
Etherealise, an advocacy group for Ethereum, has raised $40 million to introduce Wall Street to its blockchain vision. The financing is intended to increase traditional financial institutions’ knowledge of and use of Ethereum-based solutions. Etherealise intends to use this funding to close the gap between mainstream finance and cryptocurrency innovation by educating investors and businesses about smart contracts, decentralised finance, and Ethereum’s ecosystem.
Ripple is collaborating with Chipper Cash, VALR, and Yellow Card to increase financial inclusion as it expands into Africa with its RLUSD stablecoin. Through the move, Ripple’s global presence is strengthened and it taps into Africa’s rapidly expanding digital banking industry, providing millions of people around the continent with faster, cheaper cross-border payments and stable digital transactions.
