In a major blow to the decentralized finance (DeFi) ecosystem, GMX, a leading decentralized perpetual exchange, has suffered a $42 million security breach. The attack, which occurred on July 9, 2025, specifically targeted GMX’s GLP liquidity pool, prompting urgent responses from the platform and blockchain security experts. How the GMX Exploit Happened On-chain data reveals that the attacker drained significant funds from GMX’s GLP pool, converting stolen assets through multiple steps to obfuscate the trail. Initially, the hacker converted USDC to ETH, then swapped ETH for DAI, and also extracted millions in FRAX, wrapped bitcoin (WBTC), wrapped ether (WETH), and…
Author: Blockto Team
Kraken, one of the world’s leading cryptocurrency exchanges, and Backed, a tokenization infrastructure provider, have officially announced the expansion of xStocks support to BNB Chain. This move follows the successful rollout of tokenized U.S. equities on Solana and marks a major step forward in the ongoing evolution of onchain finance. What Are xStocks and Why They Matter xStocks are tokenized representations of U.S.-listed stocks and ETFs, including AAPLx, TSLAx, SPYx, and NVDAx. These assets are designed for non-U.S. users to gain seamless, 24/5 access to equities — with the flexibility of onchain trading and programmability through DeFi integrations. With this…
In a first for Japan’s credit card industry, SBI Group has partnered with APLUS to allow customers to convert loyalty points into popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and XRP. This development is a significant milestone for digital asset adoption in a country known for strict regulatory oversight and innovation in fintech. SBI VC Trade Enables Point-to-Crypto Conversion Starting this month, APLUS cardholders enrolled in the APLUS Points program can choose to redeem 2,100 points for approximately 2,000 yen worth of cryptocurrency, which equates to roughly $13 USD at current rates. The crypto assets will be directly deposited into…
Status Network, a decentralized communications initiative, has unveiled a revolutionary Layer 2 blockchain built on the Linea zkEVM stack, offering gasless transactions and a completely fee-free experience for users and developers alike.\ Unlike traditional Ethereum Layer 2s, which rely on sequencer fees to operate, this new network eliminates user-side transaction costs entirely and introduces an innovative model that rewards liquidity providers (LPs) and builders using yield from bridged assets. Gasless Blockchain Technology: How It Works The testnet for Status Network is already live, featuring a unique economic structure designed to sustain the platform without charging gas fees. Instead of asking…
Shiba Inu (SHIB), the popular meme-based cryptocurrency, is showing signs of a strong price recovery even as large holders continue to offload their tokens. Meanwhile, futures market data suggests growing investor optimism. SHIB Price Recovery Gathers Pace After weeks of sideways movement, Shiba Inu’s price has gained more than 5% in the past week, climbing above the 23.6% Fibonacci retracement level of the May-June sell-off. This technical milestone indicates that bullish momentum is returning to the market, with traders now eyeing higher levels if the trend holds. According to technical charts, SHIB’s 14-day Relative Strength Index (RSI) has moved above…
Ethereum co-founder Joseph Lubin has emphasized the critical role of Ether (ETH) corporate treasuries in supporting the long-term development and adoption of the Ethereum ecosystem. In a recent interview with CNBC, Lubin highlighted that while a significant amount of Ether is currently in circulation, much of it remains underutilized — and treasury strategies could change that. Corporate ETH Treasuries and Demand Dynamics Lubin explained that corporate Ether treasuries are not just a financial tool but a strategic necessity. By encouraging businesses to hold ETH, the Ethereum network can better manage supply-demand dynamics, ultimately enhancing asset scarcity and value appreciation. “It’s…
In a major step toward aviation innovation, Emirates Airline has signed a Memorandum of Understanding (MoU) with Crypto.com to integrate cryptocurrency payments into its infrastructure by 2026. Emirates Embraces Digital Payments Emirates, one of the world’s leading airlines, announced the agreement during a formal signing ceremony attended by His Highness Sheikh Ahmed bin Saeed Al Maktoum, the chairman and CEO of Emirates Airline & Group. The MoU was signed by Adnan Kazim, Emirates’ deputy president and chief commercial officer, and Mohammed Al Hakim, president of Crypto.com’s UAE operations. The new partnership will allow Emirates to implement Crypto.com Pay, enabling customers…
Despite escalating rhetoric on trade tariffs, U.S. financial markets remain steady, signaling investor confidence that diplomatic negotiations will prevail over economic disruption. Trump’s Tariff Deadline Set for August 1 In early July 2025, President Donald Trump reignited trade tensions by issuing formal warnings to 14 nations regarding increased tariffs on exports to the U.S.. These tariffs are set to take effect on August 1, following the expiration of a previously established 90-day pause. Trump reinforced his stance through a public announcement on Truth Social, asserting that the August 1 deadline would not be extended. However, global markets and rate-sensitive instruments…
The rise of asset tokenization is transforming the crypto investment landscape—and Bitwise says ETH, SOL, XRP, and LINK are the cleanest long-term plays. Tokenization Gains Real-World Traction Tokenization—the process of issuing traditional financial assets like stocks, bonds, and funds on blockchain platforms—is quickly moving from concept to implementation. According to a recent research note by asset management firm Bitwise, this trend could become the most significant crypto narrative of the decade. In the past month alone, platforms like Robinhood and Kraken have launched tokenized stock trading for international users. Meanwhile, major Wall Street firms have invested over $135 million in…
South Korea is preparing to lift longstanding restrictions that bar cryptocurrency firms from registering as venture businesses, a move that could unlock major benefits in taxation, funding, and regulatory access. Government Shifts Stance on Crypto Industry On Wednesday, the Ministry of SMEs and Startups announced a proposal to allow crypto-related companies to qualify as venture businesses. Under the current framework, companies involved in virtual assets are excluded from this classification, limiting their access to crucial government incentives. The ministry cited a “shift in perception” of the digital asset industry and noted that South Korea now has “legal and institutional safeguards”…