You and #DRIFT are together today.

PeckShield estimates that the Drift Protocol breach resulted in $285 million in losses. The security firm also indicated that the attacker may use Phantom to convert the stolen assets.

The blockchain landscape signals ongoing recovery, with increasing supply at a loss and persistent long-term holder sell-offs. Spot demand is beginning to pick up, but Bitcoin currently appears to be in a redistribution phase rather than establishing a clear trend. The market remains range-bound until a notable rise in spot demand coincides with a reduction in excess supply.

Today's Summary and Tomorrow's Events - https://t.me/bingx1/2147483647

Russia's government has submitted a draft federal law titled "On Digital Currency and Digital Rights" to the State Duma. The proposed legislation allows for the use of digital currencies as a means of settlement in foreign trade agreements involving both residents and non-residents. These agreements could encompass the transfer of securities, digital rights, goods, completion of work, provision of services, and the exchange of information and intellectual property. [pnp]

The price of TWT declined approximately 25% yesterday amid widespread speculation on Twitter over large token sales by whales and a lack of communication from Trust Wallet’s new CEO regarding the project’s direction. Open interest in TWT decreased sharply in the morning hours, preceding the notable price decline. During this period, TWT was among the most sold tokens across centralized exchanges. The sharpest drop occurred following significant sell-offs on Binance starting at 09:37 Moscow time. By 12:44 today, TWT reappeared among the top assets in purchase volume across all CEXs, contributing to a partial price recovery.
#Careport 📊 Chart

TWT's price declined approximately 25% yesterday amid rumors on Twitter of substantial whale token sales and a lack of communication from Trust Wallet’s new CEO regarding the project's prospects. Open interest declined sharply in the morning before the price drop. The token ranked among the most sold across all centralized exchanges, with the significant decrease occurring following large sell-offs on Binance starting at 09:37 Moscow time. By 12:44 today, TWT re-emerged as a top purchase across all CEXs, prompting a partial recovery.

TWT experienced a approximately 25% decline yesterday amid market speculation prompted by Twitter rumors of substantial whale sales and the new Trust Wallet CEO's silence on the project's future outlook. Open interest diminished rapidly in the morning prior to the price drop. The token also ranked among the top-selling assets on major centralized exchanges, with significant sell-offs occurring on Binance at 09:37 Moscow time. By 12:44 today, TWT re-entered the top purchase lists across exchanges, coinciding with a partial price recovery.

Trump attributes rise in U.S. oil prices to Iran, claiming he established “the strongest economy in history” without inflation, with the stock market reaching record highs during his presidency. Separately, Iran has mandated that vessels transiting the Strait of Hormuz pay fees in either cryptocurrency or Chinese yuan.

Trump attributes rise in U.S. oil prices to Iran, claiming he established "the strongest economy in history" without inflation, with the stock market reaching its highest level during his presidency. Iran now mandates that vessels transiting the Strait of Hormuz pay fees in cryptocurrency or Chinese yuan.

Tommy Shaughnessy, co-founder of Delphi Digital, criticized Circle for failing to freeze the USDC linked to the Drift exploit, despite having the ability to do so. He noted that Circle allows transactions to continue unchecked.

ZachXBT also commented on Circle's response time, pointing out that millions of dollars moved from Solana to Ethereum via CCTP within hours, without any freezing measures in place to prevent the transfers. Wublockchain

A political committee supporting cryptocurrency will be led by the head of government relations at Tether ahead of the upcoming U.S. midterm elections.

EDX has filed an application with the Office of the Comptroller of the Currency for a trust bank charter to oversee cryptocurrency services for institutional clients. cointelegraph

Coinbase's Chief Legal Officer, Grewal, said the Clarity Act is "very close" to reaching an agreement on stablecoin profitability.

Whale and institutional transactions highlight significant movements in digital assets:

1. Four wallets, likely associated with the same large investor, acquired 32,879 ETH valued at approximately $69 million through Kraken.

2. A wallet that purchased 91,891 SOL at $175 each seven months ago sold an additional 47,401 SOL valued at $3.98 million to offset losses following the Drift Protocol hack, resulting in total losses exceeding $4 million.

3. Riot Platforms, one of the largest Bitcoin miners in the United States, sold 500 BTC, approximately $34.13 million.

4. Empery Digital (formerly Volcon), a Bitcoin reserves holder, transferred the remaining 1,795 BTC, about $122.5 million, to Gemini.

eToro launches cryptocurrency trading in New York three years after securing a BitLicense, The Block reports.

Taiwanese think tank recommends reconsidering Bitcoin as a national reserve asset amid potential conflict with China. The group argues that if China pursues reunification through military means—such as a blockade or invasion—Bitcoin would be the only reserve asset remaining fully accessible and usable in any scenario. cointelegraph

Paradigm is developing a new terminal dedicated to the prediction market, according to Cointelegraph.

Alabama has become the second U.S. state to officially recognize decentralized autonomous organizations as legal entities through the DUNA Act. More information is available here. #regulation

Yesterday, net outflows from spot Bitcoin ETFs totaled approximately $173.7 million, while withdrawals from spot Ethereum ETFs reached around $7.1 million.

Yesterday, net outflows from spot Bitcoin ETFs totaled approximately $173.7 million, while spot Ethereum ETFs saw net withdrawals of around $7.1 million.