CME and ICE push US regulators to crack down on Hyperliquid
Plus, Tokenized ETFs cross $430M onchain, led by Ondo's IVVon
gm, Defiers!
- CME and ICE push US regulators to crack down on Hyperliquid
- Tokenized ETFs cross $430M onchain, led by Ondo's IVVon
- THORChain loses $10.7M after Asgard vault compromise
- BChat: A Decentralized Privacy Messenger Built on the Beldex Network [Sponsored]
- RocketPool: How to Earn Yield on ETH Starting With Just 0.01 ETH [Sponsored]
Crypto pulled back sharply. BTC slipped 2.9% to $79,148, ETH dropped 3.3% to $2,223, and altcoins followed: XRP -5.2%, SOL -3.7%. The headline catalyst: CME Group and NYSE parent company ICE are lobbying the CFTC and US lawmakers to impose federal oversight on Hyperliquid, per a Bloomberg report. On the institutional adoption side, the tokenization category quietly hit a real milestone. Tokenized ETFs crossed $430 million in combined onchain market cap per Token Terminal.
We got another hack today. THORChain disclosed a $10.7 million loss after one of six Asgard vaults was compromised — the network's automated detection halted further outbound transactions, but the root cause is still under investigation. On the flip side, DeFi companies are raising the bar on security. Spark published a full breakdown of its risk framework for the Sky Agent Network — detailing how losses are absorbed and capital movement is constrained across Spark Savings, SparkLend, and the Spark Liquidity Layer.
Read more below!
Nexo is a digital wealth platform offering crypto yield up to 15% and crypto-backed credit lines from 1.9%. Join and get 30-day access to exclusive rates. Terms apply.
🔴 CLARITY Act: Who wins and who loses?
The CLARITY Act is reshaping stablecoin regulation — but who wins and who loses?
Lewis Cohen (Cahill) and Joe Chalom (SharpLink) broke it down live.
CME and NYSE Owner Push U.S. Regulators to Crack Down on Hyperliquid
CME Group and Intercontinental Exchange — the parent of the New York Stock Exchange — are lobbying the CFTC and US lawmakers to impose federal oversight on Hyperliquid, per a Bloomberg report Friday. The exchanges argue the protocol's largely offshore, lightly-regulated trading environment is vulnerable to market manipulation and sanctions evasion, and that Hyperliquid's growing crypto-and-commodity volumes encroach on the regulated derivatives space CME and ICE dominate. The Hyperliquid Policy Center disputed the framing.
Tokenized ETFs Surpass $430 Million in Onchain Market Cap, Led by Ondo Finance's IVVon
Tokenized exchange-traded funds have crossed $430 million in combined onchain market cap per Token Terminal data published Friday. Ondo Finance's IVVon — a tokenized version of the iShares Core S&P 500 ETF — leads the category, with the token up roughly 150% in the past month on Ethereum. The growth reflects accelerating institutional and retail demand for on-chain exposure to traditional equity benchmarks.
THORChain Reports $10.7M Loss From Compromised Asgard Vault
THORChain disclosed a security incident involving the compromise of one of six Asgard vaults, with losses estimated at approximately $10.7 million. The network's automated detection systems flagged unauthorized outbound transactions and halted further signing activity, preventing additional losses. The root cause remains under investigation; security analyst Taylor Monahan is among those tracking the post-mortem.
Spark Publishes Risk Framework for Sky Agent Network
Spark published a full breakdown of its risk framework for the Sky Agent Network, detailing how losses are absorbed, capital movement is constrained, and risk is bounded across its three core components: Spark Savings, SparkLend, and the Spark Liquidity Layer. The framework operates on the same security-first principles Sky Protocol has maintained for over a decade, and codifies layered safeguards for protocol-driven autonomous agent activity.
Trending on The Defiant
Free newsletters
Good reporting. Delivered.
Choose your coverage: crypto and DeFi, the future of finance, or both.
Free. Unsubscribe anytime.
