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ALEX Lab Foundation submitted proposal AGP-8 to stop ALEX token emissions and add a buyback-and-burn model, with circulating supply at about 973 million tokens near the 1 billion cap. If approved, the next 32 cycles would be the final emission cycles.
Ed Yardeni said the Federal Reserve should abandon its dovish stance at the June meeting. Yardeni Research said the Fed risks losing control of borrowing costs if it does not keep pace with the bond market as inflation worries rise.
The two-year partnership between Apple and OpenAI has begun to fray, according to people familiar with the matter. Sources said OpenAI's legal team is working with an external law firm on legal options that could be executed in the near future.
BitMEX co-founder and Maelstrom CIO Arthur Hayes cut his Bitcoin target to $125,000 from $500,000 at Consensus Miami. Hayes said Bitcoin's value depends on global fiat liquidity.
A South Korean court partly granted Samsung Electronics' injunction request against a planned union strike, while South Korea's KOSPI reversed an earlier 4.68% decline and turned positive. The request targeted strike action planned by Samsung Electronics' union.
Tom Wan said ETH utilization has fallen below 90% and lending APY has dropped to 1.9% after the rsETH LayerZero bridge attack. Wan said wstETH and weETH deposits have declined by about $1.2 billion and $1.76 billion, respectively.
Kelp DAO said it will stop supporting rsETH bridging on 20 cross-chain networks from June 15. Kelp DAO told users to move rsETH to Ethereum mainnet before the deadline, and late bridging will cost 100 USDC per address.
Tom Wan said ETH utilization fell below 90% and the ETH borrowing rate dropped to 1.9% after the rsETH LayerZero bridge hack. Wan said deposits of wstETH and weETH fell by about $1.2 billion and $1.76 billion, while looping leverage profitability has turned positive again.
A whale address sold another $15.46 million in WBTC. The address has sold $35.73 million over the past three days and still holds about $125 million in on-chain assets.
Blockaid said its exploit detection system identified an ongoing attack on the Verus-Ethereum Bridge after approximately $11.58 million was drained. The community alert said the exploit was still active at the time of the warning.
Address 0xB4d…B186a sold another $15.46 million in WBTC, according to on-chain analyst Ai Yi. The address sold $35.73 million in tokens over the past three days and still holds about $125 million on-chain, with 95% in ETH and WBTC.
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