DeFi
Senate judiciary leaders challenge crypto bill's jurisdiction
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Senate Judiciary Committee leaders Chuck Grassley and Dick Durbin have raised concerns about a provision in a cryptocurrency market structure bill led by Senate Banking Chair Tim Scott, arguing it encroaches on their committee's jurisdiction. The dispute centers on exemptions for crypto software developers, which they say could hinder law enforcement efforts against money laundering. The bill's markup has been postponed amid this opposition and industry pushback.
Solv Protocol is shifting more than $700 million in tokenized Bitcoin from LayerZero to Chainlink's CCIP. The move follows Kelp DAO's similar decision after a major exploit.
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Solana-based Drift Protocol has outlined a plan to repay users following a $295 million exploit linked to North Korean hackers. The lending platform proposes tokenized claims and a revenue-backed recovery pool to cover losses. Drift is working with law enforcement to trace and recover the stolen funds.
Figure's Home Equity Line of Credit token, known as Figure Heloc, has surged to become the tenth-largest cryptocurrency by market size, exceeding $15 billion. However, the token faces criticism for its limited onchain activity and liquidity. Supporters defend it as a legitimate real-world asset on the blockchain.
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At the Ondo Summit in New York City, former House Financial Services Chair Patrick McHenry and White House advisor Patrick Witt expressed optimism about a sweeping crypto market structure bill passing soon. McHenry forecasted the legislation reaching the president's desk by Memorial Day, while Witt highlighted ongoing White House efforts to broker agreements. Disputes over stablecoin yields and ethics rules persist but appear surmountable.
Two U.S. Senate committees have scheduled simultaneous markup sessions for January 15 on legislation to regulate cryptocurrency markets, aiming to clarify oversight between the SEC and CFTC. Bipartisan negotiations are showing early progress on key issues like decentralized finance, though concerns persist over stablecoin yields and investor protections. The push comes amid efforts to advance a unified bill toward a potential floor vote.
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A new academic paper from Cornell Tech highlights inherent risks in collective crypto trading schemes known as CoinAlgs, which pool user funds for automated trades. These systems face trade-offs between transparency and profitability, leaving them open to losses and insider exploitation. The findings underscore challenges in making institutional-grade strategies accessible to retail investors.
Figure achieves $1 billion in monthly loan originations
Jumamosi, 2. Mwezi wa tano 2026, 16:31:31$292 million Kelp DAO exploit exposes DeFi vulnerabilities
Ijumaa, 1. Mwezi wa tano 2026, 01:14:18North Korean hackers steal $6 billion in crypto since 2017
Alhamisi, 30. Mwezi wa nne 2026, 20:47:21THORWallet partners with Unblock for global non-custodial Mastercard access
Ijumaa, 27. Mwezi wa pili 2026, 08:22:35Ripple launches program to diversify XRP Ledger funding
Ijumaa, 30. Mwezi wa kwanza 2026, 18:57:25Citi sees momentum for CLARITY Act but warns of delays
Jumatatu, 26. Mwezi wa kwanza 2026, 13:50:21Delay in U.S. crypto bill caps sector valuations, analyst says
Jumatatu, 19. Mwezi wa kwanza 2026, 06:11:37a16z crypto urges defi to adopt 'spec is law' for security
Jumapili, 11. Mwezi wa kwanza 2026, 02:45:17DeFi wraps traditional finance instead of replacing it
Jumamosi, 10. Mwezi wa kwanza 2026, 11:53:19Senate advances crypto market structure bill for markup