It’s All About Crypto Blog
Shibarium Hack: The Fix That Looks Worse Than the Attack
Yesterday, the Shibarium network was hacked, and today the Shiba Inu team revealed the consequences and their response. In my view, the measures they took might be even more damaging than the hack itself. THE HACK: Around $2.3M worth of ETH and SHIB was stolen. These funds were withdrawn from the Shibarium bridge and belonged to users who had provided liquidity there. That’s...
Stablecoin Season
Tether has just announced plans to launch a new stablecoin for the US market, calling it USAT. At this rate, the Rabbit Swap blog is turning into a stablecoin blog: * two days ago I wrote about USDH, * yesterday it was hUSDe, * and today we’ve got USAT. Everyone’s been waiting for altseason. Mike Novogratz even declared that Solana season...
Another day, another stablecoin
Yesterday, in my post about the hype around the USDH ticker, I asked why the Hyperliquid team even needs another stablecoin when USDC has already been firmly established as the dominant one in their ecosystem. If you remember, I pointed out that one of the contenders for launching USDH – Native Markets – had made it clear they would issue a stablecoin...
USDC Wasn't Enough? The USDH Debate
For the past few days, everyone’s been debating who will get the green light to issue the USDH stablecoin, which is supposed to become Hyperliquid’s main stablecoin. The contenders are: * Paxos and Agora, pushing for traditional regulated assets, * Frax and Sky, offering DeFi-style solutions, * Ethena, already behind the world’s third-largest stablecoin, * Native Markets, who are planning...
Can the Government Be a Crypto Owner - or Just a Key Holder?
The US Congress is considering a bill that would require the Treasury Department to deliver, within 90 days, an analysis of the capabilities, storage measures, cybersecurity, and legal grounds for the federal government to hold digital assets. In other words, they’re exploring the idea of a national digital asset reserve. What I find most interesting are the legal grounds. I wrote about this in...
103.5% reserves with a negative balance
Binance has just released another Proof-of-Reserves report, and for the first time I noticed something that’s both surprising and revealing - though it turns out it has actually been showing up in these reports for quite a while. Take a look: * Customer balances: 608,017 BTC * Binance balance: 600,060 BTC That’s a shortfall of 7,943 BTC. The exchange...
Crypto Fees: Why Can’t I Know the Cost In Advance?
Recently, one of our users submitted a transaction on the Ethereum network but set the gas fee too low. As a result, they had to wait a long time for confirmation. After realizing what caused the delay, the user made a surprisingly sharp observation — something rarely discussed: “Why is it that in crypto, you never know upfront how much...
Insiders, hackers, or both? The strange case of WLFI freezes
World Liberty Financial reported that it has frozen 50 WLFI token addresses at the request of the address owners, who claimed their wallets had been compromised. Now imagine this situation happened to you. If your address was compromised, what would you do: quickly move all your funds somewhere else (even to a CEX, just to keep the hacker from getting them), or reach out...
Why Trading Against James Wynn Could Be Dangerous
James Wynn is a name familiar to many crypto enthusiasts. He's a trader who regularly takes massive positions on the on-chain platform Hyperliquid. But what he's truly famous for are his liquidations - they happen almost every single day. I actually think he's an incredibly talented trader. No one else seems to nail the wrong direction of the market so consistently. I once saw...
Why SHIB Burns Don’t Always Mean Price Pumps
Over the past 24 hours, SHIB’s burn rate has spiked sharply. On shibburn.com you can check the chart and see the exact numbers - more than 5 million SHIB burned in just one day. Does this mean the price of SHIB is about to rally? After all, that’s the whole point of burning tokens, right? Not necessarily. Here’s why. If the burned tokens...
