crtypto & forex news

Code vulnerabilities were responsible for the bulk of the damage in May — roughly 66% of the month’s total losses, or about $45 million. That breakdown, drawn from data released by blockchain security firm CertiK, came alongside broader figures showing that overall crypto exploit losses fell to $68 million last month, down sharply from $650 million in April. Where The Losses Came From Cross-chain bridges took the heaviest hit by category, accounting for 42% of total losses, or $28.6 million. The biggest single incident was an exploit of Verus Protocol’s cross-chain bridge on May 18, which drained $11.5 million. THORChain was next, losing $10 million after an attack in mid-May forced the protocol to halt trading. Wallet and private key compromises ranked second in terms of dollar damage, with $13.7 million stolen through that method. DeFiLlama data counted nearly 30 separate incidents in May, seven of which involved compromised private keys. The final two reported inci...

XRP may be heavily bearish right now, as its price steadily falls toward the $1.30 mark due to the highly unfavorable market environment. However, several predictions suggest that this phase is simply temporary and the broader outlook is extremely bullish, with the potential of reaching unprecedented levels such as $11. XRP’s Probability To Hit Unprecedented Levels Grows Despite how bearish the XRP price may appear, its broader outlook seems bullish, believed to touch a two-digit value in the foreseeable future. Multiple predictions regarding this move have started to unfold across the space, putting XRP in the spotlight. A market analyst known as Cheeky Crypto has spurred new debate in the cryptocurrency community following a prediction that the leading altcoin could hit the $11 price level. According to the market expert, the token has about a 53% chance of reaching this audacious level very soon. His forecast is based on a number of factors, including market structure, past ...

BitMEX co-founder Arthur Hayes has predicted that the altcoin Hyperliquid will overtake Solana before this market cycle ends. The crypto founder has also reiterated his $150 price target for the HYPE token, predicting it will be reached by the start of the second half of the year.  Arthur Hayes Predicts Hyperliquid Will Overtake Solana In Market Cap In an X post , Hayes opined that Hyperliquid should, at a minimum, overtake Solana before this “bull run” is over. The crypto founder also remarked that his portfolio was in a bull market, even as another X user stated that the crypto market was in a bear market . It is worth noting that the BitMEX co-founder has recently revealed exposure to HYPE, ZEC, and NEAR, which are among the altcoins that have recorded significant gains over the past few weeks.   Meanwhile, Hayes’s prediction that Hyperliquid will overtake Solana came while the altcoin was still trading below the psychological $70 price level and at a $15 billion market cap. S...

Users who fail to migrate their accounts before quantum computers become a practical threat would not automatically lose their assets under Circle’s new plan — the company is proposing recovery frameworks tied to cryptographic proofs, seed phrase verification, exchange records, and even court orders if necessary. A Long Road, Not A Quick Fix Circle, which issues the USDC stablecoin across more than 30 blockchain networks, published a post-quantum security whitepaper on Friday outlining how it intends to prepare USDC and its upcoming Arc blockchain for an era when today’s cryptographic standards may no longer hold. The plan runs in three phases: a readiness stage to identify vulnerable systems, a transition period where old and new cryptography operate side by side, and a final migration that could see classical signature schemes retired entirely. The underlying risk is technical but significant. Most blockchains rely on elliptic curve cryptography, and a powerful enough...

The price performance of Ethereum was disappointing for most of May , as the bears seemed to be in full control. It doesn’t seem like much will change for the “King of Altcoins” in the new month, which appears to be a mere continuation of the established downward trend. According to a popular analyst on the social media platform X, the Ethereum price could be on its way down to around $1,850. Is ETH Price Stuck In A Descending Channel? Crypto analyst Burak Kesmeci took to the X platform to share his projection for the Ethereum price over the coming days. The market pundit posited that the second-largest cryptocurrency could decline toward the $1,822-$1,850 range if it fails to break the $2,033 resistance in the next few days. This bearish outlook is premised on the fact that sellers have been in a dominant position in the short term and for much of the past month. This dominance is evident in the formation of a descending channel on the four-hour timeframe of the E...

US Bitcoin Spot ETFs reported net outflows of $1.42 billion in the final week of May, extending the persistent negative trend observed throughout most of the month. The bearish performance by these investment funds aligns with Bitcoin’s price struggles, when the premier cryptocurrency failed to breach the key resistance of $82,000 around May before slipping into another correction. Bitcoin ETFs See Persistent Red Across Second Half Of May In analyzing the individual fund performances over the week, it is observed, in typical fashion, that selling pressure was concentrated among the largest issuers. According to data from SoSoValue , BlackRock’s IBIT led the outflows by a wide margin, with withdrawals exceeding deposits by $966.42 million. Behind the market leader, Fidelity’s FBTC and Grayscale’s GBTC also registered significant capital flight, posting net outflows of $169.15 million and $175.09 million, respectively. Bitwise’s BITB also recorded moderate net outfl...

Four working weeks. That’s all the time left in June for the US Senate to move on the CLARITY Act before lawmakers head into recess — and the crypto industry is watching the clock. A Crowded Legislative Calendar Senate Majority Leader John Thune confirmed that the chamber’s reconciliation package would not be completed this month, forcing senators to return in June with a packed agenda. The CLARITY Act, a market structure bill that cleared the Senate Banking Committee with a 15-9 bipartisan vote, now has to compete for floor time against reconciliation talks, FISA matters, and a housing package already passed by the House. Galaxy Digital CEO Mike Novogratz put the situation plainly. “June is ‘Clarity’ month,” he wrote on X. “It’s literally now or never.” Treasury Secretary Scott Bessent has also pushed both the Senate and House to move on the bill. His call to action was followed by a jump in approval odds on prediction marke...