DeFi
Latest news, analysis, and updates on DeFi from A47 News.
9 stories in Crypto · Updated live
Movement Labs files for Chapter 11 bankruptcy amid financial turmoil
Movement Labs has filed for Chapter 11 bankruptcy, revealing assets of no more than $500,000 against liabilities potentially reaching $10 million. This filing comes after a year of instability linked to the controversial MOVE token and internal governance challenges. The outcome of the restructuring process will be critical for the company's future in the cryptocurrency market.
Hyperliquid launches HIP-4 upgrade enabling permissionless prediction markets
Hyperliquid has announced the HIP-4 upgrade, which introduces permissionless prediction markets requiring a stake of 500,000 HYPE tokens. This shift is driven by the platform's goal to enhance user engagement and expand its decentralized finance offerings. The long-term implication is a potential increase in the number of prediction markets, fostering innovation and user participation in the ecosystem.
Cardano's Van Rossem hard fork transitions mainnet to Protocol Version 11
The Van Rossem hard fork has successfully upgraded Cardano to Protocol Version 11. This historic upgrade, the first to be ratified by the community, aims to significantly reduce smart contract execution costs. The long-term implication is a potential increase in user engagement and trust, paving the way for further scalability improvements with the upcoming Ouroboros Leios upgrade later in 2026.
Allbridge halts operations after $1.65 million exploit involving flash loan manipulation
Allbridge has paused its services following a significant exploit that resulted in a loss of approximately $1.65 million. The immediate trigger for this halt was an attacker using a flash loan to manipulate asset ratios, allowing for the withdrawal of funds at advantageous rates. This incident highlights the urgent need for enhanced security measures in decentralized finance platforms to prevent future vulnerabilities.
Latest Stories
Movement Labs files for Chapter 11 bankruptcy amid financial turmoil
Movement Labs has filed for Chapter 11 bankruptcy, revealing assets of no more than $500,000 against liabilities potentially reaching $10 million. This filing comes after a year of instability linked to the controversial MOVE token and internal governance challenges. The outcome of the restructuring process will be critical for the company's future in the cryptocurrency market.
Balance Coin suffers catastrophic collapse due to exploit
Balance Coin experienced a dramatic decline, losing over 99% of its value following an exploit that drained approximately $912,000 in bitcoin-backed collateral. The attack was triggered by a manipulation of the price oracle, allowing unauthorized minting and swaps of the stablecoin. This incident underscores the urgent need for enhanced security measures in decentralized finance protocols to prevent future vulnerabilities and protect investor trust.
Midnight Token Faces Volatility After Wanchain Bridge Exploit
The Midnight Token's value plummeted following a $13 million exploit of the Wanchain bridge, resulting in a loss of approximately 515 million NIGHT tokens. This incident has prompted industry leaders like Charles Hoskinson to advocate for enhanced security measures in cryptocurrency infrastructure. In the long term, the focus is likely to shift towards developing more robust blockchain security protocols to prevent future vulnerabilities.
Bernstein Raises Robinhood Price Target to $160 Amid Prediction Markets Growth
Analysts at Bernstein have increased their price target for Robinhood to $160, driven by anticipated growth in prediction markets revenue. This shift is occurring now as prediction markets are projected to surpass cryptocurrency trading revenue by Q2 2026. The long-term implication is that Robinhood's strategic pivot could redefine its business model and alter the competitive landscape in the trading sector.