DeFi users pull $10 billion out of the market as $292 million exploit sparks bank-run opticsA single verifier path let a fraudulent cross chain message slip through, and the knock on effects spread fast across the DeFi ecosystem.
Happy Monday!DeFi users yanked $10 billion from protocols amid a $292 million exploit that triggered bank-run fears, while crypto traders burned through $9.7 billion in fees, just as Bitcoin’s next drawdown looms to reveal what’s sustainable; meanwhile, Morgan Stanley’s modest $116 million Bitcoin ETF launch signals Wall Street’s quiet pivot toward crypto demand. Dive into the full stories below. The global crypto market cap is $2.54 trillion, with a 24-hour volume of $141.02 billion. The price of Bitcoin is $75,647.10, and BTC market dominance is 59.5%. The price of Ethereum is $2,311.78, and ETH market dominance is 11.0%. The best-performing sector is Sports, which gained 7%. The Crypto Fear & Greed Index is currently Extreme Fear (29). 📰 Top News
DeFi users pull $10 billion out of the market as $292 million exploit sparks bank-run opticsA single verifier path let a fraudulent cross chain message slip through, and the knock on effects spread fast across the DeFi ecosystem. Crypto traders spend $9.7B on fees as the next Bitcoin drawdown will expose which on-chain costs are realA new 1kx analysis suggests many protocol fees rise with Bitcoin prices, but the real test is what happens in down months, when macro fear hits and fee beta turns painful. Morgan Stanley’s $116M Bitcoin ETF debut is tiny next to $1.9T, and that’s why Wall Street will noticeMSBT’s early inflows are negligible next to Morgan Stanley’s $1.9 trillion platform, but they offer something more valuable: proof that a bank-branded Bitcoin product can attract demand fast.
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DeFi users pull $10 billion out of the market as $292 million exploit sparks bank-run optics