DeFiAbracadabra: MIM Stablecoin Crashes 50% Below Dollar Peg
Abracadabra's MIM stablecoin dropped to $0.49, half its $1 target. We explain how the Cauldron lending system works and why the depeg happened.
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DeFi
EthereumEthereum Foundation Lays Off 54 Staff and Cuts Budget by 40%
Ethereum Foundation laid off 54 staff (20%) and cut its budget by 40%. Buterin targets an endowment model: spending drops from 15% to 5% of reserves after 2030.
SecuritySecret Network Lost $4.67M in Infinite Mint Bridge Exploit
An attacker minted unbacked Axelar-wrapped tokens via a flaw in Secret Network's smart contract, stealing $4.67M over 7 undetected days in June 2026.
EthereumEthereum Foundation loses co-director as exits hit 19 in 2026
Co-executive director Hsiao-Wei Wang has resigned from Ethereum Foundation. EF has now logged 19 departures in 2026 as ETH struggles below $1,700.
EthereumEthereum SPHINCS- Post-Quantum Protection for $0.07 Without Hard Fork
Ethereum Foundation's Kohaku lead proposes SPHINCS- to protect ETH accounts from quantum attacks for just $0.07, without a hard fork. Full analysis.
InstitutionalDigital Asset Raises $355M: a16z and ADIA Back Canton Network
Digital Asset raised $355M in an a16z-led round at a $2B valuation. Canton Network is already being piloted by Goldman Sachs, BNY Mellon, and BNP Paribas.
TechnologyAI Agents With Crypto Wallets Could Become Unstoppable: IC3 Warning
IC3 researchers warn that AI agents with crypto wallet access could become unstoppable through self-replication. What are UAAs and what safeguards are needed.
SecurityKelp DAO Hacker Launders $220M via Tornado Cash in Six Weeks
The Kelp DAO hacker laundered $220 million via Wasabi and Tornado Cash in 6 weeks. Only $1.7M remains traceable as $71M sits frozen in a New York court.
AltcoinsCardano Foundation Cancels Cardano Summit 2026 After Failed Governance Vote
Cardano Foundation canceled Cardano Summit 2026 after a funding vote won 65.2%, short of the 66.67% threshold. Second failure in two months.