“Pure play” digital asset treasury companies will have to contend with volatility tied to the net asset value of their token holdings if they don’t build successful business ventures. The rise of digital asset treasury (DAT) companies will go down as a meta-narrative of 2025, but the longevity of the movement will be decided by capital management and sound business strategies. According to Solmate CEO Marco Santori, all DATs have to contend with the value of the underlying token they hold on their balance sheets. This shouldn’t be a problem for revenue-generating businesses, but pure-play DATs will be in for a bumpy ride. In the Solana ecosystem, Santori sees a unique opportunity to offer bare-metal validator services, given that the protocol was uniquely designed for high-throughput services like exchanges and trading platforms. Read more
Forensic analysis suggests an attacker took control of a whale’s multisig wallet minutes after creation and has been slowly draining funds since. A crypto attacker apparently took over a whale’s multisig wallet minutes after it was created 44 days ago, and has been draining and laundering funds in stages since. In a Thursday post on X, blockchain security firm PeckShield reported that a whale’s multisig wallet had been drained of roughly $27.3 million due to a private key compromise. PeckShield noted that the attacker has laundered about $12.6 million, or 4,100 Ether (ETH), through Tornado Cash and retained around $2 million in liquid assets, while also controlling a leveraged long position on Aave (AAVE). However, new findings from Yehor Rudytsia, head of forensic at Hacken Extractor, indicate the total losses may exceed $40 million and that the incident likely began much earlier, with first signs of theft dating back as far as Nov. 4. Read more
Three major incidents accounted for the majority of crypto losses in 2025, while upgraded security across DeFi protocols managed to keep hackers at bay, according to Chainalysis. Crypto hackers focused on large crypto entities and personal crypto wallets this year, resulting in $3.4 billion in crypto losses in 2025 — the highest figure since 2022. Just three hacks in 2025, led by the $1.4 billion hack of crypto exchange Bybit, accounted for 69% of all losses from January through to early December, a Chainalysis report released on Thursday found, with the largest attacks a thousand times larger than the typical incident. Andrew Fierman, the head of national security intelligence at Chainalysis, told Cointelegraph that while massive attacks drove this year’s uptick in losses, it’s unclear if 2026 will unfold in the same way. Read more
The rollout provides Telegram users with access to tokenized US stocks via a self-custodial wallet, but it will not be available in the US at launch. Kraken-backed tokenized securities platform xStocks is launching on TON Wallet, a self-custodial wallet on the Telegram messenger. Following an initial rollout on Wallet in Telegram, xStocks is now live on TON Wallet, marking the offering’s official launch on Telegram-linked blockchain, The Open Network (TON), Kraken announced Thursday. “Launching xStocks on TON brings tokenized equities onto truly open infrastructure,” Kraken co-CEO Arjun Sethi said in the announcement, adding that the launch marks the first time for Telegram users to access tokenized US equities onchain. Read more