SEC commissioner Hester Peirce echoed former chair Gary Gensler in calling for market participants to “consider meeting with the Commission and its staff.” US Securities and Exchange Commission (SEC) member Hester Peirce issued a blanket warning for companies considering distributing and trading tokenized securities. In a Wednesday statement, Peirce called on companies to discuss their potential tokenized offerings with SEC officials amid “new entrants and many traditional firms [...] embracing onchain products.” Though the SEC commissioner, who also heads the agency’s crypto task force, did not explicitly mention trading platform Robinhood, her notice came roughly two weeks after the company launched a tokenization-focused layer-2 blockchain. Read more
XRP charts point to new highs. Will Ripple’s attendance in next week’s “From Wall Street to Web3” summit boost the altcoin’s price? Key point: XRP will complete a bullish pattern on a break above $2.34, which could propel the price toward new highs. Lawmakers with the US Senate Banking Committee will conduct a hearing on Wednesday titled “From Wall Street to Web3: Building Tomorrow’s Digital Asset Markets,” and Ripple CEO Brad Garlinghouse is one of the participants. Read more
The exploit of the GMX V1 decentralized exchange is the latest in a string of attacks targeting crypto firms and users in 2025. The GMX protocol halted trading on GMX V1 after a liquidity pool suffered an exploit on Wednesday, leading to $40 million in funds being stolen and sent to an unknown wallet. GMX V1 is the first version of the GMX perpetual exchange deployed on the Arbitrum network. The attacked pool is a liquidity provider for the GMX protocol with a basket of underlying digital assets including Bitcoin (BTC), Ether (ETH) and stablecoins, according to the GMX team. The protocol has also announced a temporary suspension in minting and redemption of GLP tokens on both Arbitrum and the layer-1 Avalanche network to protect against any additional fallout from the cybersecurity exploit. Read more