Bitcoin avoids major volatility after the first of the week's two key US inflation reports, while a trader sees a "new upwards leg" coming for BTC price action. Bitcoin (BTC) circled $71,000 at Thursday’s Wall Street open after US inflation data conformed to expectations. Key points: Bitcoin waits for new catalysts as US PCE inflation data conforms to market expectations. Read more
Hyperliquid data showed a 145 million Fartcoin position unwound across wallets, with the platform redistributing about $849,000 in gains to opposing traders. A trader lost about $3 million after building a large leveraged Fartcoin position on Hyperliquid that unraveled in thin liquidity, triggering the platform’s auto-deleveraging (ADL) mechanism. Hyperliquid data flagged by Lookonchain shows that the trader accumulated about 145 million tokens across multiple wallets before being liquidated. The liquidation redistributed gains to opposing traders, with at least two wallets seeing around $849,000 through ADL. PeckShield said the unwind produced about $3 million in accounting losses and left Hyperliquid’s HLP vault down roughly $1.5 million over 24 hours, though Hyperliquid had not publicly confirmed those figures by publication. Read more
The US Justice Department and commodities regulator asked a federal court to block Arizona’s action against Kalshi, arguing federally regulated event contracts fall under CFTC jurisdiction. The US Department of Justice (DOJ) and Commodities and Futures Trading Commission (CFTC) asked a federal court to block Arizona from enforcing state gambling law against Kalshi’s event contracts, arguing that they fall under the CFTC’s exclusive authority over swaps markets. The Wednesday filing argues that event contracts listed on federally regulated platforms such as Kalshi are swaps under the Commodity Exchange Act and therefore fall within the CFTC’s exclusive jurisdiction. The filing says Arizona’s enforcement effort unlawfully intrudes on the CFTC’s exclusive jurisdiction over federally regulated event-contract markets. Read more
North Korea’s crypto playbook now spans fake developers, conference contacts and major DeFi exploits reaching deep across the industry. This month’s $285 million exploit on Drift, a decentralized exchange (DEX), was the largest crypto hack in over a year, when exchange Bybit lost $1.4 billion. North Korean state-backed hackers were named as prime suspects in both attacks. This past autumn, attackers posed as a quantitative trading firm and approached Drift’s protocol team in person at a major crypto conference, said Drift in an X post Sunday. “It is now understood that this appears to be a targeted approach, where individuals from this group continued to deliberately seek out and engage specific Drift contributors, in person, at multiple major industry conferences in multiple countries over the following six months,” said the DEX. Read more
Bitcoin Depot said a hacker stole 50.9 BTC, worth about $3.7 million, after gaining access to internal systems linked to corporate wallets. Crypto ATM operator Bitcoin Depot said it lost 50.9 Bitcoin, worth about $3.7 million, after a hacker gained access to some of its internal systems. The breach happened on March 23 after the attacker took control of credentials linked to Bitcoin Depot’s corporate Bitcoin (BTC) wallets, according to a Monday filing with the US Securities and Exchange Commission. The company said that customer accounts, platforms and personal data were not affected. Bitcoin Depot added that the attack has not had a major impact on daily operations, and said it has insurance that may cover some of the losses. “As the investigation of the incident is ongoing, the full scope, nature and impact of the incident are not yet completely known,” the filing said. Read more