The fund, to be run by Arthur Hayes and two associates, reportedly plans to use $40 million to $75 million for each acquisition of up to six crypto companies. Maelstrom, the family office connected to BitMEX co-founder Arthur Hayes, is reportedly looking to raise $250 million for a private equity fund aimed at acquiring crypto companies. According to a Bloomberg report on Friday, the fund plans to use $40 million to $75 million for each acquisition of as many as six crypto companies, with funding expected to be completed by September 2026. Maelstrom will reportedly focus on companies offering trading infrastructure and analytics platforms. Maelstrom co-founder and managing partner Akshat Vaidya reportedly said investors in the fund “want exposure to the high-cash flow, high-growth crypto sector but lack the capabilities in-house to do this themselves.” Vaidya will reportedly run the fund with Hayes and Adam Schlegel, a new partner at Maelstrom. Read more
Ether’s price rebound potential hinges on improving US credit and labor data, as traders show caution after recent liquidations and volatility in derivatives markets. Key takeaways: ETH futures premium shows traders are staying cautious and avoiding heavy leverage even as banking stocks rebound from recent credit concerns. Ether whale activity near $3,700 suggests limited bearish conviction, though confidence in a swift recovery toward $4,500 remains subdued. Read more
In a letter to the US regulator, Ondo argued that Nasdaq’s plan relies on undisclosed settlement details that could favor big players. Ondo Finance urged the US Securities and Exchange Commission (SEC) to delay or reject Nasdaq’s proposal to trade tokenized securities, saying it lacks transparency and could give established market players an unfair edge. In a Wednesday letter to the regulator, Ondo — a blockchain company that issues tokenized versions of traditional assets — said regulators and investors can’t fairly evaluate Nasdaq’s proposal without public details on how the Depository Trust Company (DTC) will handle blockchain settlements. DTC serves as the main depository for US securities and facilitates their post-trade settlement. While acknowledging support of Nasdaq’s move toward tokenization, Ondo warned that “Nasdaq’s reference to non-public information implies differential access that deprives other firms of a fair opportunity to comment.” Read more
"EtherHiding" deploys in two phases by compromising a website, which then communicates with malicious code embedded in a smart contract. North Korean hackers have adopted a method of deploying malware designed to steal crypto and sensitive information by embedding malicious code into smart contracts on public blockchain networks, according to Google’s Threat Intelligence Group. The technique, called “EtherHiding,” emerged in 2023 and is typically used in conjunction with social engineering techniques, such as reaching out to victims with fake employment offers and high-profile interviews, directing users to malicious websites or links, according to Google. Hackers will take control of a legitimate website address through a Loader Script and embed JavaScript code into the website, triggering a separate malicious code package in a smart contract designed to steal funds and data once the user interacts with the compromised site. Read more
Bitcoin fell below $105,000 as US banking stress rattled risk markets, but stronger-than-expected regional bank earnings helped ease investor fears. Will the BTC uptrend resume any time soon? Key takeaways: Bitcoin price stabilized after US regional banks posted stronger-than-expected earnings, easing credit fears. One analyst predicted Bitcoin’s bull run could end in 10 days. Read more