Drift hack recovery opened near one cent per dollar lost

Drift Protocol opened claims and redemptions for its DFX recovery token on Oct. 1, giving victims of its April exploit a way to receive the USDT stablecoin from the Recovery Pool. The exit has a permanent tradeoff: redeemed tokens are burned and no longer share in future deposits.  Related Asset Tether USDT · Stablecoin  In its launch announcement, Drift described a payout of about 0.0104 USDT per DFX from a pool holding roughly 3.1 million USDT. Because victims receive one DFX for each USDT of verified loss, that launch rate represented about 1.04% of the corresponding loss. Those are Oct. 1 figures; a redemption pays the rate quoted when the transaction is made.  DFX is a transferable token on Solana, separate from the DRIFT governance token. Drift sets its fixed allocation at 299,500,810.998 DFX, corresponding to nearly 299.5 million USDT of verified losses. Outstanding supply falls as tokens are burned.  Related Asset Solana SOL · $121.73 24-hour change: up 1.61%  What redemption gives up  The USDT payment and DFX burn happen in one transaction: either both succeed or neither does. Drift says completed redemptions are final. If a holder redeems only part of their DFX, the tokens they keep continue participating in the pool.  Future deposits are

3 دن پہلےانڈسٹری

Trump taps intel chief Jay Clayton to lead new Super Intelligence Force

President Donald Trump has named Jay Clayton, US director of national intelligence, to lead the countrys new Super Intelligence Force, according to a post on Truth Social on Sunday.  The announcement followed media reports on Friday of the appointment. Cointelegraph reported Sept. 20 that Trump planned to create an “AI Force” modeled after the Space Force and appoint an artificial intelligence czar.  “The Super Intelligence Force is tasked with coordinating the effort of the Federal Government to ensure that America continues to lead the World in Super Intelligence,” Trump wrote in his post.  He added that joining Clayton will be Andrew Ferguson, chairman of the Federal Trade Commission; Scott Kupor, director of the Office of Personnel Management; and, Emil Michael, under Secretary of War for Research and Engineering and chief technology officer for the Department of War.Source: Truth Social - @realDonaldTrump  Clayton led the Securities and Exchange Commission during Trumps first term, served as interim US Attorney for the Southern District of New York and is expected to also remain in his current role as director of national intelligence, sources told CNN, according to Friday reports.  The Senate confirmed Clayton in July to lead the intelligence community.

3 دن پہلےانڈسٹری

El Salvador receives $138 million from IMF after Bitcoin waivers granted

The International Monetary Fund approved the immediate disbursement of about $138 million to El Salvador under the countrys $1.4 billion financing program, despite some performance criteria being missed.  The IMF‘s Executive Board completed the second and third reviews under El Salvador’s 40-month Extended Fund Facility (EFF) arrangement on Thursday, it said in a press release.  While certain performance criteria were not met, including on the Bitcoin accumulation front, the IMF granted waivers “based on strong corrective measures and renewed commitments.”  The agency noted that El Salvador has made progress in financial sector reforms, fiscal transparency, AML/CFT reforms and the transfer of majority ownership and control of the government Chivo Bitcoin wallet to a private operator.  “Efforts will continue to reduce the states involvement in Bitcoin-related activities, strengthen crypto‑asset regulation and governance, and enhance transparency regarding public-sector crypto‑asset holdings,” the IMF said, adding: “No further Bitcoin accumulation is envisaged beyond the documented donations.”  Related: El Salvadors post-review Bitcoin accumulation used no public funds: IMF  Cointelegraph reported on Sept. 4 that El Salvador used no public resources to accumulate Bitcoin after the first review of its IMF financing program in June 2025, according to the lender.  The IMF said documents supplied by Salvadoran authorities verified that the accumulation came

3 دن پہلےانڈسٹری

CONNECT recap: Arthur Hayes on money printing, Wall Street moves onchain

US policymakers could lift cryptocurrency prices by printing more money to support AI and finance government debt, according to Arthur Hayes, chief investment officer at Maelstrom fund.  AI companies need trillions of dollars to finance data centers even as the prices of their services fall, Hayes said at a fireside chat at CONNECT by Cointelegraph: Seoul Edition, on Tuesday during Korea Blockchain Week.  “Theyve not really given themselves a lot of options other than print money and make it less bad,” he said.  BitMEX co-founder Arthur Hayes speaking at CONNECT by Cointelegraph: Seoul Edition.  Hayes also discussed a possible shift in China from what he called an “austerity lite” policy to substantial monetary stimulus, which he said could revive demand for scarce assets.  Related: AI credit bubble could fuel Bitcoin ‘crack-up boom’ past $1M: Hayes  In Europe, he said he was monitoring financial stress in France, including credit-default swaps tied to BNP Paribas and French government bond spreads.  I think the money printing will essentially happen at some point, but thats sort of a slow motion train wreck happening underneath the surface.  Cointelegraphs CONNECT event in Seoul featured panels on topics ranging from traditional finances shift onchain to stablecoins and corporate crypto treasuries.  Wall Streets move onchain leaves room

3 دن پہلےانڈسٹری

Vitalik-inspired AI payment system can send expired deposits to its treasury

The Ethereum Foundations Oct. 1 announcement that zkAPI is running on mainnet gives the private AI-payment design coauthored by Davide Crapis and Vitalik Buterin a concrete financial-control test: how does a user get unspent money back when the billing server stops cooperating?  zkAPI, a billing system for metered APIs, documents an onchain withdrawal route that does not require the servers clearance. But a users ability to recover a balance depends on which spending state they hold and whether they can start an exit in time. The implementations pause powers and expiring notes put boundaries around that control.  Open Anonymity built the implementation with the Ethereum Foundation. Crapis and Buterin published the underlying design on Feb. 11; the foundations October announcement credits the team that turned it into software and contracts. Etherscan records the announcement-linked vaults creation on Sept. 30, a day before the announcement.  Related Asset Ethereum ETH · $2,701.66 24-hour change: up 0.77%  The announcement describes its linked vault as holding USDC credits. The current mainnet manifest identifies that same vault as native ETH, with balances accounted for in whole gwei. Its explorer activity also shows ETH-valued deposits and close payouts.  Related Company Ethereum Foundation Promotes and supports the Ethereum platform  CryptoSlates February coverage examined

3 دن پہلےانڈسٹری

Lidos proposed staking route needs over 13 times the default entry bond

Lido‘s proposed route for running larger Ethereum validators would require a 32 ETH entry bond, compared with 2.4 ETH for its existing default route. That higher collateral can become more efficient once enough stake is allocated to the validator, but an operator’s profile and place in the funding queue determine how useful the advantage is.  Related Asset Ethereum #2 ETH · $2,698.50 24-hour change: up 0.66% Loading price history… 24H Up 0.66% 7D Up 0.36% 30D Up 9.91%  The October 1 deployment plan outlines Community Staking Module 0x02, a separate module for permissionless operators alongside the existing 0x01 route. It would support compounding validators with up to 2,048 ETH of effective stake, compared with 32 ETH for existing-route validators. Each validator is identified by a key.  The route remains on Hoodi testnet, with mainnet expected in Q4 2026. The deployment post describes preparations for mainnet and puts the modules Staking Router parameters to a later vote. The July 20 approval of the launch proposal and September 1 testnet announcement were earlier milestones, rather than mainnet activation.  Related Company Lido Liquidity for staked assets  Measured as operator fees per ETH bonded, the new route reaches parity with a first existing default key near 747 ETH under

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Bitcoin Enters October With 4 Problems That Could Show On Charts

Bitcoin (BTC) enters a historically strong month facing four pressures. Thin liquidity, weaker ETF demand, the Iran war, and a Mt. Gox deadline weigh on it.  The largest cryptocurrency has closed higher in 10 of the last 13 Octobers, with a median gain of 12.73%, Coinglass data shows. So far this month, BTC is up 1.98%  Bitcoin (BTC) Monthly Price Returns. Source: Coinglass  Sponsored  Sponsored  Stablecoin Supply Is Refilling But Slowly  Analyst Darkfost said too little liquidity is reaching the crypto market. The stablecoin market cap has lost $14 billion since May, pointing to sizable outflows.  Supply has recovered $4 billion since September, lifting the total to about $270 billion. Still, Darkfost called the rebound too timid to push Bitcoin to new highs.  “Even though the trend now appears to be reversing, it remains too timid, and more will be needed to push Bitcoin toward new highs,” he wrote.  Stablecoin Market Cap. Source: X/Darkfost  Large holders are adding capital, though cautiously. Wallets sending over $1 million in stablecoins to Binance lifted their 30-day inflows to $30.5 billion. A little over a month earlier, the figure stood at $21.7 billion.  That marks a rise of over 40%. However, the same group sent more than $61 billion at its October 2025 peak, nearly

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Top 5 Companies To Watch For Investors in Q4 2026

The biggest IPO in history, a memory-maker up 277% this year, and an Ethereum treasury closing in on 5% of supply are set to define this quarter. These 5 companies across AI and crypto carry the stories investors will follow through December.  1. Anthropic  Anthropic, the company behind Claude AI, filed to go public in the US after its last funding round was valued at $965 billion. Recently, its prospectus gave investors a look at the numbers behind the company.  Sponsored  SponsoredRevenue increased 12x to nearly $4.6 billion by the end of 2025Net loss also increased to $42 billionThe company is committing $518 billion to computing infrastructure over the next decade.A quarter of its revenue comes from only two unnamed customers.  Anthropic is likely to be the biggest and most highly anticipated IPO in stock market history. However, the risks are hard to ignore. The companys whole financial bet is based on how AI continues to develop and is perceived over the next decade.  BREAKING: Anthropic is seeking to IPO as soon as the middle of November, per Bloomberg.  The company could start formal marketing for its IPO as soon as the week of November 9th, putting it in-line to begin trading before Thanksgiving.  Anthropics valuation is now

1 ہفتوں کے اندرانڈسٹری

Crypto poured years into new products. The next challenge is keeping users

The crypto industry has spent years building infrastructure for financial products and putting novel creations on top of those rails. Now comes the harder part: getting people to actually use these products.  That question is becoming more pressing across the industry as crypto moves closer to mainstream finance. Asset managers have tokenized funds, exchanges are expanding into lending, payments and other financial services and blockchain networks are courting institutions. The challenge is no longer just proving these products can be built, but figuring out what will make consumers and institutions choose to use them.  For companies like Coinbase (COIN), that has meant thinking less about the technology itself and more about what customers are trying to do with their money.  “The crypto industry oftentimes in the past was very technology oriented,” said Ben Shen, Coinbases head of financial services and loyalty products. Products could be heavy on jargon or expose users to the technology running underneath them.  That matters less as crypto starts to overlap with more traditional financial services, he said. Customers want to grow their money, hold it, send it, spend it or borrow against it. Whether a blockchain sits underneath the product isnt necessarily the point.  Instead, Coinbase is looking for what

1 ہفتوں کے اندر

Michael Saylors Strategy hints at another big Bitcoin buy

Michael Saylor has renewed speculation on Oct. 4 that Strategy may have bought more Bitcoin after posting a new accumulation chart, with the companys last confirmed holdings at 847,666 BTC.  SummaryStrategy holds 847,666 BTC after buying 1,665 coins for $142.7 million during the latest week.Saylors October 4 post hinted at further buying but did not confirm another Bitcoin purchase.Strategys latest SEC filing shows $18.84 billion of MSTR shares remained available for future issuance.U.S. spot Bitcoin ETF holdings have increased by roughly 88,000 BTC since July, CryptoQuant reports.Bitcoin trades near $85,250, leaving Strategys $75,437 average acquisition cost below the current market price.  Strategys Sept. 28 SEC filing shows that its latest confirmed purchase covered 1,665 BTC acquired for $142.7 million between Sept. 21 and Sept. 27. The company paid an average of $85,681 per coin, taking its total holdings to 847,666 BTC acquired for $63.95 billion.  Saylor posted the words “More orange than ever” alongside Strategys Bitcoin purchase chart on Sunday. The message did not disclose a purchase amount, transaction date or price, meaning it does not by itself confirm another acquisition.  More orange than ever. pic.twitter.com/on52TtcFO1  — Michael Saylor (@saylor) October 4, 2026  You might also like:  Michael Saylor says Strategy and Strive can grow together  Strategys latest

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