Hyperliquid generated $1.7M in network fees over the past 24 hours, ranking first among blockchain networks, while TRON followed with $1M in fees. High fee volumes typically indicate strong network activity and transaction throughput. Fee rankings reflect both user adoption and the frequency of on-chain transactions across different platforms.
Archives: Fast News
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Florida passes first state-level stablecoin bill
Florida’s Senate Bill 314 establishes a regulatory framework for payment stablecoin issuers operating in the state, aligning with federal standards outlined in the GENIUS Act. The legislation marks the first state-level stablecoin framework in the US, potentially setting a precedent for other states. Market participants are monitoring how this framework interacts with ongoing federal cryptocurrency regulation.
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Bitcoin sees recovery amid DeFi challenges as Aave dispute deepens
After geopolitical concerns led Bitcoin to drop to 63,245 USD, it has rebounded to 73,000 USD this week, driven by strong inflows into Bitcoin exchange-traded funds with 1.1 billion USD in weekly net inflows.
Aave is facing significant challenges due to governance disputes, and the Aave Chan Initiative plans to cease its involvement within four months, impacting the DeFi landscape.
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CFO sentenced to prison after losing $35 million in crypto venture
A company CFO has been sentenced to prison after secretly transferring $35 million in company funds to a personal DeFi platform, where nearly all the money was lost during the Terra collapse. The case highlights risks associated with unauthorized use of corporate assets in cryptocurrency ventures. Prosecutors presented evidence of the unauthorized transfer and subsequent losses that depleted the misappropriated funds.
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CFO sentenced to two years in prison for misappropriating 35 million USD in cryptocurrency scheme
Nevin Shetty, 42, was sentenced for wire fraud after secretly moving 35 million USD from his employer to his DeFi platform, HighTower Treasury, before losing nearly all due to the Terra collapse.
His fraudulent activities resulted in severe consequences for his employer, including the layoffs of 60 employees and a devastating impact on the company’s stability, as noted by Judge Tana Lin.
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Tether investor’s UK political donations exceed $16 million
A major Tether investor has donated over $16 million to a UK political party backing pro-crypto policies as the country develops its cryptocurrency regulatory framework. The UK is finalizing its broader crypto rulebook, with firms like Coinbase urging regulators to implement flexible stablecoin policies rather than restrictive ones. The donations highlight the ongoing influence of major crypto stakeholders in shaping policy discussions during the UK’s regulatory development process.
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Bitcoin rebounds amid stablecoin inflows as Aave faces governance challenges
Bitcoin recovered this week as stablecoin inflows increased, signaling renewed market participation. Meanwhile, the DeFi sector experienced mounting pressures, with Aave navigating governance disputes, security exploits, and exchange settlement issues that have strained the protocol’s ecosystem.
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96.0M USDC transferred to Coinbase on Ethereum
An unknown wallet transferred 96.0M USDC (approximately 96.0M USD) to Coinbase on Ethereum, representing 0.124% of USDC’s total market capitalization. The transfer to a major exchange may signal potential selling pressure.
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Vancouver abandons bitcoin-friendly city initiative
Vancouver has decided to abandon a proposal to make the city bitcoin-friendly, including plans to hold BTC as part of its municipal reserves. Vancouver Mayor Ken Sim had championed the initiative, but city officials determined that local bylaws prohibit the municipal government from holding Bitcoin as an investment asset. Meanwhile, Ljubljana, Slovenia’s capital, has gained recognition as a crypto-friendly city with over 150 crypto ATMs and numerous businesses accepting crypto payments. However, Slovenia introduced a 25% tax on personal crypto gains starting in 2026, which some observers say could slow innovation and adoption in the region.
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Coinbase Prime expands with unified cross margin for spot and derivatives
Coinbase Prime, the exchange’s institutional prime brokerage service, now offers unified cross margin functionality spanning spot trading, derivatives, and regulated perpetuals. The expansion includes 24/7 access to over 20 futures contracts through Coinbase Financial Markets, allowing institutional clients to manage collateral more efficiently across multiple trading venues.