Bitcoin Climbs to Two-Month High Amid Middle East Deal Optimism
Markets
”Bitcoin rose to the highest level since early February after a flurry of comments from the US and Iran sparked optimism that the conflict in the Middle East may be heading toward a resolution. The original cryptocurrency broke through the higher bound of the narrow range its been trading in since the war broke out in late February, topping $78,000 for the first time since Feb. 3. Bitcoin rose as much as 4.1% to $78,343, before paring the increase. Other digital assets also pushed higher, with Either strengthening 3.3% and XRP increasing 2.4% as part of a broader risk-on rally. Equities climbed after Iran announced that the Strait of Hormuz is now 'completely open' for commercial traffic, prompting traders to take on more risk. Oil and the dollar tumbled.”
Source: Bloomberg
French Finance Minister Calls For More Euro-pegged Stablecoins
Stablecoins
“Europe needs more euro-based stablecoins, French Finance Minister Roland Lescure said on Friday, and urged the bloc's banks to explore tokenised deposits to help end U.S. dominance in digital payments. In pre-recorded comments at a crypto conference in Paris, Lescure said the relatively small volume of euro-pegged stablecoins compared to dollar-pegged ones was 'not satisfactory'. Banks worldwide are experimenting with stablecoins, a type of cryptocurrency designed to maintain a constant value and backed by traditional currencies. Several have joined forces to trial the technology, especially since U.S. President Donald Trump last year signed a law establishing rules for stablecoins.”
Source: Reuters
The $292 Million Kelp Exploit: How it Happened, And What it Means For DeFi
Security
“A roughly $292 million exploit over the weekend has rattled the crypto industry, exposing vulnerabilities in decentralized finance infrastructure and raising concerns about knock-on effects across lending protocols. While investigations are still ongoing, early analysis suggests the attack centered on Kelp’s rsETH token — a yield-bearing version of ether (ETH) — and the mechanism used to move assets between blockchains. The attacker appears to have manipulated that system to create large amounts of tokens without proper backing, then quickly used them as collateral to borrow and drain real assets from lending markets, mostly from Aave, the largest decentralized crypto lender.”
Source: CoinDesk
Kraken Parent Payward Agrees to Acquire Bitnomial For up to $550 Million
Acquisitions
“Payward, the parent company of crypto exchange Kraken, has agreed to acquire Bitnomial for up to $550 million in cash and stock, giving the firm a fully CFTC-licensed foothold in the U.S. derivatives market. The transaction values Payward’s equity at $20 billion and is expected to close in the first half of 2026, a Friday announcement disclosed. The deal is still subject to Commodity Futures Trading Commission approval. Bitnomial is a Chicago-based crypto-native exchange that holds the three CFTC-issued licenses needed to run a full-stack domestic digital asset derivatives business, including a designated contract market, a derivatives clearing organization, and a futures commission merchant.”
Source: The Block
Circle Rolls Out USDC Bridge For Native Cross-chain Stablecoin Transfers
Stablecoins
“Stablecoin issuer Circle has unveiled a new way to move USDC cross-chain, called USDC Bridge. The company called it a 'predictable, transparent way to move USDC,' in an X post on Friday. USDC Bridge is Circle’s official, native cross-chain bridging solution powered by its Cross-Chain Transfer Protocol (CCTP) that will enable native USDC, rather than wrapped or synthetic versions, to move between blockchains using a 1:1 burn-and-mint process. The announcement notes that there will be 'clear fees upfront' and progress updates on transfers. A reporter for The Block connected their wallet to the service and found it would cost about $0.20 to move $20 worth of USDC from the Ethereum mainnet to Optimism, though fees appear to vary by transaction setup.”
Source: The Block
