Daily Archives: March 26, 2025

Blockchain applications hit $2.6 billion revenue amid volatile market conditions

Blockchain-based applications generated over $2.6 billion in revenue in the first quarter of 2025, according to Grayscale’s latest crypto sector report. This figure represents a 99% year-over-year increase, signaling rising demand for on-chain services despite volatile market conditions that impacted the industry. Blockchain App Revenue (Source: Grayscale) According to the report, smart contract platforms experienced…

House introduces revised stablecoin legislation with compliance measures and developer protection

The US House of Representatives introduced an updated version of the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act on March 26, substantially revising the February 5 draft.  The legislation aims to regulate payment stablecoins, introduce new compliance mechanisms, expand oversight powers, and clarify key definitions governing the issuance and use of…

GMX Defends Contracts After $13 Million Loss Tied to Abracadabra’s Cauldron Exploit

Prominent blockchain security firm PeckShield reported an exploit involving the GMX decentralized exchange (DEX), which has brought attention to vulnerabilities within the Abracadabra (Spell) ecosystem. The incident, tied to Abracadabra’s cauldrons – smart contracts that facilitate DeFi operations like lending, borrowing, and liquidity provision – led to the theft of approximately 6,260 Ethereum, worth roughly…

Kidnapped Binance Exec Tigran Gambaryan Receives First Ever Hero Award At DC Blockchain Summit

Key Takeaways: A Binance executive faced harsh conditions during an overseas detention. His summit accolade invites reflection on the personal cost of global crypto work. The incident spurs debate over safeguarding crypto teams in unstable areas. Political and industry responses add complexity to the unfolding story. Tigran Gambaryan, the Binance executive detained in Nigeria in…

Unicoin CEO: Why Are We Still Under the SEC’s Gun?

WASHINGTON, D.C. — Unicoin CEO Alex Konanykhin said he’s asked the U.S. Securities and Exchange Commission to pull its investigation against the crypto operation and hasn’t yet received a response. Unicoin represented a final shot against the industry from previous Chair Gary Gensler’s SEC, which informed the firm in an official notice late last year…

Pi Network’s native token falls 73% from ATH amid rising supply

Pi Network’s native token PI has crashed roughly 73% less than one month after reaching its all-time high at $2.99 on Feb. 26. As of press time, Pi was trading at $0.81, inching closer to its $0.70 launch price on Feb. 20. The performance is significantly below the crypto market average performance in the same…

U.S. House Stablecoin Bill Goes Live in Flurry of Crypto Activity on Capitol Hill

The U.S. Congress’ opening priority for the crypto industry is to quickly finish a stablecoin oversight bill, and the House of Representatives has released the text of its version on Wednesday, following in the heels of a recent committee approval of its Senate counterpart. The House version, introduced by Rep. Bryan Steil, who leads the…

The Protocol: Ethereum’s Final Pectra Test Goes Live

Welcome to The Protocol, CoinDesk’s weekly wrap-up of the most important stories in cryptocurrency tech development. I’m Ben Schiller. In this issue: Ethereum’s Final Pectra Test Goes Live Hyperliquid Eases Token Transfers for DeFi Celo Migration to Layer-2 Network Is Done Bitcoin DeFi Expansion Faces Fork Dilemma This article is featured in the latest issue…

GameStop unveils $1.3B notes offering to fund Bitcoin acquisition, corporate expansion

GameStop is planning a private offering of $1.3 billion in convertible senior notes to fund general corporate purposes and Bitcoin (BTC) purchases for its treasury, according to a March 26 announcement.  The announcement follows GameStop’s March 25 disclosure of an updated treasury strategy that will include digital assets. While the company did not disclose the…

Wyoming unveils first state-issued stablecoin called WYST, set to launch in July

The State of Wyoming has officially begun testing its state-issued stablecoin, called the Wyoming Stable Token (WYST), across several blockchain networks. This is potentially the first fiat-backed and fully reserved stablecoin issued by a US public entity. The announcement was made on March 26, with Wyoming officials sharing more details during a fireside chat at…