Edgen Crypto·Nov 06 2025, 13:24
[1] Coinbase Exchange Settles With Ireland Over Transaction Monitoring Errors (https://cointelegraph.com/news/coinbase-settl ...)[2] Coinbase settles $24.7M fine in Ireland over transaction monitoring failures - TradingView (https://vertexaisearch.cloud.google.com/groun ...)[3] Coinbase to pay $100M in settlement over lax customer monitoring | Banking Dive (https://vertexaisearch.cloud.google.com/groun ...)
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Nov 06 2025, 16:07
Crypto Markets Exhibit Divergent Trends with ICP Surging and ZKsync Correcting
## Executive Summary The cryptocurrency market demonstrated diverse movements, with **Internet Computer (ICP)** experiencing a significant 28.29% surge, while **ZKsync (ZK)** recorded a 15.54% decline, alongside notable gains for **Tezos (XTZ)** and **Zcash (ZEC)**, and a downturn for **Pump.fun (PUMP)**. ## The Event in Detail **Internet Computer (ICP)** emerged as a leading performer, climbing by 28.29% to reach a price of $6.57. This daily increase contributed to a broader market capitalization growth of over $1 billion for ICP since the beginning of the month. **Tezos (XTZ)** also registered a substantial gain, increasing by 16.62% to $0.6238. **Zcash (ZEC)** advanced by 7.78% to $520.76, marking its first breach of the $500 psychological barrier since January 2018. This rally follows a 250% increase over the past month and an impressive 1,600% surge from its year-to-date low. Concurrently, Zcash's trading volume expanded from $560 million to over $1.75 billion, with shielded **ZEC** tokens now accounting for more than 30% of the total supply, valued at over $2.56 billion. In contrast, **ZKsync (ZK)** depreciated by 15.54% to $0.06753. This decline occurred after **ZK** previously surged by 150% in November, driven by renewed investor confidence and a 30-fold spike in trading volume. **Pump.fun (PUMP)** also saw a decrease, falling by 10.84% to $0.003756, positioned as a meme coin within the **Solana** ecosystem. ## Market Implications **ICP's** upward momentum is largely attributed to growing institutional interest and strategic technical updates from **DFINITY**, the foundation behind the protocol. Enhancements such as Caffeine AI and ICP 2.0 have reportedly improved the blockchain's speed, intelligence, and accessibility for developers and organizations. Industry observers, such as Erica Nister, suggest that significant investments, ranging from $20 million to $30 million, could enable large investors to acquire a 1% stake in what is termed the 'future Internet.' The high staking rate of approximately 50% of all **ICP** tokens further contributes to its market stability. The sustained rally in **Zcash** underscores a burgeoning demand for privacy-focused digital assets. The notable increase in shielded **ZEC** reflects a growing preference among users for enhanced transaction privacy. **ZKsync's** recent decline is widely interpreted as a short-term correction following its substantial 150% surge in November. This prior rally was fueled by factors including **Ethereum** co-founder Vitalik Buterin's endorsement of **ZKsync's** Atlas upgrade, which significantly enhances **Ethereum's** transaction speed and cost efficiency, and an early November trading volume exceeding $700 million. Analysts anticipate a healthy correction toward the $0.065 zone before a potential rebound, with some projecting a possible climb to $0.15. The ongoing monthly unlocking of 173 million **ZK** tokens, representing 34% of the total circulating supply, remains a factor influencing its price dynamics. ## Expert Commentary Analysts project a continued upward trajectory for **ICP**, with potential targets ranging from $10 to $16, signifying a possible 90% increase from current levels in an extended bullish scenario. For **ZKsync**, while a correction to the $0.065 zone is expected by analysts such as trader LaCryptoLycus, a subsequent climb of 135% to $0.15 is considered feasible. However, reclaiming its all-time high of $0.27 would require a further 250% increase. ## Broader Context The divergent performance among leading cryptocurrencies illustrates a mixed market sentiment. While certain assets like **ICP** and **ZEC** benefit from specific catalysts such as institutional adoption and privacy demands, others like **ZK** experience post-rally corrections. The broader landscape of digital assets continues to evolve, as highlighted by Standard Chartered CEO Bill Winters, who posited that nearly all global transactions will eventually leverage blockchain technology and all currencies will undergo digitization. This includes the potential for Hong Kong dollar stablecoins to facilitate cross-border digital trade. Winters also forecasts that the asset tokenization wave will instigate fundamental shifts in market structures, with projections for tokenized money market funds and publicly traded stocks to reach a market capitalization of $750 billion by 2028.
Nov 06 2025, 15:26
RedStone Launches Credora DeFi Risk Ratings Following $20 Billion Crypto Liquidations
## Executive Summary Modular oracle network RedStone has launched Credora, a decentralized finance (DeFi)-native risk ratings platform, aiming to enhance transparency and credit analytics for lending protocols following a recent $20 billion crypto market liquidation event. ## The Event in Detail RedStone, a modular oracle network, announced the launch of Credora, a DeFi-native risk ratings platform. This initiative seeks to introduce enhanced transparency and credit analytics to decentralized lending protocols. Credora by RedStone integrates directly with prominent DeFi lending markets, specifically **Morpho** and **Sparks**, to deliver dynamic risk scores and default-probability analytics. These analytics are accessible through a dedicated API, providing a structured approach to risk evaluation. The development of Credora follows RedStone's acquisition of Credora in September, which expanded its capabilities beyond traditional price feeds into broader credit, collateral, and risk intelligence. The platform consolidates creditworthiness data, default probabilities, and collateral analytics into a unified ratings layer. Notably, Credora's technology utilizes zero-knowledge proofs to facilitate secure credit ratings for over $1 billion in uncollateralized loans, ensuring data privacy while maintaining assessment integrity. RedStone co-founder Marcin Kaźmierczak stated that this launch represents a significant stride towards the "Low-Risk DeFi" movement, balancing yield generation with verifiable, data-driven transparency. ## Market Implications The introduction of Credora addresses a critical need for robust risk management within the DeFi ecosystem, particularly highlighted by a recent liquidation event where nearly $20 billion in crypto positions were wiped out across major exchanges like **Hyperliquid**, **Bybit**, and **Binance**. This event, described as a liquidity shock, exposed structural fragilities in crypto markets. Credora aims to mitigate such risks by providing granular insights, enabling users to compare vault and loan positions on platforms like **Morpho** by relative risk scores. This increased transparency and standardized risk assessment are anticipated to attract greater institutional investment into DeFi. Company data cited by RedStone indicates that DeFi strategies carrying a rating, such as **Morpho Vaults**, have experienced up to 25% faster growth compared to unrated counterparts, suggesting strong user demand for dependable risk signals. The integration plans include re-launching public ratings and shipping API integrations to propagate risk scores through RedStone's oracle feeds to protocols already utilizing its services. ## Expert Commentary Marcin Kaźmierczak, co-founder of RedStone, emphasized the platform's role in advancing the "Low-Risk DeFi" movement, stressing the importance of combining yield generation with verifiable, data-driven transparency. Darshan Vaidya, CEO and Co-founder of Credora, highlighted that while DeFi has innovated capital allocation, clear and reliable risk information has often been lacking for users. Credora's objective is to democratize institutional-grade risk analysis, making it accessible to individual DeFi participants. ## Broader Context RedStone's acquisition of Credora, a platform backed by notable entities such as **Coinbase Ventures**, **S&P**, and **HashKey**, signifies a strategic expansion into comprehensive risk intelligence. This move positions Credora by RedStone as an oracle-powered risk-rating framework for assets and yield strategies across decentralized finance, mirroring the functions of traditional credit rating agencies. By providing a single pipeline for real-time prices and real-time risk, the combined entity aims to offer a holistic view of market conditions. The platform will extend expanded coverage across 100 **Morpho** vaults and introduce new metrics to assess key risks, including depeg events and liquidity, offering users a clearer understanding of how different vaults operate under various market conditions.
Nov 06 2025, 15:02
Stable Pre-Deposit Error Leads to $2.34 Million Loss for Over 60 Wallets
## Executive Summary Over 60 cryptocurrency wallets collectively lost more than $2.34 million during **Stable's** second phase pre-deposit activity due to users incorrectly entering the contract address as the receiving address, impacting user confidence in the platform. ## The Event in Detail During **Stable's** second phase pre-deposit campaign, a significant error led to over 60 user wallets misdirecting funds, resulting in a total loss exceeding $2.34 million. Users mistakenly input the contract address instead of the correct receiving address for their deposits. **Stable**, a Layer 1 blockchain focused on stablecoin transactions, recently initiated its second pre-deposit campaign. This initiative allows users to deposit stablecoins, primarily **USDT**, to earn future rewards linked to the network's upcoming native token and ecosystem incentives. The first phase of this campaign saw an $825 million deposit cap reached within approximately 22 minutes. The rapid filling of Phase 1 sparked controversy, with multiple **X** users alleging front-running and "insider" participation, citing on-chain data showing large wallet clusters depositing funds prior to the official announcement. This limited retail participation and led to negative community feedback. For Phase 2, **Stable** announced measures such as a per-wallet deposit limit and individual wallet requirements to prevent large deposits from single entities, although it did not directly address the Phase 1 controversy or explicitly guarantee simultaneous access for all participants. Despite these adjustments, the recent misdirection of funds underscores persistent challenges in user interaction and communication within complex decentralized finance (DeFi) protocols. ## Market Implications The $2.34 million loss directly impacts user confidence in the **Stable** platform and raises critical questions about user error prevention mechanisms within DeFi protocols. Such incidents contribute to negative market sentiment and can deter broader adoption of new DeFi initiatives. This event occurs within a year marked by substantial losses across the crypto sector. By mid-2025, cyberattacks and scams had already cost the industry over $3.1 billion. Notable incidents include the **Balancer** exploit in November 2025, which saw over $100 million in digital assets stolen from its **V2 Composable Stable Pools** due to a rounding-error vulnerability impacting tokens like **osETH**, **WETH**, and **wstETH** across **Ethereum**, **Polygon**, and **Base**. Other significant breaches include a $1.5 billion loss by **Bybit** in Q1 and a $223 million hit in the **Cetus** exploit. Access control failures accounted for approximately 59% of funds lost, totaling $1.83 billion, while smart contract vulnerabilities contributed an additional $263 million. These figures highlight the pervasive security challenges, ranging from sophisticated exploits to fundamental user mistakes. ## Broader Context and Security Measures The ongoing series of security incidents and user-related financial losses underscores the evolving landscape of digital asset security, emphasizing the need for both technological resilience and improved user education. Industry experts consistently advocate for enhanced security and compliance measures to mitigate such risks. Recommendations include robust smart contract security practices, comprehensive risk controls, and leveraging regulatory sandboxes. Beyond standard audits, practices like formal verification and continuous code reviews are crucial. Implementing internal governance protocols to monitor unusual on-chain activities and potential exploit patterns, along with employing tools like **OpenZeppelin's SafeMath** to prevent arithmetic vulnerabilities, are considered essential for securing DeFi ecosystems. The incident with **Stable** reinforces the necessity for clear user interfaces, unambiguous instructions, and potentially built-in safeguards to prevent common user errors, alongside the more complex technical security measures.