Edgen Crypto·Nov 06 2025, 23:23
[1] Crypto Today: Google Search to Feature Prediction Markets Data (https://cointelegraph.com/news/what-happened- ...)[2] Google Integrates Polymarket, Kalshi Market Probabilities Into Search Results (https://vertexaisearch.cloud.google.com/groun ...)[3] Coinbase Urges U.S. Treasury to Exempt Blockchain Validators and Software Under GENIUS Act Rules - Coinfomania (https://vertexaisearch.cloud.google.com/groun ...)
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Nov 07 2025, 03:47
Tornado Cash Sees 4,920 ETH Withdrawal and Sale Amid Market Uncertainty
## Executive Summary An unknown entity withdrew 4,920 **ETH** from the privacy mixer **Tornado Cash**, subsequently selling the tokens for approximately $16.25 million, triggering market uncertainty regarding the transaction's origin and implications. ## The Event in Detail A wallet designated as **三新钱包** executed a withdrawal of 4,920 **Ethereum (ETH)** from the decentralized privacy mixer **Tornado Cash**. This substantial amount of **ETH** was then liquidated at an average price of $3302, resulting in an approximate total of $16.25 million. The precise identity of the entity behind this transaction remains unconfirmed, prompting market speculation. Two primary theories have emerged: the withdrawal and sale could be attributed to a malicious actor or hacker, or it could be associated with addresses linked to **Richard Heart**, the founder of **Hex (HEX)** and **PulseChain**. Prior market activity shows **Richard Heart**-linked addresses previously acquired 132,000 **ETH** using 499 million **DAI** in March 2023, at an average purchase price of $3,770 per **ETH**. Additionally, on-chain analytics firm Lookonchain reported the movement of 112,978 **ETH**, valued at approximately $366 million, to **Tornado Cash** from addresses strongly associated with **Heart**. Further, Arkham Intelligence indicated that beneficiaries of **HEX** mixed over $500 million worth of **ETH** through **Tornado Cash**, with the **SEC** alleging in a July 2023 lawsuit that **Heart** transferred $26 million in **ETH** via a crypto mixer and 50 intermediary wallets. **Heart** himself acknowledged familiarity with digital asset mixers in a 2019 video. ## Market Implications The sale of 4,920 **ETH** introduces immediate selling pressure into the **Ethereum** market. Beyond the direct price impact, the transaction intensifies concerns surrounding the use of privacy mixers like **Tornado Cash** for potentially illicit activities. This event, regardless of the actor's identity, contributes to an environment of heightened scrutiny concerning security within the decentralized finance (DeFi) ecosystem and the transparency of large-scale cryptocurrency movements. Investor sentiment may be influenced by the ongoing uncertainty regarding the source of such significant withdrawals and their potential regulatory ramifications. ## Expert Commentary Analysts provide varied long-term outlooks for **Ethereum**. **Standard Chartered** analysts, including Geoff Kendrick, forecast **ETH** could reach $14,000 by the end of 2025. This projection is underpinned by expectations of spot **ETH** Exchange-Traded Fund (ETF) approvals and network upgrades aimed at enhancing scalability and reducing transaction costs. The firm also suggested **ETH** could potentially hit $35,000 if **Bitcoin** reaches $175,000, positing that **Ethereum's** market capitalization could eventually align with **Bitcoin's**. **Deltec Bank**, a Bahamian financial institution, offers an optimistic target of $10,000 for **ETH** by the end of 2025 and $22,500 by 2030, citing the transition to Proof-of-Stake, the **London hard fork**, and anticipated fiat currency inflation. More conservative estimates from **Deltec Bank** place **ETH** at $9,000 by 2025 and $20,750 by 2030. ## Broader Context **Tornado Cash** functions as a decentralized protocol designed to obscure the origins and destinations of cryptocurrency transactions, thereby enhancing user privacy. However, its privacy-enhancing features have also led to its use in high-profile illicit activities. For instance, a previous incident saw a hacker laundering 493.7 **ETH** through **Tornado Cash** following a hack. The ongoing regulatory focus on such mixers, particularly in light of their potential exploitation for money laundering and sanction evasion, underscores a broader industry challenge regarding maintaining privacy without facilitating illegal financial flows. The ability to trace transactions, while possible with forensic analysis for cryptocurrencies like **Bitcoin**, remains complex for mixer-facilitated movements.
Nov 07 2025, 02:47
Gauntlet Halts Compound Withdrawals Following Elixir's deUSD Depegging
## Executive Summary DeFi risk management firm **Gauntlet** has initiated an emergency pause on withdrawals for **USDC**, **USDS**, and **USDT** markets within **Compound V3** on **Ethereum**. This proactive measure follows a significant depegging event affecting **Elixir's deUSD** and **sdeUSD** stablecoins, which serve as collateral, ultimately traced to a $93 million loss disclosed by **Stream Finance**. ## The Event in Detail **Gauntlet** proposed a temporary emergency pause across the independent lending **Comet markets** on **Compound V3** for **USDC on Ethereum**, **USDS on Ethereum**, and **USDT on Ethereum**. This decision was precipitated by observed liquidity crises in **Elixir's deUSD** and **sdeUSD**, both of which function as collateral for the affected stablecoins. While **Gauntlet** had previously recommended updating risk parameters, these suggestions had not received approval from the governance committee. Consequently, the firm recommended suspending withdrawals, preventing new lending positions or liquidity withdrawals for the impacted tokens on **Compound V3**. The genesis of this crisis traces back to **Stream Finance**, which disclosed a $93 million loss in its fund assets, leading to the suspension of withdrawals on November 4. **Elixir**, a DeFi protocol, bore an exposure of $68 million to **Stream Finance** and subsequently announced the discontinuation of its **deUSD** synthetic dollar. **Elixir** processed redemptions for approximately 80% of its holders and plans to open a claims portal for the remaining balances, which will be redeemable 1:1 for **USDC**. On-chain data indicates that around $285 million in **DeFi** loans utilized **xUSD**, **xBTC**, and **xETH** as collateral, with 65% of **Elixir's deUSD** reserves, amounting to $68 million, exposed to **Stream's** risk. This exposure intensified after the **Balancer** exploit, which preceded **Stream Finance's** abnormal withdrawals and the **xUSD** depegging from $1 to $0.27. ## Market Implications The emergency pause on **Compound V3** creates a \"locked position\" for users unable to withdraw funds, as noted by **Aave** founder **Stani.eth**. He characterized the suspension as an active risk mitigation measure, asserting that assets exhibiting such volatility \"should not be included in the main market.\" This event underscores the inherent interconnectedness and contagion risks within the **DeFi ecosystem**, particularly concerning stablecoin collateralization and the reliance on third-party liquidity providers. It is expected to trigger increased scrutiny of asset listings and risk parameters across major **DeFi** platforms. ## Expert Commentary **Stani.eth** further commented on the broader systemic vulnerabilities within **DeFi** lending protocols. He highlighted the potential for \"disasters\" stemming from the combination of immutable oracle price feeds and specific interest rate curve mechanisms. He emphasized that some asset managers engage in excessive risk-taking to gain a competitive edge, thereby exacerbating industry vulnerabilities. **Stani.eth** called for a collective industry effort to enhance transparency and implement more prudent risk management, noting insufficient due diligence by investors and inadequate risk awareness at the protocol integration level. ## Broader Context **Gauntlet** operates as a simulation-driven risk management platform, collaborating with **DeFi** protocols to optimize parameters and ensure stability. The firm employs thousands of agent-based simulations daily to stress-test protocols under diverse scenarios, aiming to prevent insolvencies and manage market risk. This approach treats **DeFi** systems as economic constructs where participants respond to incentives, providing insights into potential outcomes of protocol changes or extreme events. **Gauntlet's** continuous risk modeling is a critical component in the ongoing effort to fortify the resilience of decentralized financial systems.
Nov 07 2025, 00:39
Sprinter Secures $5.2 Million Seed Funding Led by Robot Ventures to Advance Cross-Chain Infrastructure
## Executive Summary Sprinter, a cross-chain infrastructure startup, has successfully completed a $5.2 million seed funding round. The investment was led by **Robot Ventures**, with a primary objective to advance the functionality of blockchain **solvers** and enhance cross-chain interoperability within the decentralized finance (DeFi) ecosystem. ## The Event in Detail The $5.2 million seed round for **Sprinter** saw significant participation beyond lead investor **Robot Ventures**. Other institutional contributors included **A Capital**, **Atka Capital**, **Bond St Ventures**, **Topology**, and **Uniswap Labs Ventures**. The funding round also attracted several angel investors, such as **Ameen Soleimani** of 0xbow, **Eva Beylin** of Optimism, and **Chen Zituo** of WAGMI Ventures. The Sprinter team includes prominent **Ethereum** core developers and **EIP** authors, including **ChainSafe Systems** CEO **Aidan Hyman** and former **ENS** developer **Dean Eigenmann**, underscoring the project's foundational expertise in **Ethereum**-based development. ## Financial Mechanics and Product Offerings Sprinter's strategy revolves around two core products: **Sprinter Stash** and **Sprinter Solve**. **Sprinter Stash** operates as a cross-chain credit protocol designed to provide liquidity access to **solvers** and market makers without requiring collateral. Liquidity providers deposit **USDC** into **Sprinter Stash**, earning yield from solver fees, passive yield, and protocol incentives. Approved solvers undergo screening and onboarding, using authenticated **API** keys and operating under rate limits and monitoring. **Sprinter Stash** dynamically allocates liquidity across supported chains based on demand, enabling solvers to request and borrow credit instantly on destination chains for seamless cross-chain execution. Once transactions are completed, funds are received on the source chain, credit is repaid, and profits are distributed to liquidity providers and solvers. The protocol also features **SPRINT**, a native governance token, intended to incentivize liquidity providers, solvers, and community participants, with staking offered via **veSPRNT**. **Sprinter Solve** offers dApps, wallets, and protocols with request-for-quote-based swap **APIs**, aiming to improve transaction execution performance by providing solvers and market makers with collateral-free credit. ## Business Strategy and Market Positioning Sprinter's business strategy is centered on improving the functionality of blockchain **solvers**, an emerging sector of off-chain bots, algorithms, and market makers that execute on-chain actions for users. These **solvers** address critical challenges within the blockchain landscape, such as fragmentation and a lack of composability across protocols. Unlike