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XUSD Stablecoin Crashed 70% After $93M Stream Finance Loss

Stream Finance’s staked stablecoin, XUSD, lost its peg early Tuesday, falling by more than 60% after the DeFi protocol disclosed that an external fund manager had lost approximately $93 million in managed assets. The event shook the DeFi circles, causing XUSD to plummet to a new all-time low of $0.30, according to data from CoinGecko. Stream Finance Freezes Withdrawals In an X post, the Stream Finance team confirmed the loss and temporary suspension of all deposits and withdrawals while investigations continue. “Yesterday, an external fund manager overseeing Stream funds disclosed the loss of approximately $93 million in Stream fund assets,” wrote the company. It also said it has hired attorneys Keith Miller and Joseph Cutler of Perkins Coie LLP to lead a full probe into the loss and has begun withdrawing all remaining liquid assets as a precautionary step. “Until we are able to fully assess the scope and causes of the loss, all withdrawals and deposits will be temporarily suspended,” the project stated, adding that its decision to retain Perkins Coie reflected a “commitment to transparency and corporate governance.” Blockchain security firm PeckShield first flagged the issue earlier in the day, noting that XUSD had fallen by 23%, before the decline deepened to 58% within an hour. At the time of writing, the asset was trading around $0.48, a 62% drop in the last 24 hours. Its market cap sits at roughly $95.6 million, with a one-day trading volume of $1.59 million. The stablecoin’s 7-day and 30-day performances both mirror the sharp decline, showing a consistent 62% downturn, making it one of the steepest stablecoin depegs of 2025 so far. Ongoing DeFi Fragility The Stream Finance incident comes hot on the heels of an exploit on Balancer V2, one of the sector’s longest-running protocols, which led to $128 million in losses. The attack also impacted several Balancer forks, with StakeWise DAO confirming earlier today that, together with security experts from Balancer and Gnosis Chain, it had managed to recover 73.5% of its affected funds, returning more than $20 million worth of stolen assets to users. These events highlight a recurring problem in the industry. According to a recent Peckshield report, in September alone, there were more than 20 major exploits on DeFi platforms, in which over $127 million was collectively lost. Although the figure represented a 22% drop from August’s loss of $163 million, it still brought 2025’s total above $3 billion, with casualties including the Bunni decentralized exchange. The platform shut down completely after an $8.4 million hack, which left the team unable to cover the cost of new security audits. However, they announced that users would still be able to withdraw assets and that the remaining treasury funds would be distributed to token holders. The post XUSD Stablecoin Crashed 70% After $93M Stream Finance Loss appeared first on CryptoPotato .

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Ethereum Investment: Bitmine’s Massive $305.9M Move Unlocks Future Potential

BitcoinWorld Ethereum Investment: Bitmine’s Massive $305.9M Move Unlocks Future Potential The cryptocurrency world is buzzing with news as Bitmine (BMNR), a Nasdaq-listed company known for its focus on digital assets, recently made a truly significant move. This isn’t just another transaction; it’s a massive Ethereum investment that signals strong confidence in the future of the second-largest cryptocurrency. Bitmine’s Bold Move: A Strategic Ethereum Investment Last week, Bitmine announced a substantial acquisition, purchasing an additional 82,353 ETH. This significant purchase came with a price tag of $305.9 million. This latest move brings Bitmine’s total Ethereum holdings to an impressive 3.395 million ETH. For investors, this action highlights a clear strategic direction. It underscores Bitmine’s commitment to building a robust portfolio of digital assets, particularly focusing on Ethereum’s ecosystem. Why is Bitmine Doubling Down on Ethereum Investment? Many are asking why Bitmine would commit such a large sum to an Ethereum investment . The answer lies in Ethereum’s unique position within the blockchain landscape. Ethereum is not just a cryptocurrency; it is a foundational technology powering countless decentralized applications (dApps), DeFi protocols, and NFTs. Here are some key reasons behind this strategic decision: Ecosystem Growth: Ethereum boasts the largest and most active developer community, consistently innovating and expanding its use cases. Deflationary Mechanism: With the implementation of EIP-1559 and the transition to Proof-of-Stake (PoS), ETH has become a deflationary asset under certain network conditions, potentially increasing its scarcity over time. Future Upgrades: Ongoing developments like sharding aim to enhance scalability and reduce transaction costs, further solidifying Ethereum’s long-term viability. Institutional Interest: A growing number of institutional investors are recognizing Ethereum’s potential, viewing it as a critical component of the digital economy. This long-term outlook on Ethereum’s utility and value proposition drives Bitmine’s continued accumulation. Navigating the Market: Challenges and Opportunities in Ethereum Investment While the potential rewards of a large-scale Ethereum investment are clear, it’s also important to acknowledge the inherent challenges. The cryptocurrency market is known for its volatility, and Ethereum is no exception. Price fluctuations can be significant, presenting both risks and opportunities for strategic entries and exits. Furthermore, the regulatory landscape for cryptocurrencies is still evolving globally. Changes in regulations could impact the market. However, companies like Bitmine are demonstrating a proactive approach, integrating these assets into their official financial structures. Despite these challenges, the opportunities for growth remain compelling. Ethereum’s continued adoption in various industries, from finance to gaming and supply chain, suggests a strong upward trajectory for its underlying value. What Does This Massive Ethereum Investment Mean for BMNR? Bitmine’s latest Ethereum investment is more than just a balance sheet update; it’s a statement. For BMNR shareholders and potential investors, this move could signal several positive outcomes: Enhanced Asset Base: A larger holding of a major digital asset like ETH strengthens the company’s overall financial position. Strategic Positioning: It positions Bitmine as a significant player in the Ethereum ecosystem, potentially opening doors for future partnerships and ventures. Investor Confidence: Such a bold move from a Nasdaq-listed company can instill greater confidence among traditional investors regarding the viability of crypto assets. Long-Term Vision: It reinforces Bitmine’s long-term vision of capitalizing on the growth of the decentralized web. This commitment to Ethereum highlights a forward-thinking approach in a rapidly evolving digital economy. In conclusion, Bitmine’s acquisition of an additional $305.9 million in ETH is a pivotal moment. It showcases a deep belief in Ethereum’s enduring value and its central role in the future of decentralized technology. This strategic Ethereum investment not only boosts Bitmine’s asset portfolio but also sends a clear message about the increasing institutional acceptance and long-term potential of digital assets. As the crypto market continues to mature, companies like Bitmine are leading the charge, demonstrating how traditional finance can effectively integrate with the innovative world of blockchain. Their actions today could very well shape the investment strategies of tomorrow. Frequently Asked Questions (FAQs) Q1: What is Bitmine (BMNR)? A1: Bitmine (BMNR) is a Nasdaq-listed company primarily focused on strategic investments in the Ethereum ecosystem and other digital assets. Q2: How much Ethereum did Bitmine recently purchase? A2: Bitmine recently purchased an additional 82,353 ETH for $305.9 million, significantly increasing its total holdings. Q3: What is the total Ethereum holding of Bitmine now? A3: Following this latest acquisition, Bitmine’s total Ethereum holdings now stand at an impressive 3.395 million ETH. Q4: Why is Ethereum considered a strategic investment for companies? A4: Ethereum is considered a strategic investment due to its robust ecosystem supporting dApps, DeFi, and NFTs, its ongoing technological advancements, and growing institutional interest. Q5: Does this Ethereum investment affect Bitmine’s stock price? A5: While direct impact can vary, significant strategic moves like a large Ethereum investment can positively influence investor confidence and the company’s long-term valuation, potentially affecting stock price. Did you find this analysis of Bitmine’s bold move insightful? Share this article with your network on social media to spark conversations about the future of institutional crypto adoption and the exciting world of Ethereum investments! To learn more about the latest Ethereum investment trends, explore our article on key developments shaping Ethereum institutional adoption . This post Ethereum Investment: Bitmine’s Massive $305.9M Move Unlocks Future Potential first appeared on BitcoinWorld . Crypto Potato

FTX Withdraws Plan That Could Exclude $800M in Claims from Restricted Jurisdictions

FTX has withdrawn its Restricted Jurisdiction Procedure motion, which aimed to exclude about $800 million in claims from customers in 49 countries with restrictive crypto laws, including China, Ukraine, Pakistan, Crypto Potato