Tag: News

Bank of America has reversed its monetary policy forecast, now projecting three 25-basis-point interest rate hikes by the Federal Reserve before the end of 2026. The policy tightening is expected across September, October, and December, which would push the benchmark federal funds target range up to 4.25%–4.50%. A combination of sticky inflation and labor market resilience drove the hawkish pivot, coming just a week after the bank predicted...

Synthetix governance has approved SIP-423, a proposal to fully decommission and deprecate its native sUSD stablecoin across Ethereum and Optimism networks. Holders will receive four locked SNX tokens for each sUSD based on its $1 face value, compensating users despite the asset’s current market value of $0.25. The transition restructures protocol debt mechanisms by winding down the 420 Jubilee Debt Pool and completely removing the sUSD...

Secret Network’s cross-chain bridge was hit for $4.7 million following an exploit tied to a critical infinite mint smart contract vulnerability. Three high-profile board members of Sonic Labs, including DeFi pioneer Andre Cronje, have resigned amidst a broader governance restructuring. The native S token dropped another 5% on the news, continuing a steep decline that has wiped out roughly 97% of its value from its all-time high. The...